Why This Weight Loss Drug Company's Stock Surged Today
Shares in biopharmaceutical company Viking Therapeutics (NASDAQ: VKTX) were up by 6.3% at 12:30 a.m. ET today. The move likely stems from the market digesting the previous day's news that Viking had initiated a phase 3 trial of its most promising program in its pipeline, namely VK2375, a treatment for metabolic disorders, including obesity.There are probably two key reasons why the market likes the initiation of a phase 3 trial:For reference, Novo Nordisk also offers a highly successful weight loss drug, Wegovy, a GLP-1 receptor agonist.Continue reading
Shares in biopharmaceutical company Viking Therapeutics (NASDAQ: VKTX) were up by 6.3% at 12:30 a.m. ET today. The move likely stems from the market digesting the previous day's news that Viking had initiated a phase 3 trial of its most promising program in its pipeline, namely VK2375, a treatment for metabolic disorders, including obesity.
There are probably two key reasons why the market likes the initiation of a phase 3 trial:
For reference, Novo Nordisk also offers a highly successful weight loss drug, Wegovy, a GLP-1 receptor agonist.
