After 43% Stock Dip, Viking Therapeutics Is Looking Skinnier Despite Failed Obesity Pill
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Viking investors (like angel investors but with horns) were disappointed by the drug company’s latest trial data, leading to a massive 43% stock price dip. But hey, at least someone’s losing weight.
Viking Therapeutics’ new weight loss pill was about as effective as other pills on the market. Great! But the side effects and discontinuation rates were way worse. Not so great!
Share price fell from $42.09 to $23.80, which would be a success on the scales in any other situation. Diet pills are big money now, what with the hype around Ozempic, and Viking was seen as a frontrunner, but I guess the crown for World’s Biggest Loser will have to go to someone else. Maybe Eli Lilly or Novo Nordisk who have obesity drugs that’ll hit shelves years before Viking’s catchily named VK2735.
Oh, and Pfizer. They’re also in the race. Remember them? Yeah, not just your favorite microchip injector.
Jared Holz, Mizuho health care equity strategist, said in an email Tuesday that the data “probably shutters hope for [Viking] to be a bigtime player in the oral obesity market over the near to medium term.” Bet he’s fun at parties.
In related news, the FDA recently altered previous nutritional advice to add an additional food group just for diet pills. The government now recommends that people take ozempic as part of their five a day.
For more real fake news, click this link: Elon Branches Out In Fast Food, Tesla Stock Tumbles
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