When we first mentioned Viking Therapeutics (VKTX) with the Chart of Day, it traded at around $35 a share on February 20. By March 5, it was above $92 a share.
Today, after slipping to $66.72 on competitor trial news, VKTX is starting to push higher again.
Last trading at $66.72, we’d like to see it challenge $92 again shortly.
VKTX recently announced Phase 2 data for their obesity drug. After just 13 weeks, 35 patients titrated up to 15 mg of once-weekly VK2735 lost 14.7% of their baseline weight, a 13.1% improvement over placebo.
There’s also speculation VKTX could be an acquisition target.
Working much like Eli Lilly’s Mounjaro, which stimulates GLP-1 and GIP, VKTX’s treatment triggers a feeling of fulness in the body after eating, which then leads to weight loss.
We also have to remember that the obesity story is bursting at the seams. According to the World Health Organization, obesity has tripled since 1975. More than 1.9 billion adults were overweight as of 2016, with more than 650 million considered obese. Plus, more than 340 million children were considered overweight in 2016, as well.
At the rate we’re going, obesity will be the downfall of millions.
However, if millions of people can take a pill or get a shot to help lose weight, it could create an unbelievable multi-billion-dollar opportunity for stocks like VKTX.
