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Key Takeaways
- Viking Therapeutics reported its experimental oral weight-loss drug showed positive results in an early trial, and shares soared in early trading Tuesday.
- The biotech firm said its VK2735 medicine reduced the weight of obese patients in a 28-day Phase 1 study, and plans to begin a Phase 2 trial in the second half of the year.
- Viking shares soared to an all-time high last month after it announced an injectable form of VK2735 produced successful outcomes in a Phase 2 trial.
Shares of Viking Therapeutics (VKTX) jumped over 25% in early trading Tuesday after the company reported positive results in a test of its experimental weight-loss treatment.
The company said a Phase 1 trial of an oral version of its VK2735 drug showed obese patients who took it for 28 days demonstrated a dose-dependent decline in average body weight of 5.3% versus the baseline, and a 3.3% drop compared to those who took a placebo.
Viking also suggested taking VK2735 for longer than 28 days at potentially higher doses could increase the benefits. Because of the findings, Viking said it plans to begin Phase 2 testing in the second half of this year.
Chief Executive Officer (CEO) Brian Lian said “an oral agent with good tolerability could represent an attractive potential treatment option for patients with obesity.”
Last month, shares of Viking soared to an all-time high after the company posted positive Phase 2 results of an injectable form of VK2735. Both the oral and injectable versions notably use GLP-1/GPT receptor agonists found in weight-loss medicines such as Novo Nordisk’s (NVO) Ozempic and Wegovy. Demand for such medicines has boomed, and pharmaceutical firms have been rushing to find a way to market them in pill form.
Viking Therapeutics shares were up about 25% to $86.78 as of 11:10 a.m. ET Tuesday. They have more than quadrupled in value so far this year.
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