Market Pulse
Viking's stock rallies as it announces trial for oral version of obesity drug
Shares of Viking Therapeutics Inc. (VKTX) soared about 45% in premarket trading on Tuesday after the company said it started a Phase 1 clinical trial evaluating an oral version of its dual glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptor agonist. The experimental therapy is being tested as a treatment for obesity. Viking expects to have data from this study in the second half. Interest in these types of drugs has soared since the runaway success of Novo Nordisk's semaglutide, which is a GLP-1 receptor agonist, and Eli Lilly & Co.'s (LLY) tirzepatide, which is a dual GLP-1/GIP receptor agonist. Viking's stock has declined 3.0% so far this year, while the broader S&P 500 is up 4.0%.
-Jaimy Lee
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March 28, 2023 08:19 ET (12:19 GMT)
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