Novo Nordisk disclosed negative Phase 3 results for oral semaglutide in Alzheimer’s disease: two large trials showed no effect on clinical progression versus placebo in patients with early symptomatic disease and amyloid pathology. The readouts undercut hypotheses that GLP‑1 receptor agonists could modify neurodegeneration and triggered immediate market reaction across GLP‑1 stocks. Company briefings and media reports noted the trials enrolled thousands of participants and used standard cognitive and functional endpoints; Novo said it will continue to evaluate data subgroups but that the primary outcome was not met. The outcome is an important setback for repurposing metabolic drugs for neurodegeneration and will reshape investment and development plans in the space. Clarification: GLP‑1 receptor agonists are incretin-based drugs approved for diabetes and obesity; their neuroprotective effects are experimental and were being tested for disease‑modifying activity in Alzheimer’s.