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Last year, Viking Therapeutics (VKTX 1.83%), a mid-cap biotech, attracted the market's attention thanks to excellent midstage clinical trial results. The company's shares soared in late February 2024, but, unfortunately, they have been southbound since then.
Viking Therapeutics (VKTX -0.30%) is a promising growth stock with a strong GLP-1 drug candidate in VK2735, which may eventually rake in significant revenue from the anti-obesity market. It has demonstrated encouraging results in clinical trials; however, it isn't approved just yet.
When it comes to clinical weight-loss treatments, GLP-1 therapies have taken the medical sector by storm. What started as off-label use by celebrities and social media influencers for cutting weight became a viral sensation as type 2 diabetes medicine Ozempic kicked off the GLP-1 trend.
In the closing of the recent trading day, Viking Therapeutics, Inc. (VKTX) stood at $29.73, denoting a +0.61% change from the preceding trading day.
Viking Therapeutics' hit yearly lows despite strong sector expectations, as it enters pivotal trials for obesity drugs. The biotech announced a production deal with CordenPharma, signaling confidence in FDA approval and eliminating the need for capital-intensive manufacturing facilities. The $150 million prepayment deal with CordenPharma ensures production capacity ensures production capacity for 1 billion oral tablets and billions in annual revenues.
Given the optimism around its obesity candidate, we believe investors should stay invested in Viking Therapeutics.
Over the past few days, as the rest of the stock market melted down, a revolution has been quietly brewing in the market for GLP-1 weight-loss drugs. Current runners-up Viking Therapeutics (VKTX 10.22%) and Roche Holdings (RHHBY 3.62%), up 11.3% and 4%, respectively, through 10:05 a.m.
Viking has found a manufacturing partner, removing a key overhang on the stock.
The deal provides Viking Therapeutics with a secured dedicated annual supply of both injectable and oral versions of its obesity drug VK2735.
Viking Therapeutics announced a supply deal with CordenPharma that sets it up for a standalone path to the obesity market. The deal covers a substantial supply of both the subcutaneous and oral VK2735. The probability of a buyout is not zero, but I believe it is now greatly reduced. And that is a good thing.