2024-03-26 09:05:48 ET
Viking Therapeutics Inc (NASDAQ: VKTX) is up nearly 20% on Tuesday after reporting encouraging early-stage data for its experimental weight-loss oral drug.
Is Viking Therapeutics’ oral weight-loss drug effective?
The biotechnology company said its candidate treatment was shown to be effective in reducing weight in a Phase 1 trial.
is now scheduled to launch a Phase 2 study before the end of this year since its aforementioned tablet remained safe for use in the early-stage trial. Brian Lian – the chief executive of Viking Therapeutics said in a press release today:
We believe that an oral agent with good tolerability could represent an attractive potential treatment option for patients with obesity.
Viking Therapeutics stock is now up a whopping 350% versus the start of this year.
has an injectable weight-loss drug as well
The oral tablet helped participants of its study lower their respective weights by some 3.3% (placebo adjusted) in 28 days, as per Viking Therapeutics Inc. According to CEO Lian:
We look forward to exploring longer treatment windows and potentially higher doses.
Note that last month reported data for a Phase 2 trial of its experimental injectable weight-loss drug. VK2735 was shown to help lower weight by 15% at the time.
In February, the Nasdaq-listed firm reported $24.6 million loss or 25 cents per share for its fiscal Q4. Wall Street currently has a consensus “buy” rating on Viking Therapeutics stock that ended its recent quarter with $362 million in cash.
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