On March 21, we noted, “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.”
Today, VKTX is up to $85 on a volume spike to 10.47 million shares, as compared to its daily average of 6.18 million.
All thanks to its latest promising new weight loss pill data. Based on the latest results, Viking plans to start Phase 2 trials of its once-a-day weight loss pill later this year. This is the oral version of the company’s weight loss injection, which is also showing encouraging results in mid-stage trials.
As noted by CNBC, “The phase one trial for the pill followed more than 40 patients with obesity for around a month. Those people took different dose sizes of the drug or received a placebo. Viking said patients who received the pill once a day lost up to 5.3% of their weight on average, or up to 3.3% more than those who took a placebo, at 28 days.”
“Up to 57% of patients who received Viking’s pill lost at least 5% of their body weight. Meanwhile, no people who took the placebo shed that much weight.”
