Blockbuster News: Viking Therapeutics Just Jumped More than 80%

Feb 27, 2024

Weight loss drug stocks are exploding.

For weeks, we’ve been talking about Viking Therapeutics (VKTX), for example.

In fact, we last noted, “Look at Viking Therapeutics (VKTX), which we mentioned in mid-December, as it traded at around $19 a share. Its potential treatment for obesity – VK2735, which has shown a mean weight loss of up to 18 pounds from baseline. The company also initiated Phase 1 clinical study to evaluate a novel oral formulation of VK2735. The company believes the potential to provide both a subcutaneously injected and an oral dosage form represent a significant expansion of the opportunity for VK2735.”

From there, VKTX is now up to $68 a share – up about 77% today with a volume spike to 11.4 million shares just 15 minutes into the start of the trading day.

Helping, its weight loss drug showed promising results in a mid-stage trial.

As reported by CNBC, “The trial followed more than 170 patients with obesity or who are overweight, some of whom received different dose sizes of the injectable drug or a placebo. Those who received weekly doses of the treatment lost up to 14.7% of their body weight from baseline, or 13.1% when adjusted for placebo, after 13 weeks.”

“Up to 88% of patients who received the drug, known as VK2735, achieved at least 10% weight loss, compared to just 4% of those who didn’t receive the treatment. Notably, there was no evidence of a plateau in weight reduction at week 13 for any dose of the drug, suggesting that ‘further weight loss might be achieved’ by keeping patients on the treatment longer, Viking CEO Brian Lian said during a call with investors.”

Plus, there are also rumors VKTX could potentially see interest from companies like Pfizer, as studies continue to show positive results.

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