:max_bytes(150000):strip_icc()/GettyImages-2225995334-07e1edc8d2b54b708a7ec011d67de17c.jpg "Viking Therapeutics Stock Plunges on Oral Weight-Loss Pill Study Results")
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Key Takeaways
- Viking Therapeutics reported a large number of patients dropped out of a study of its experimental weight-loss pill.
- Overall, 28% of those taking VK2735 left the Phase 2 trial early compared with 18% among placebo subjects.
- The research showed the pill reduced the weight of patients who took it for 13 weeks by up to 26.7 pounds.
Viking Therapeutics (VKTX) shares cratered nearly 45% Tuesday when the biopharma firm reported study of its experimental weight-loss pill raised concerns about side effects.
The company said a Phase 2 trial of its VK2735 tablet found that patients lost up to 12.2% of their mean body weight, or about 26.7 pounds, compared to a drop of 1.3% mean body weight, or 2.9 pounds, for those given a placebo.
However, overall 28% of those on VK2735 stopped taking it early, while only 18% of the placebo group did so. Viking said the most common reason for patients discontinuing the treatment was “gastrointestinal (GI)-related adverse events.”
CEO Brian Lian said in a call with analysts that the number of adverse effects were highest in the first week of the trial, and declined as it went on. He explained that “GI-related adverse event rates might be further reduced through lower starting doses and or slower dose escalation,” according to a transcript provided by AlphaSense. Lian added the company looks forward to “exploring this further in an upcoming maintenance dosing study.”
Today’s plunge sent shares of Viking Therapeutics down nearly 40% year-to-date.
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