Viking weight loss pill sees positive early data
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 4 November 2024
⏱️ 5 minutes
🧾️ Download transcript
Summary
Show Notes
Marriott's full year outlook lowered again on sluggish Chinese markets
Episode transcripts: seekingalpha.com/wsb
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis. |
| 0:10.3 | Good afternoon. Today is Monday, November 4th, and I'm your host, Kim Kahn. Our top story so far. |
| 0:15.9 | Shares of Viking therapeutics are surging after the biotech reported promising results for its experimental obesity |
| 0:21.8 | pill with increased weight loss observed at higher doses. Patients on 100 milligram doses of |
| 0:27.6 | Vikings VK-2735 lost an average of 8.2% of their body weight after 28 days in an early-stage trial, |
| 0:35.3 | or 6.8% more than those taking a placebo. The study includes |
| 0:39.6 | 92 people taking a variety of dose levels, with 100 milligrams the highest. There are no |
| 0:45.1 | discontinuations of the drug at the highest dose, with the most common side effects being |
| 0:48.8 | constipation, nausea, and vomiting, similar to other obesity drugs. VK 2735 is a dual GLP-1-GIP receptor agonist, |
| 0:58.8 | similar to Eli Lilly's Blockbuster Weight Loss drug Zepbound, designed to treat obesity and other |
| 1:03.7 | metabolic disorders. Viking plans to begin a phase two study of the oral VK2735 for obesity before the end of 2024. The oral version is being |
| 1:13.6 | developed as an alternative for patients hesitant for injection-based therapy, looking to maintain |
| 1:18.5 | their weight loss or transition away from the injectable version of VK2735. According to Dow Jones, |
| 1:25.3 | Stiefel analyst Annabel Simimi says, |
| 1:34.9 | both oral and injectable VK 2735 continues to boast one of the most competitive profiles in the obesity space, |
| 1:41.2 | with strong efficacy and tolerability and now a potential for versatile monthly dosing for maintenance therapy. |
| 1:46.8 | In today's trading, stocks are understandably cautious with the election on Tuesday and then a Fed decision on Thursday. |
| 1:48.4 | Treasury yields, on the other hand, are significantly lower across the curve, with a tenure |
| 1:52.5 | back below 4.3%. |
| 1:54.2 | Carol Schleaf, chief investment officer at BMO Family Office, says, any volatility this week |
| 1:59.9 | would be a normal pullback in our view, |
| 2:01.9 | and an opportunity to put new cash to work, especially cash that has been sitting on the sidelines. |
... |
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