Weight Loss Drug Market Gets Crowded As Viking Therapeutics Drops Encouraging Phase 2 Data From Obesity Study
Portfolio Pulse from Vandana Singh
Viking Therapeutics Inc (NASDAQ:VKTX) released positive Phase 2 trial results for VK2735, a weight loss drug, showing significant reductions in body weight and a good safety profile. The drug achieved its primary and all secondary endpoints, with up to 88% of patients achieving at least 10% weight loss. The stock surged 98% in premarket trading and was up 56% at $60.02.
February 27, 2024 | 2:48 pm
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POSITIVE IMPACT
Viking Therapeutics' VK2735 shows promising results in Phase 2 obesity trial, achieving significant weight loss and safety, leading to a stock surge.
The positive results from the Phase 2 trial of VK2735, including achieving primary and secondary endpoints with a good safety profile, directly contribute to the surge in Viking Therapeutics' stock price. The significant weight loss observed in patients and the high percentage of patients achieving over 10% weight loss underscore the drug's potential in the obesity treatment market, likely increasing investor confidence and demand for VKTX shares.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100