Most of Israel "Izzy" Englander's favorite stocks these days are technology leaders. At least that's the conclusion you'd draw based on the top holdings of the billionaire's Millennium Management hedge fund.
Viking Therapeutics is a strong contender in the GLP-1 obesity drug market - candidate VK2735 has the potential to challenge Eli Lilly's Zepbound and Novo Nordisk's Wegovy. The latest data from the oral and subq versions of Viking's drug are encouraging, albeit pivotal studies must still be arranged and negotiated successfully. If approved, VK2735 will need to show it has a best-in-class profile in terms of either durability, dosing regimen, side-effect profile, price or mode of administration.
Data from their most serious competitor, Amgen, suggests the biotech won't upstage the market leaders.
Shares of obesity drugmakers moved higher on Tuesday after the Biden administration proposed expanded coverage of anti-obesity medications under Medicare and Medicaid. Currently, these programs cover the use of anti-obesity medications for certain conditions like diabetes, but under the proposal, this would be expanded to include obesity.
Corbus Pharmaceuticals still shows promise, with CRB-701 and CRB-601 advancing in clinical trials and CRB-913 targeting obesity with potentially fewer CNS side effects. Despite early-stage pipeline risks, CRBP's recent sell-off offers a favorable entry point for speculative investors, upgrading my rating from "Hold" to "Speculative Buy." CRBP's valuation is compelling with $159.4 million in liquidity and no significant debt, providing a healthy cash runway.
Viking Therapeutics (VKTX) shares fell Monday, handing back early gains, as analysts questioned the path ahead for its developmental weight-loss drugs even after news of upbeat results in clinical trials.
Viking Therapeutics Inc (NASDAQ:VKTX) stock is up 4.3% to trade at $74.13 at last glance, reversing course from earlier gains.
Viking Therapeutics Inc VKTX announced that new clinical data from the company's VK2735 obesity program were highlighted in two poster presentations at ObesityWeek 2024.
Viking Therapeutics reported strong weight loss for higher doses of its experimental obesity drug.. The post Viking Therapeutics Surges, Set To Break Out On Latest Obesity Drug Data appeared first on Investor's Business Daily.
In recent years, the pharmaceutical industry has witnessed a remarkable surge in the development of weight loss medications.
The FDA has agreed in court to allow compounding pharmacies to continue producing compounded versions of LLY's tirzepatide while reconsidering the drug's supply status.
Hims stock popped Monday after the FDA reportedly said it would reconsider its decision to bar compounders from selling knockoff tirzepatide.