With the obesity treatment story showing no signs of slowing, keep an eye on rebounding shares of Viking Therapeutics (SYM: VKTX).
Earlier this year, the company reported that the injectable form of its obesity treatment helped patients lose up to 13.1% of their weight after 13 weeks. Then, the company said the tablet form of its treatment led to a weight loss of about 3.3% after 28 days in Phase 1 trials. That tablet form of the treatment is expected to enter Phase 2 trials in the second half of the year.
Should we see even more solid trial data for both treatments, VKTX could rally to more than $95 again. Better, further success could expose VKTX to a massive multi-billion-dollar market.
In fact, according to Goldman Sachs, “Earlier this year, the global market for anti-obesity medications (AOMs) reached $6 billion on an annualized basis. By 2030, it could grow by more than 16 times to $100 billion, according to Goldman Sachs Research.”
With that, we’d eventually like to see VKTX where Eli Lilly (SYM: LLY) is with its obesity treatment.
Not only did Eli Lilly just report that its adjusted profits top estimates, but it also hiked its full-year guidance thanks to sales of Mounjaro and Zepbound. “The drugmaker now expects full-year adjusted earnings of $13.50 to $14.00 per share, up from previous guidance of $12.20 to $12.70 per share. Eli Lilly also expects revenue for the year to come in between $42.4 billion and $43.6 billion, an increase of $2 billion at either end of the range,” says. CNBC.
Once VKTX brings an obesity drug to market, we believe the stock could double.
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