Results for its new CagriSema drug, while promising, fell below expectations, sending shares of the pharmaceutical giant down double digits in premarket trading. CagriSema, a drug that Novo Nordisk had hoped would become its next generation weight-loss aid,

Novo Nordisk’s latest attempt in weight loss, a combination drug called CagriSema, matched the bar set by Lilly’s currently approved medicine, Zepbound, but didn’t cleanly surpass it in late-stage clinical trial findings reported Friday.

Novo Nordisk on Friday revealed disappointing results in a late-stage trial for its experimental next-generation obesity drug CagriSema, wiping as much as $125 billion off its market value.