Why Viking Therapeutics Stock Surged Nearly 20% Higher in April
One of the best catalysts for a stock's rise is the withdrawal of a rival. That was an important dynamic behind the double-digit-percentage rise of biotech Viking Therapeutics' (NASDAQ: VKTX) stock in April. Another was a looming late-stage clinical trial of a closely watched pipeline drug that's loaded with potential.For a relatively young, clinical-stage company, Viking has developed quite a high profile. That's because its leading drug candidate, VK2735, is its possible entry into the high-demand GLP-1 weight loss drug market. So far, that space is occupied by a mere two treatments that the Food and Drug Administration (FDA) has approved specifically for treating obesity: Novo Nordisk's Wegovy and Eli Lilly's Zepbound.Image source: Getty Images.Continue reading
One of the best catalysts for a stock's rise is the withdrawal of a rival. That was an important dynamic behind the double-digit-percentage rise of biotech Viking Therapeutics' (NASDAQ: VKTX) stock in April. Another was a looming late-stage clinical trial of a closely watched pipeline drug that's loaded with potential.
For a relatively young, clinical-stage company, Viking has developed quite a high profile. That's because its leading drug candidate, VK2735, is its possible entry into the high-demand GLP-1 weight loss drug market. So far, that space is occupied by a mere two treatments that the Food and Drug Administration (FDA) has approved specifically for treating obesity: Novo Nordisk's Wegovy and Eli Lilly's Zepbound.
Image source: Getty Images.
