Shares of Viking Therapeutics jumped more than 30% on Thursday after the biotech company a day earlier announced plans to advance its experimental weight loss injection into a late-stage trial earlier than expected.
Viking is one of several small and large drugmakers hoping to compete in the space against Novo Nordisk and Eli Lilly , whose weight loss and diabetes GLP-1s have skyrocketed in demand over the last two years.
During the call, Lian added that Viking expects to test VK2735 as a monthly injection in a future study.
Viking Therapeutics' drug promotes weight loss by targeting a GLP-1 and another hormone called GIP.
That pill caused 3.3% weight loss when compared to a placebo in an early-stage trial.
Persons:
Eli Lilly, Viking, Brian Lian, Lian, Justin Zelin, Zelin, Eli Lilly's Zepbound
Organizations:
Viking Therapeutics, San, Novo Nordisk, Food and Drug Administration, FDA, Novo Nordisk's Wegovy
Locations:
San Diego