Viking Therapeutic's (VKTX) Obesity Data Seen as 'Impressive'
Truist Securities analyst Joon Lee commented on Viking Therapeutic (NASDAQ: VKTX) following the release of positive top-line results from Phase 2 VENTURE trial of its dual GLP-1/GIP receptor agonist VK2735 in patients with obesity. The study achieved its primary and all secondary endpoints, demonstrating statistically significant reductions in body weight at all doses as compared to placebo.
Lee called the results "impressive,"
The analyst commented, "This morning, VKTX reported topline data from the much anticipated Ph2 VENTURE study evaluating once weekly subcutaneous VK2735 in weight loss. Bottom line, in our view, the data is very impressive with placebo-adjusted weight loss of 13.1% in just 13 weeks of dosing. Furthermore, tolerability is inline with discontinuation from treatment comparable to placebo group."
Shares of Viking Therapeutic climbed 110%. Rivals Novo Nordisk (NYSE: NVO) and Eli Lilly & Co. (NYSE: LLY) shares were lower by about 2%.
Truist Securities has a Buy rating and $38.00 price target on Viking Therapeutic.
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Shares of Viking Therapeutic closed at $38.48 yesterday.