Viking Therapeutics Advances Weight-Loss Drug, Shaking Up Market Leaders

Shares of Novo Nordisk and Eli Lilly fall as Viking Therapeutics announces progression to phase 3 trials for its promising obesity treatment VK2735.

Viking Therapeutics' VK2735 showed significant weight loss in phase 2 trials, outperforming current market leaders' drugs.
The company plans to meet with the FDA to discuss phase 3 trial details, aiming to start early next year.
VK2735's potential as a monthly injection could offer a competitive edge over weekly treatments from Novo Nordisk and Eli Lilly.
Viking's announcement led to a sharp rise in its stock, while shares of Novo Nordisk and Eli Lilly declined.
The weight-loss drug market is projected to reach $105 billion by 2030, attracting numerous competitors.