Viking falls as rival Amgen 'pleased' with interim weight-loss drug data
Updates
** Shares of drug developer Viking Therapeutics VKTX.O fall 3.4% to $73.20 premarket
** Rival Amgen AMGN.O said late on Thursday it was "very pleased" with interim safety and efficacy data from a mid-stage study of its experimental weight-loss drug MariTide
** AMGN shares rise 13.2% to $315.17 premarket, company expects to release mid-stage data for MariTide later this year
** VKTX's injectable weight-loss drug has shown to help patients lose nearly 15% of their body weight on average in a study
** Viking and Eli Lilly's weight-loss treatments have a more validated mechanism of action that has been tried and tested, which may give it higher preference in a commercial setting compared to Amgen's MariTide, according to analysts at Truist Securities
** "We think the knee-jerk sell-off is a buying opportunity" - Truist
** Shares of weight-loss drug market leaders Eli Lily LLY.N down ~1.2% premarket and Novo Nordisk NOVOB.CO down 3.8%
** As of last close, VKTX shares have more than quadrupled this year
** YTD, AMGN down 3.3%, while LLY up about 30% and Novo up about 20%
Reporting by Bhanvi Satija and Christy Santhosh in Bengaluru
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.