Viking Therapeutics stock surges 27% on weight loss drug data

Viking Therapeutics (VKTX) shares rose 38% after the company reported that its obesity drug VK2735 helped patients maintain weight loss even with reduced dosing. The drug is in Phase 3 trials and competes with treatments from Eli Lilly (LLY) and Novo Nordisk (NVO). The stock also moved above its 50-day moving average. According to the company, the results suggest potential for less frequent dosing regimens.

Viking Therapeutics (VKTX) reported positive results from a study of VK2735, showing significant weight loss and maintenance with less frequent dosing. Participants maintained up to 97% of weight loss with every-other-week dosing and 90% with monthly dosing. The drug showed good tolerability, with GI adverse event rates similar to placebo. Viking plans to explore oral maintenance dosing in future studies.

Viking Therapeutics (VKTX) shares surged 39.5% in pre-market trading to $42 after positive top-line results from its VK2735 maintenance study. The study showed significant weight loss maintenance and a favorable safety profile. The company plans further studies and has a strong cash position of $502 million. Oppenheimer maintains an Outperform rating and $100 price target.

Viking Therapeutics, Inc. (VKTX) filed an SEC Form 8-K — Other Events. Exhibit 99.1 Viking Therapeutics Announces Positive Topline Results from Maintenance Study of GLP-1/GIP Agonist VK2735 Demonstrating the Promise of Multiple Maintenance Dosing Regimens 22% Placebo-Adjusted Weight Loss Reported at Week 33 Following Weekly Dosing of VK2735 at 17.5

Novo Nordisk (NVO) fell 7% after outlining a growth strategy that failed to ease competition concerns, aiming for revenue growth in line with peers. Eli Lilly (LLY) slipped 0.7%, while Viking Therapeutics (VKTX) rose 1%. Novo Nordisk's stock is down for the year, trading at $40.26. The company expects to launch five multi-blockbuster drugs by 2030 but faces patent expiration risks for its key drugs, Wegovy and Ozempic, in 2032.

Viking Therapeutics (VKTX) is advancing its obesity drug VK2735 into Phase 3 trials after achieving 15% weight loss in Phase 2. The Phase 3 studies will test various dosing schedules and formulations, with a focus on tolerability and weight-loss maintenance. The company aims to leverage data from injectable studies for its oral program, reducing enrollment by about 75%. Viking is also preparing for commercialization, securing manufacturing capacity and supply-chain redundancy.