Here's Why VKTX Stock Plummeted 18% on Wednesday

Shares of Viking Therapeutics (VKTX) lost 18% yesterday after pharma giant Merck (MRK) announced its foray into the obesity space. On Wednesday, Merck announced that it has secured a licensing deal for China-based Hansoh Pharma's investigational weight-loss drug. More on MRK's Drug Deal Per the terms of the deal, Merck will obtain exclusive rights to develop and market HS-10535, a preclinical oral small-molecule GLP-1 receptor agonist targeting metabolic disorders, including obesity. Hansoh will receive an ...