Corbus drops after rival Novo Nordisk reports obesity drug data
** Shares of Corbus Pharmaceuticals Holdings CRBP.O drop 67% to hit near eight-month low of $17.15
** Danish rival Novo Nordisk NOVOb.CO on Friday reported mid-stage study data for its experimental obesity drug, monlunabant
** Corbus is developing CRB-913, which belongs to the same class as Novo's monlunabant
** Novo reported 7.1 kg weight loss from a 10 mg dose of monlunabant after 16 weeks' treatment, from a baseline body weight of 110 kgs
** Novo's data "is disappointing for CRBP, in the lack of anticipated benefit for increasing doses of monlunabant," according to Oppenheimer analyst Jeff Jones
** Including session moves, stock has more than tripled YTD
Reporting by Mariam Sunny in Bengaluru
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