Veru said on Monday its experimental drug, in combination with Novo Nordisk's weight-loss treatment Wegovy, helped preserve muscle in older patients with obesity, meeting the main goal of a mid-stage study.

The study was testing Veru's oral drug, enobosarm, in patients aged 60 and above. The drug targets androgen hormones, which play a role in body development and reproductive health.

Patients who received the drug in combination with Wegovy lost 71% less lean muscle on average than those who received Wegovy alone, the company said.