Viking Therapeutics Shares Rise Over 35% After Positive Weight Loss Drug Trial Results
Shares of Viking Therapeutics (NASDAQ:VKTX) surged by over 35.67%, closing at $40.85, following positive results from a clinical trial for its weight loss drug candidate VK2735. The trial showed patients lost between 16 to 19 percent of their body weight after 21 weeks of treatment with the drug, compared to no significant change in those receiving placebo. The key selling point highlighted by Viking Therapeutics is that VK2735 allows for less frequent dosing—potentially every two weeks or once a month—which could improve patient compliance. CEO Brian Lian emphasized this as an innovative approach due to the drug's unique half-life and pharmacokinetic profile, enabling effective weight loss maintenance. Despite positive results, Goldman Sachs maintained a neutral stance on VKTX stock with a $38 price target, citing that longer follow-up is needed for monthly dosing. However, institutional investors have shown increased confidence in Viking Therapeutics, as hedge fund holdings rose by 25% to $551 million during the second quarter.
Tickers: $VKTX
Topics: stock movement Viking Therapeutics VK2735 weight loss drug