Viking Therapeutics stock doubles on weight-loss drug trial results

February 27, 2024 05:29 AM PST | By Invezz

Viking Therapeutics stock doubles on weight-loss drug trial results — Image source: Invezz

Viking’s GLP-1 significantly reduces weight

VK2735 helped participants lose 14.7% of their body weight in thirteen weeks in a Phase 2 trial. Watch here: https://www.youtube.com/embed/04S_CFNZ9qY?feature=oembed

Viking Therapeutics is developing the GLP-1 receptor agonist as an injectable as well as an oral pill. Brian Lian – its chief executive said in a press release today:

VK2735 continues to demonstrate a promising efficacy and tolerability profile following 13 weeks of repeat dosing in obese subjects.

The news arrives only weeks after $VKTX said it ended its financial 2023 with $362 million in cash. Wall Street had a consensus “buy” rating on Viking Therapeutics stock even before the positive trial results it announced this morning.

VK2735 is safe and well tolerated

Shares of Viking Therapeutics are rallying today because the VENTURE trial met not just its primary endpoint but “all secondary endpoints” as well.

The study also established the company’s treatment for obesity and diabetes as “safe and well tolerated”, as per the press release on Tuesday.

$VKTX now plans on meeting with the U.S. Food and Drug Administration (FDA) to “discuss next steps in the development of VK2735”.

$VKTX Let this sink over time$LLY Tirzepatide drug after 12 weeks, pts lost 6.5% placebo adjusted weight loss. Gained close to 400 Billion in Market cap.$VKTX pts. lost BIG 13.1% placebo adjusted weight loss after 13 weeks. No plateau

VKTX beats LLY by twice in weight loss — Pharmdca (@Pharmdca) February 27, 2024

Viking Therapeutics stock does not currently pay a dividend yield. Shares of the biotech firm have now, however, more than quadrupled since the start of this year.

The post Viking Therapeutics stock doubles on weight-loss drug trial results appeared first on Invezz

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