Viking Therapeutics (NASDAQ:VKTX) lost ~38% in the premarket on Tuesday after announcing that its oral tablet formulation of its GLP-1/GIP dual receptor agonist VK2735 caused up to 12.2% of weight loss over 13 weeks in a mid-stage trial.
Citing topline data from its Phase 2 VENTURE-Oral Dosing trial, the company noted that the once-daily therapy was found to be safe and well-tolerated throughout the study period, with many of the treatment-emergent adverse events being mild and moderate.
The trial also achieved primary and secondary endpoints with patients on VK2735, experiencing statistically significant weight loss compared to those on placebo.
While Viking (NASDAQ:VKTX) sold off after the readout, Novo Nordisk (NVO) and Eli Lilly (LLY), its potential competitors in the market for oral weight loss therapy, each traded ~1% higher in the premarket.
This is a developing story. Check back for more updates.