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☆ Amgen wants in on the booming weight loss drug market — and it's taking a different approach
▼ + stars: | 2024-03-24 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +9 min

Mario Tama | Getty ImagesAmgen is taking a new approach as it tries to stand out in a crowded field of drugmakers racing to develop the next blockbuster weight loss drug. It's too early to say how competitive Amgen will be in the budding weight loss drug space, which Novo Nordisk and Eli Lilly have so far dominated. Goldman Sachs also projects that between 10 million and 70 million Americans will be taking weight loss drugs by 2028. The sustained weight loss in Amgen's study appears to contrast with results seen in clinical trials on Zepbound and Wegovy. An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023.

Persons: Mario Tama, Eli Lilly, Goldman Sachs, Zepbound, Eli Lilly's, Amgen's MartiTide, Caroline Apovian, Apovian, Joe Buglewicz, MariTide, Holly Lofton, Eli Lilly’s, Brendan McDermid, Reuters Amgen's, William Blair, Matt Phipps, Phipps Organizations: Getty, Novo Nordisk, Pfizer, Viking Therapeutics, Therapeutics, Zealand Pharma, Boehringer, Center, Weight Management, Wellness, Brigham, Women's, Washington Post, NYU Langone Health, Reuters, William Blair & Company, CNBC Locations: Thousand Oaks , California, Oaks , California, Novo, New York City, U.S

☆ Viking Therapeutics' weight loss drug showed faster results in clinical trials than Ozempic or Wegovy. Here's how it works.
▼ + stars: | 2024-02-28 | by ( ) www.businessinsider.com time to read: +3 min

Biotech company Viking Therapeutics saw stock prices double after a report on weight loss drug VK2735. The new drug could lead to even more weight loss at a faster pace than Ozempic or Mounjaro. Viking Therapeutics, a small California-based biotech company, shared the topline results from a mid-stage trial of its drug VK2735 on February 27. AdvertisementHowever, the early results of clinical trials suggest it could be on par to offer even more weight loss in less time than its competitors. How Viking Therapeutics' weight-loss drug worksVK2735 mimics two hormones that affect weight control.

Persons: —, Eli Lilly, GIP, VK2735 Organizations: Biotech, Viking Therapeutics, Service, Novo Nordisk, Washington Post, Therapeutics, Viking Locations: California

☆ Viking Therapeutics stock jumps 80% after positive weight loss drug trial results
▼ + stars: | 2024-02-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Shares of Viking Therapeutics soared more than 80% in premarket trading Tuesday after the company's experimental weight loss drug showed promising initial results in a mid-stage trial. Viking Therapeutics is one of several small obesity drugmakers hoping to enter the budding weight loss drug industry, which analysts say could grow into a $100 billion market by the end of the decade. Separately, the company said it expects to release early-stage trial data on an oral version of its weight loss drug. Viking Therapeutics' drug targets GLP-1 and another hormone called GIP. Those are the same hormones that Eli Lilly's weight loss and diabetes drugs, Zepbound and Mounjaro, target.

Persons: Brian Lian, Eli Lilly's Organizations: Viking Therapeutics, Viking, Food and Drug Administration

☆ Stocks making the biggest moves premarket: Unity Software, Cava, Zoom Video, Viking Therapeutics and more
▼ + stars: | 2024-02-27 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Unity Software — Shares tumbled 15% after the video game developer forecasted that adjusted EBITDA would come in below analysts' expectations for the current quarter. Analysts polled by FactSet had expected $113 million in EBITDA, while Unity is expecting only between $45 million to $50 million. Workday's adjusted earnings came in at $1.57 a share, higher than the $1.47 expected by analysts polled by LSEG. AutoZone's earnings of $28.89 per share topped the $26.28 per share analysts had anticipated, according to LSEG. The company's $3.85 billion revenue was also higher than the anticipated $3.84 billion.

Persons: FactSet, LSEG, CarGurus, they'll, AutoZone, EBITDA, Wells, — CNBC's Michelle Fox, Tanaya Macheel, Sarah Min, Jesse Pound Organizations: Unity, LSEG, FactSet, PPG, Barclays, PPG Industries, FDA Locations: EBITDA, Cava, Wells Fargo, U.S, Canada

☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Unity Software, Viking Therapeutics and more
▼ + stars: | 2024-02-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Norwegian Cruise Line — The cruise ship operator soared 18% on strong forward guidance. Unity expects adjusted EBITDA to range between $45 million and $50 million, versus the $113 million expected by analysts polled by FactSet. Viking Therapeutics — The clinical-stage biotech soared more than 90% after fulfilling primary and secondary endpoints in its Phase 2 GLP-1 study. Earnings came in at $1.57 per share, beating expectations of $1.47 per share, according to LSEG, formerly known as Refinitiv. Revenue of $1.92 billion matched analysts' expectations.

