Novo Nordisk's deal with Korro is worth a total of $530 million in research and development (R&D) funding, milestone payments, royalties, and up-front payments to get the ball rolling. That makes the agreement a meaty but fairly routine one for the big pharma business, and a huge (potentially) once-in-a-lifetime catch for the small biotech.

Novo Nordisk's U.S.-listed shares lost ground Friday after a study of the pharmaceutical firm’s latest obesity treatment showed less effectiveness in higher doses.

Shares were down 4.3% at 1330 GMT, the lowest since August 8, after the company announced headline results from its trial of monlunabant, an experimental drug it acquired as part of its $1 billion purchase of Canadian biotech company Inversago Pharmaceuticals last year.

However, after its phase 1 success with TERN-601, it will raise more money by taking advantage of its soaring stock price and conducting a secondary offering -- a classic move that smaller biotechs typically make in these circumstances. It expects to raise about $150 million in gross proceeds.

Ozempic maker Novo Nordisk (NVO) announced mixed results today for a phase 2 trial of an experimental weight loss pill that works differently than its already-popular weight loss drug Wegovy.

Novo Nordisk, tje manufacturer behind Ozempic and Wegovy has another weight loss medication in the works — but according to its trial results, it has some pretty freaky side effects. As Fierce Biotech reports,