U.S. stock futures climbed Monday morning, with Nasdaq futures up around 100 points. But not everyone was joining the party.

Novo Nordisk A/S (NVO) took the biggest hit in pre-market trading, with shares plummeting after the pharmaceutical giant released disappointing news from its Evoke Phase 3 trials. The data showed that GLP-1 drugs—the class of medications that includes the company's blockbuster weight-loss treatments—did not demonstrate a statistically significant reduction in Alzheimer's disease progression.

The company's shares tumbled 9.3% to $43.22 in pre-market trading, a meaningful blow for investors who had hoped the popular drug class might expand beyond diabetes and weight management.

Other Notable Pre-Market Decliners

Geospace Technologies Corp (GEOS) led the pack of losers, dropping 13.7% to $11.05 in pre-market action. This extended the pain from Friday's session, when the stock already fell 26%.

Inventiva ADR (IVA) slipped 6.1% to $4.04 after the company reported its cash position as of September 30, 2025 and revenues for the first nine months of 2025.

Datavault AI Inc (DVLT) fell 5.8% to $2.40, giving back some of Friday's impressive 46% rally.

Waldencast PLC (WALD) declined 5.5% to $2.91 following the release of operating results for the second quarter and a trading update for the third quarter.

Pacific Biosciences of California Inc (PACB) dropped 4.1% to $2.13, reversing part of Friday's 18% gain.

American Axle & Manufacturing Holdings Inc (AXL) fell 3.7% to $6.00 after climbing approximately 7% in the previous session.

Hafnia Ltd (HAFN) declined 3.4% to $6.20 in pre-market trading.

Getty Images Holdings Inc (GETY) slipped 3.3% to $1.46, also pulling back after a 7% advance on Friday.