Persons: Viking, LSEG, Cava, Wells, Duolingo, CarGurus, — AutoZone, Microstrategy, —, Sarah Min, Michelle Fox, Alex Harring, Jesse Pound, Yun Li Organizations: Cruise, Unity Software, FactSet, Therapeutics, Hess Corporation, Chevron, Exxon Mobil, China's, Offshore Oil Corp, Hess, Bank of America Securities, Seaport Research Partners, CleanSpark Locations: Cava

☆ Viking stock doubled Tuesday. Here's where the next moves in the obesity space could come from
▼ + stars: | 2024-02-27 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +8 min

VKTX YTD mountain Viking shares year to date Then, Viking shares more than doubled in trading on Tuesday, putting the stock on pace to report a more than 300% year-to-date gain, after the company said its GLP-1/GIP receptor agonist VK2735 hit all its primary goals in a phase 2 clinical trial. The Tema Cardiovascular and Metabolic ETF (HRTS) , which is up 12% year to date, owns Novo, Lilly and Viking. Still early days Some analysts and investors admit it is still very early days for obesity treatment and many questions remain to be answered. "We continue to expect above consensus growth in the space, as we are bullish on adoption from payers and broader obesity uptake," Meacham wrote. For obesity only, Lilly has already gained a 38% share, despite only being in the market for 13 weeks, he said.

Persons: Eli Lilly, Geoff Meacham, Meacham, Lilly, Yuri Khodjamirian, Khodjamirian, Jeff Jonas, Becton Dickinson, Novo, BofA's Meacham, What's, Tema's, it's, Gabelli's Jonas, he's, William Blair, Andy Hsieh, Hsieh Organizations: Novo Nordisk, Bank of America, Centers for Disease Control, Zealand Pharma, Viking Therapeutics, Zealand, Food and Drug Administration, Novo, Metabolic, Therapeutics, Pharmaceuticals, Rock, AstraZeneca, Roche, Gabelli Funds, FDA, Viking, Merck, Pfizer Locations: U.S, Tema, Novo Nordisk's, GLP, Lilly

☆ Stocks making the biggest moves after hours: United Airlines, J.B. Hunt, Interactive Brokers and more
▼ + stars: | 2023-10-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

United Airlines said it expects adjusted earnings to range between $1.50 and $1.80 per share, versus the $2.06 per share expected by analysts polled by LSEG, formerly known as Refinitiv. For the recent quarter, the company topped Wall Street's expectations, reporting adjusted earnings of $3.65 per share on $14.48 billion in revenue. J.B. Hunt Transport Services — The transportation and logistics stock lost 2% after reporting third-quarter results that fell short of Wall Street's expectations. J.B. Hunt posted earnings of $1.80 per share, versus the $1.84 per share expected by analysts surveyed by LSEG. Interactive Brokers posted third-quarter adjusted earnings of $1.55 per share on adjusted revenue of $1.14 billion.

Persons: J.B, Hunt, Omnicom, FactSet, LSEG, —, Darla Mercado Organizations: United Airlines —, United Airlines, LSEG, Hunt Transport Services, LSEG . Revenue, Interactive, Viking Therapeutics Locations: Tel Aviv, Israel

☆ Factbox: Novo Nordisk's weight-loss drug cuts heart disease risk in study
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +3 min

[1/2] A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. AMGENAmgen's (AMGN.O) experimental obesity drug, AMG133, showed a mean weight loss of 14.5% after 12 weeks of treatment at the highest monthly dose. The company plans to test higher doses of the drug over a longer treatment window in a mid-stage trial. ZEALAND PHARMADenmark's Zealand Pharma (ZELA.CO) and Boehringer Ingelheim's experimental obesity treatment achieved up to 14.9% weight loss in a mid-stage trial on Wednesday. OPKO HEALTH Opko Health (OPK.O) has completed a mid-stage trial of its obesity drug, pegapamodutide, which it expects will have fewer side effects.

Persons: Jim Vondruska, Wegovy, Eli Lilly, ELI LILLY Lilly, Mounjaro, LLY.N, danuglipron, AMGEN, ALTIMMUNE, Mariam Sunny, Pratik Jain, Sriparna Roy, Sriraj Kalluvila, Anil D'Silva Organizations: REUTERS, Novo Nordisk, Pfizer, NOVO NORDISK Novo Nordisk, Novo, PFIZER Pfizer Inc, danuglipron, THERAPEUTICS, Therapeutics, ZEALAND PHARMA Denmark's Zealand Pharma, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

☆ Viking joins obesity drug race after promising early trial data
▼ + stars: | 2023-03-28 | by ( Mariam Esunny | ) www.reuters.com time to read: +2 min

March 28 (Reuters) - Viking Therapeutics Inc's (VKTX.O) experimental obesity drug helped reduce weight and was safe in an early-stage study, the company said on Tuesday, sparking a 60% rise in its shares. While Novo Nordisk (NOVOb.CO) already has its obesity drug, Wegovy, in the market, Eli Lilly is expecting approval for its treatment later this year. That could also make Viking a potential acquisition target, Laidlaw & Company analyst Yale Jen said. Viking said it was planning to test higher doses of the drug over a longer treatment window in a mid-stage trial, versus a shorter limit in the current, early-stage trial. Shares of Viking were trading at $14.15, bringing the drugmaker closer to a market capitalization of $1 billion.

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