Share of Viking theraputics Downs on Tuesday after the company’s release Context test data On his obesity pill which disappointed investors.
The share price of the biotech company was around $ 23.80 as of Tuesday morning, which is a dip of about 43% on Monday, $ 42.09. Viking’s market cap is now about $ 2.69 billion below 4 billion dollars on Monday.
The result may be a shock for the viking, which was Once seen as a hot M&A target As pharmaceutical companies scramble to join the rapidly growing market for obesity and diabetic drugs. It can strengthen the dominance of Ellie lily And Novo nordisk In space, especially as they Develop pills for weight loss It can enter the market years before the tablet formulation of Viking medicine, VK2735.
Jred Holz, Mizuho Health Care Equity Strategist, said in an email on Tuesday that the data “probably expects for shutter [Viking] To be a big player in the oral obesity market for the moderate period. ,
The race to develop a more convenient obesity pill has become frightening as companies such as companies Fizer Previous contenders have to scrap and bring new people forward.
Viking Once daily pill Patients helped lose up to 12.2% of their weight in about three months. The company also said that there were no weight loss plateau, which means that patients may lose even more in a long -term study.
In development, including remedies developed by Ellie Lily and Novo Nordisk, it is difficult to directly compare the pellet two test data with the results of oral drugs.
Holz stated that the results on the viking pill “appear” inferior to Elli Lily’s oral medicine “on almost all metrics. The highest dose of the daily tablet of Ellie Lily helped patients lose 11.2%, regardless of 72 weeks in a phase three tests, regardless of 12.4% of their body weight or 11.2%.
Holz pointed to the high rate of patients who shut down the drug of Viking for more than 13 weeks, which was about 28%. Meanwhile, about a quarter of the people shut down Eli Lily’s bullet, orforglipronFor any reason for more than 72 weeks.
This is “very long test and so [Lilly] Holz said, “It seems better head-to-head.
Viking said that the most common reason for stopping the treatment of patients was gastrointestinal side effects, most of which were seriously to moderate to light and were seen earlier in treatment. But about 58% of patients reported to experience vomiting of nausea and 26% experience, while compared to 48% and 10% respectively, in those who took a placebo.
The rates of those side effects in a short trial period seem worse than those seen in the tests on Elli Lily Pills and the oral version of Novo Nordisk’s weight loss drug vegovi.
Treatment of Viking works by mimicking two naturally produced intestinal hormones called GLP-1 and GIP.
GLP-1 helps in eating food and reducing appetite. GIP, which also suppresses hunger, can also improve how the body breaks sugar and fat.
Ellie Lily’s tablet and Novo Nordisk’s Vagovi’s oral version targets both GLP-1, but the latter has dietary restrictions.
