Eli Lilly said its new weight-loss pill had cleared a late-stage clinical trial, a promising sign as the company continues to face off with Ozempic maker Novo Nordisk.Eli Lilly said in a news release that its orforglipron pill had passed a Phase 3 trial with “statistically significant efficacy results” and a safety profile consistent with injectable obesity drugs that already are on the market.

Diabetics given the pill called orforglipron lost 16 pounds, or 7.9% of their body weight, over a 40-week period.

Eli Lilly and Co. shares surged after data showed its experimental weight-loss pill worked as well as the Ozempic shot.