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Viking Therapeutics saw a surge of over 15% in its shares on Tuesday following the announcement of positive results from a small study on its experimental weight loss pill. The company is set to move into the next stage of development later this year, adding to the anticipation surrounding its potential in the weight loss drug market.
With the market for weight loss drugs expected to reach $100 billion by the end of the decade, Viking, along with other small biotech companies, aims to compete with industry giants like Novo Nordisk and Eli Lilly. Analysts are eyeing Viking as a strong contender in this space, with some even considering it a potential takeover target for larger companies.
Building on the success of the recent study, Viking is gearing up to launch a phase two trial of its weight loss pill in the coming months. The once-a-day tablet is an oral version of the company’s experimental weight loss injection, which demonstrated promising results in a mid-stage trial last month.
Excitement is mounting around Viking’s potential in the weight loss drug market, making it a company to watch in the coming years.
2024-03-26 15:27:20
Source from www.cnbc.com