Why Eli Lilly and Company Shares Are Moving Lower On Thursday
Portfolio Pulse from Dylan Berman
Eli Lilly and Company (NYSE:LLY) shares are trading lower on Thursday after Viking Therapeutics, Inc. (NASDAQ:VKTX) announced the advancement of its obesity treatment, VK2735, to Phase 3 trials. VK2735 showed promising results in reducing body weight and demonstrated safety and tolerability in both injectable and oral forms.
July 25, 2024 | 4:49 pm
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NEGATIVE IMPACT
Eli Lilly shares are trading lower due to Viking Therapeutics' advancement of its obesity treatment VK2735, which showed promising results in clinical trials.
The advancement of VK2735 by Viking Therapeutics poses a competitive threat to Eli Lilly's obesity treatments, leading to a decline in LLY's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Viking Therapeutics' stock may see positive movement as it advances its obesity treatment VK2735 to Phase 3 trials, showing promising results in weight reduction and safety.
The positive clinical trial results and advancement to Phase 3 for VK2735 are likely to boost investor confidence in Viking Therapeutics, potentially driving up VKTX's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100