Are we ready for the Great Obesity Drug Gold Rush of the 2020s?
Jared Holz, Mizuho, joins 'Fast Money' to talk Viking Therapeutics and the biotech sector.
Viking Therapeutics' oral VK2735 reported strong weight loss and good safety and tolerability in the phase 1 trial, with the 100mg dose achieving 8.2% absolute weight loss in four weeks. These results put Viking at the front of the oral obesity field, but with a major caveat of rapid treatment landscape evolution. The sell the news reaction is understandable given high investor excitement ahead of the data update, and the fact there are no meaningful catalysts until at least Q4 2025.
Viking Therapeutics stock is volatile Monday after the pharma company released positive data for its weight-loss drug. Here's what you need to know.
Viking Therapeutics (NASDAQ:VKTX) shares jumped then fell after it reported results from a trial of its weightloss tablet. The San Diego company said its phase-one clinical trial of an oral tablet formulation of its VK2735 tablet dosed daily for 28 days resulted in up to 8.2% mean weight loss for some patients, or 6.8% versus a placebo.
Viking Therapeutics shares surged 25% before the bell on Monday after early-stage data from the company's experimental oral obesity drug showed weight loss and safety above Wall Street expectations.
Viking Therapeutics stock rose in early trade on Monday as the company showed its oral weight-loss drug in clinical trials was successful.
The U.S. presidential election will be held on November 5, 2024, but there's another event that investors may want to vote on before the election. From November 3 through November 6, the Obesity Society will hold its annual meeting, ObesityWeek 2024.
It might not be too late to get in on the party.
Viking Therapeutics' VK2735 drug shows promising weight-loss results, driving a stock rally and positive analyst sentiment due to its potential in a $40 billion market. The company plans to escalate VK2735 dosages and start Phase 2 trials, with Phase 3 trials for the injectable version and VK2809 NASH drug also in the pipeline. The stock has a market cap below $9 billion while larger competitors have seen stock valuations soar by multiples of these levels indicating the opportunity for Viking Therapeutics.
Viking Therapeutics shows significant clinical progress in obesity, NASH, and X-ALD, with promising Phase II and preclinical data positioning it for potential market leadership. Despite operating at a loss, Viking maintains a strong cash position to support aggressive R&D, with Q3 financials reflecting increased expenses but sufficient liquidity. Upcoming catalysts, including Phase III trials for VK2735 and oral VK2735 studies, could significantly impact Viking's market value and competitive positioning.
Jared Holz, Mizuho, joins 'Fast Money' to talk Viking's stock jumping on weight-loss hopes.