Investors flocked to (NYSE: PFE) stock on Monday following some highly encouraging news about one of the company's pipeline drugs. The holy grail of pharmaceutical companies and biotechs is the development of a medication with blockbuster potential, and Pfizer seems to have one on its hands. As a result, the company's shares rocketed more than 5% higher on Monday against an essentially flat S 500 index.

A peer-reviewed study of Pfizer's investigational drug danuglipron found that the medication lowered both blood sugar and body weight after 16 weeks of use when compared to a placebo. That study was published in the influential JAMA Network medical journal that morning.

On average, the phase 2 clinical trial's volunteers who were administered either 80- or 120-milligram doses of the drug twice per day lost roughly 10 pounds of weight across the 16 weeks. 

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Source Fool.com