Viking Therapeutics Set for Strong Advancement on Recent Obesity Drug Findings

2 min read | November 04, 2024 03:10 AM PST | By Team Kalkine Media

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Viking Therapeutics Set for Strong Advancement on Recent Obesity Drug Findings — Image source: Shutterstock

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Highlights

Viking Therapeutics reported significant weight loss results from its experimental obesity pill VK2735 during the ObesityWeek conference.

Patients taking the highest dose of VK2735 lost an average of 8.2% of their body weight after 28 days.

Viking Therapeutics stock surged in premarket trading, indicating strong market interest.

Viking Therapeutics (NASDAQ:VKTX) has announced promising early results for its experimental obesity medication, VK2735, highlighting its potential as a competitive oral treatment in the weight-loss sector. During a presentation at the ObesityWeek conference, Viking revealed that patients taking a 100-milligram dose of VK2735 experienced an average weight loss of 8.2% after 28 days. This figure represents a notable 6.8% improvement compared to a placebo group. Importantly, none of the patients on the highest dose discontinued their treatment, suggesting good tolerability.

The study included 92 participants who were administered varying doses of the drug, providing valuable insights into VK2735's efficacy and safety. Viking's results come at a time when the demand for oral obesity treatments is increasing, especially in contrast to injection-based therapies from competitors such as Eli Lilly and Novo Nordisk.

Following the announcement, Viking's stock experienced a substantial increase, rising 25% in premarket trading. This spike positions the stock to potentially break out of a technical base, with the stock chart indicating an 81.73 cup-with-handle buy point. Viking's stock had previously gained 21% on October 24 and continued to rise 6.6% in the subsequent session.

In contrast, stocks of Eli Lilly and Novo Nordisk faced downward pressure. Eli Lilly's shares fell modestly after the company reported disappointing earnings, particularly concerning its weight-loss drug Zepbound and diabetes treatment Mounjaro. Novo Nordisk also saw a slight decline, continuing a downward trend from its peak in late June.

The positive results from Viking Therapeutics may enhance its competitive position in the growing obesity treatment market, particularly as it plans to test additional obesity drugs with diverse mechanisms of action.

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