Viking Therapeutics (NASDAQ:VKTX) shares are surging after the company reported positive results for its weight-loss drug candidate — the stock gained over 40% in two days.
• Vertex Pharmaceuticals stock is trading near recent highs. What’s next for VRTX stock?
Vk2735 Holds Weight Loss with Less Frequent Dosing
On Tuesday, Viking Therapeutics announced that its lead obesity drug, VK2735, maintained weight loss with less frequent dosing. The dual GLP-1 and GIP receptor agonist showed superior weight loss maintenance when transitioning to monthly and biweekly dosing schedules compared to placebo.
The company plans to explore oral maintenance dosing regimens in a second phase of the current study. Viking’s approach points to extended dosing as an option for maintaining weight loss.
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Novo Nordisk Trial Miss Adds Heat to Obesity Drug Race
Viking’s stock gains come as obesity drug makers jostle for market share. Viking shares rose Feb. 23 after Novo Nordisk’s (NYSE:NVO) REDEFINE 4 trial failed to show non-inferiority in weight loss compared with Eli Lilly And Co.’s (NYSE:LLY) tirzepatide.
Viking’s dual approach with VK2735, offering both injectable and oral options, positions it favorably as no other dual or triple agonist is available in both forms.
Technical Analysis
Viking Therapeutics’ RSI stands at 72.55, indicating an overbought condition. The stock trades 22.83% above its 50-day SMA of $33.91 and 25% above its 200-day SMA of $33.32, with the 50-day SMA above the 200-day SMA.
VRTX Price Action: Viking Therapeutics stock closed Wednesday at $41.65. Its 51-week high is $43.15 and 52-week low is $24.78.
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