Why Viking Therapeutics Stock Is Plunging Today
Shares of Viking Therapeutics (NASDAQ: VKTX) were plunging 17.4% lower as of 11:52 a.m. ET on Thursday. This decline wasn't caused by an announcement by Viking. Instead, the sell-off appears to be related to Novo Nordisk (NYSE: NVO) reporting results from a phase 1 study evaluating its experimental oral obesity drug amycretin.
Novo Nordisk revealed in an investor meeting on Thursday that patients receiving amycretin in its early-stage trial achieved an average weight loss of 13.1% after 12 weeks. This improvement matches the placebo-adjusted mean weight loss achieved by Viking's experimental obesity drug VK2735 in a phase 2 study. Viking announced those results last week.
Investors perceived Novo Nordisk's good news as potentially bad news for Viking. Why? VK2735 is administered subcutaneously, whereas amycretin is a pill. With similar efficacy results and greater convenience for patients, Novo Nordisk's drug could steal the thunder from VK2735.
Source Fool.com
Viking Therapeutics Inc Aktie
Viking Therapeutics Inc erfreut sich mäßiger Beliebtheit, mit mehr Buy- als Sell-Einschätzungen.
Für Viking Therapeutics Inc ergibt sich mit einem Kursziel von 110 € eine mögliche Steigerung von über 50% gegenüber 56.7 €.
