Viking Therapeutics (VKTX) stock plunged late Wednesday on a relatively light earnings report that included mostly incremental updates for its highly anticipated weight-loss drugs.
↑ X NOW PLAYING The Weight-Loss Drug Market Is Hot. Which Medical Stock Will Win The Battle For Supremacy?Investors are closely watching the biotech company for its experimental obesity treatment, VK2735, a potential rival to shots from Novo Nordisk (NVO) and Eli Lilly (LLY). The company is often pegged as a possible takeover candidate, especially for big pharmas looking to get into the obesity space.
But on Wednesday's call, Viking didn't offer any material updates, William Blair analyst Andy Hsieh said in a report to clients.
In response, Viking Therapeutics stock tumbled 9.7% to 30.25.
Viking's drug most closely resembles Eli Lilly's Zepbound. It mimics two hormones called GLP-1 and GIPR to improve feelings of satiety and markers of blood sugar.
The company has said it's considering running a study of the drug, VK2735, as a monthly shot. Lilly's Zepbound and Novo's Wegovy are weekly injections.
But Wednesday's updates were mostly incremental.
Viking is planning to run a final-phase study of VK2735 in patients with obesity and obesity with type 2 diabetes. That test is planned for the second quarter. Later this year, the company expects to run a 13-week study of the oral formulation of VK2735.
Viking Therapeutics is also planning to begin testing a next-generation drug sometime this year. That drug would mimic amylin and calcitonin. Amylin plays a role in regulating blood sugar levels and satiety, while calcitonin regulates calcium levels in the blood.
Viking Therapeutics stock topped out at 99.41 last February. Shares have since fallen more than 66% since then.
YOU MAY ALSO LIKE:
GSK Surges 8% After Bumping Its 2031 Outlook To North Of $50 Billion
How Boston Sci Leaned On Its New Heart Device For A Fourth-Quarter Beat
Find Today's Best Growth Stocks To Watch With IBD 50
See IBD Stock Lists & Get Pass/Fail Ratings For All Your Stocks With IBD Digital
Want More IBD Insights? Subscribe To Our Investing Podcast!
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。