Viking Therapeutics stock toppled Tuesday after the biotech company inked a $150 million manufacturing deal for its weight-loss drug, VK2735. The post Viking Therapeutics Just Inked A $150 Million Manufacturing Deal.
In the most recent trading session, Viking Therapeutics, Inc. (VKTX) closed at $29.10, indicating a +1.46% shift from the previous trading day.
In the closing of the recent trading day, Viking Therapeutics, Inc. (VKTX) stood at $28.87, denoting a +0.7% change from the preceding trading day.
Viking Therapeutics (VKTX -3.01%) soared into the spotlight about a year ago when it delivered promising data on a drug candidate that aims to compete in an area of very high demand: weight loss. The stock surged more than 120% in one trading session after Viking spoke about VK2735, a candidate that works in the same way as big pharma Eli Lilly's blockbuster drugs Mounjaro and Zepbound.
Viking Therapeutics: Development Of VK2735 Continues, Buyout Or Not
Given the optimism around its obesity candidate, we believe investors should stay invested in Viking Therapeutics, regardless of buyout speculations.
Few big pharma stocks have been bigger winners over the last three years than Eli Lilly and Novo Nordisk. Lilly now ranks as the largest drugmaker in the world, with a market cap of $844 billion, after its shares skyrocketed more than 270%.
Weight-loss drugs have been popular over the past couple of years, and Hims & Hers Health Inc (NYSE:HIMS), Novo Nordisk A/S ( NYSE:NVO) , and Viking Therapeutics Inc (NASDAQ:VKTX) are among the most recognized names in the industry.
Nearly a year ago, Viking Therapeutics (VKTX 3.50%) shares exploded higher after the clinical-stage drugmaker announced successful results from a clinical trial with an experimental weight loss drug.
Viking Therapeutics' fourth-quarter earnings miss estimates. The decline in stock price was attributable to a lack of material updates on its pipeline.
The excitement surrounding Viking Therapeutics (VKTX 3.49%) stock has been dying down significantly lately. In six months, the stock has lost more than 40% of its value.
Viking Therapeutics stock plunged late Wednesday on an earnings report that included mostly incremental updates for its weight-loss drugs. The post Viking Therapeutics Plummeted 10% On Its Earnings Report.