Are you looking for the next big investment opportunity in the biotech sector? Look no further than Viking Therapeutics, whose stock skyrocketed more than 30% after announcing plans to fast-track their experimental weight loss injection into a late-stage trial. This move positions Viking to tap into the rapidly growing market for GLP-1s, which analysts predict could reach $150 billion by the end of the decade.
Viking Therapeutics is set to compete with industry giants like Novo Nordisk and Eli Lilly, whose GLP-1 products have seen a surge in demand over the past few years. By advancing their weight loss injection ahead of schedule, Viking is now on track to potentially launch their drug in 2029, a year earlier than previously estimated.
CEO Brian Lian revealed that Viking is also exploring a monthly injection option for their drug, which could offer a more convenient alternative to existing weekly treatments on the market. Their weight loss injection targets GLP-1 and GIP hormones, delivering impressive results in clinical trials with patients experiencing up to a 14.7% reduction in body weight compared to a placebo.
In addition to their injectable formulation, Viking is working on an oral version of their drug, showing promising early-stage results with a 3.3% weight loss compared to a placebo. With innovative approaches to weight loss treatment and a strong focus on meeting FDA requirements, Viking Therapeutics is definitely a company to watch in the biotech industry.
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