Shares of Novo Nordisk (NYSE: NVO) rose to a new all-time high on Thursday, March 7. The market was responding to encouraging results from a clinical trial with an experimental weight-management drug called amycretin.

Amycretin is an orally available treatment candidate, which could give it a big leg up if it eventually earns approval. Novo Nordisk's Wegovy and Eli Lilly's (NYSE: LLY) Zepbound are racking up billions in annual sales as weekly injectables.

Is Novo Nordisk a buy now? Let's look at the path ahead for amycretin to find out.

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Source Fool.com