Viking Therapeutics' Investigational Oral Obesity Drug Shows Reduced Weight In Small Study
Portfolio Pulse from Vandana Singh
Viking Therapeutics Inc (NASDAQ:VKTX) released results from a Phase 1 trial of VK2735, an oral obesity drug, showing dose-dependent weight reductions and minimal side effects. The company plans to continue dose escalation and initiate a Phase 2 trial in the second half of 2024. VKTX shares surged 20.90% to $83.64.
March 26, 2024 | 2:25 pm
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POSITIVE IMPACT
Viking Therapeutics' VK2735 shows promising results in a Phase 1 obesity trial, leading to a 20.90% increase in VKTX shares to $83.64.
The positive outcome from the Phase 1 trial of VK2735, demonstrating significant weight loss and minimal side effects, directly impacts investor confidence and the company's valuation. The announcement of continuing dose escalation and the initiation of a Phase 2 trial further supports the potential for VK2735, contributing to the sharp increase in VKTX shares. The direct mention of the share price increase in the news underscores the significant market reaction to these results.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100