The latest quarter's earnings and sales fell short of Wall Street analysts' estimates, and the CEO will step down in January.
Some analysts had been hoping for weight loss up to 25% in the phase two trial.
Zoom earned an adjusted $1.38 per share on $1.18 billion in revenue, against Street estimates of $1.31 in earnings per share and $1.16 billion in revenue.
Novo Nordisk , Eli Lilly — The maker of diabetes and weight loss drugs rose between 2% and 5%.
The Biden administration introduced a new rule allowing Medicare and Medicaid to the cost of weight loss treatments for Americans suffering from obesity .
Persons:
Amgen, Morgan Stanley, Dana, Abercrombie, Bernstein, Donald Trump, Stellantis, Ford, Zoom, Eli Lilly —, Biden, CNBC's Hakyung Kim, Pia Singh, Samantha Subin, Jesse Pound
Organizations:
Street, HSBC, Franklin Resources, Western Asset Management, Dana Inc, Abercrombie, Fitch, LSEG, Royal Caribbean, Chrysler, General Motors, Energy, FactSet, Zoom Communications, Novo Nordisk
Locations:
LSEG ., Mexico, Canada