Viking Therapeutics' Weight Loss Study Data Outperformed Novo Nordisk, Eli Lilly Studies, Analysts Say
Portfolio Pulse from Vandana Singh
Viking Therapeutics Inc (NASDAQ:VKTX) released successful Phase 2 weight loss trial results for VK2735, showing significant reductions in body weight compared to placebo. The results outperformed Novo Nordisk A/S's (NYSE:NVO) and Eli Lilly And Co's (NYSE:LLY) similar trials. Viking also announced a $350 million capital raise. Analysts from HC Wainwright and William Blair highlighted VK2735's superior performance and revised its peak sales estimate upwards. VKTX shares rose 9.34% to $92.99.
February 28, 2024 | 5:05 pm
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POSITIVE IMPACT
Viking Therapeutics released successful Phase 2 weight loss trial results for VK2735, significantly outperforming competitors and announced a $350 million capital raise.
The positive trial results and capital raise announcement are likely to boost investor confidence in VKTX, driving short-term stock price appreciation.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
NEGATIVE IMPACT
Eli Lilly's Phase 3 SURMOUNT-1 trial with Zepbound showed less weight loss compared to Viking Therapeutics' VK2735, affecting its competitive position.
The comparison indicating inferior performance of LLY's Zepbound to VKTX's VK2735 could negatively impact investor sentiment towards LLY in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Novo Nordisk's Phase 3 STEP-1 trial with Wegovy showed less weight loss compared to Viking Therapeutics' VK2735 in a similar study.
The comparison indicating inferior performance of NVO's Wegovy to VKTX's VK2735 could negatively impact investor sentiment towards NVO in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70