Viking Therapeutics - Viking Therapeutics' stock has declined by 37% this year due to disappointing phase 2 results for its oral GLP-1 weight loss candidate, VK2735, with 20% of participants dropping out due to adverse side effects, primarily gastrointestinal issues [4][5] - Despite the setback, Wall Street analysts remain bullish, with an average price target of $88.78, suggesting a potential upside of 245% from current levels [2] - The phase 2 study showed an average weight loss of 12.2% at the highest dose after 13 weeks, with no weight-loss plateau observed, indicating strong efficacy compared to competitors [6][7] - Viking has a promising pipeline, including a subcutaneous version of VK2735 in phase 3 studies and another candidate, VK2809, for metabolic dysfunction-associated steatohepatitis, expected to advance to phase 3 soon [8][9] Regeneron Pharmaceuticals - Regeneron Pharmaceuticals has faced competition from biosimilars for its Eylea medication, but the newly approved high-dose formulation is helping mitigate losses [10] - The company's revenue increased by 4% year over year to $3.68 billion, driven by strong performance from eczema treatment Dupixent, which saw a 22% increase in worldwide sales to $4.34 billion [11] - Regeneron is expected to earn label expansions for Eylea HD in the U.S. and has recently received approval for Lynozyfic, a new cancer medicine [12] - The company has a robust pipeline, including trevogrumab for muscle loss in patients using GLP-1 weight management medicines and a gene therapy for a type of genetic deafness [13] - Despite current stock declines, Regeneron is positioned to deliver superior long-term returns to patient investors [14]

Core Insights - Eli Lilly and Company (LLY) is a significant player in the diabetes and obesity drug market, primarily due to the success of its GLP-1 therapies, Mounjaro and Zepbound, which are facing competition from Novo Nordisk's semaglutide medicines [1][2] - The obesity market is projected to grow to $100 billion by 2030, leading to intense competition among key players [2] - Lilly is actively investing in obesity treatments, with several new molecules in clinical development, including orforglipron and retatrutide [3][9] Company Developments - Lilly has reported positive data from two phase III studies on orforglipron, showing significant reductions in A1C and weight among participants [4] - Despite the promising data, the weight loss results from orforglipron fell short of investor expectations, leading to concerns about its market potential [5][6] - Lilly plans to file regulatory applications for orforglipron in obesity by Q4 2025 and for type II diabetes in H1 2026 [7] Competitive Landscape - Other companies, such as Amgen and Viking Therapeutics, are also developing GLP-1-based candidates, intensifying competition in the obesity treatment space [12][16] - Novo Nordisk is advancing its pipeline with an oral version of Wegovy and other next-generation candidates [16] Financial Performance - Lilly's stock has declined by 7.6% this year, contrasting with a 0.2% increase in the industry [17] - The company's stock is currently trading at a price/earnings ratio of 25.29, higher than the industry average of 14.64, but below its 5-year mean of 34.54 [19] Earnings Estimates - Earnings estimates for Lilly have increased for 2025 and 2026, indicating positive market sentiment despite recent setbacks [21]

Core Viewpoint - Viking Therapeutics' shares dropped 36% following mixed results from a mid-stage study of its obesity drug VK2735, raising concerns about the drug's safety and tolerability [1][11]. Company Analysis - VK2735 showed a 12.2% weight loss in patients on the highest dose after 13 weeks, compared to 1.3% in the placebo group, but high dropout rates were noted [1]. - Management suggested that side effects could be mitigated by gradually increasing doses, yet investor sentiment remains negative [2]. - The company currently has no marketed products and faces significant cash burn due to ongoing clinical studies, prompting a focus on the obesity pipeline [8]. Market Competition - The obesity market is projected to reach $100 billion in the U.S. by 2030, with Eli Lilly and Novo Nordisk leading the injectable segment [4]. - Both Eli Lilly and Novo Nordisk are also developing oral weight-loss pills, with recent disappointing results from Lilly's oral GLP-1 pill study [5]. - Novo Nordisk is seeking FDA approval for an oral version of Wegovy, which could enhance its competitive position in the obesity market [6]. Stock Performance and Valuation - Viking Therapeutics' stock has underperformed, dropping 38% this year compared to a 4% growth in the industry [12]. - The stock trades at a premium with a price/book ratio of 3.63, higher than the industry average of 2.98 [14]. - Estimates for losses per share for 2025 and 2026 have widened significantly in the past month [14].

整理 | GLP1减重宝典内容团队 Viking Therapeutics 股价周二暴跌，此前公司公布的肥胖症口服药物中期试验数据未能达到投资者预期。 该生物科技股价从周一收盘时的 42.09 美元跌至周二早盘的约 23.80 美元，跌幅达 43%。Viking 的市值由此前超过 40 亿美元缩水至约 26.9 亿美元。 这一结果对 Viking 是一大打击。该公司曾被视为潜在收购目标，因为制药企业正加速布局快速增长的肥胖和糖尿病药物市场。此举也进一步 巩固了礼来和诺和诺德的领先优势，两家公司研发的减重口服药可能会远早于 Viking 候选药物 VK2735 推向市场。 瑞穗医疗保健股票策略师 Jared Holz 在周二的邮件中表示，这些数据"可能终结了 Viking 在短期到中期内成为口服肥胖药物重要竞争者的希 望"。 开发更便利的肥胖药物一直颇具挑战，辉瑞等公司此前也不得不放弃一些候选药物并转向新项目。 Viking 表示，其每日一次的口服药物在约三个月的时间里帮助患者减轻了最高 12.2% 的体重。公司还指出，减重尚未出现平台期，意味着长 期试验可能带来更大效果。 不过，与礼来和诺和诺德已进入更晚期开 ...

Core Insights - Viking Therapeutics' shares fell 42% following the phase II VENTURE-Oral Dosing study results for VK2735, despite achieving primary and secondary endpoints [1][4] - The study showed significant weight loss in participants, with the highest dose resulting in a 12.2% reduction in body weight [3][6] - High patient dropout rates due to adverse events raised concerns about the drug's tolerability, impacting investor sentiment [4][6] Company Summary - The VENTURE-Oral Dosing study involved approximately 280 adults with obesity or overweight conditions, randomized into six dosing arms [2] - Participants on the highest dose (120 mg) lost an average of 26.6 lbs over 13 weeks, while the placebo group lost only 1.3% [3] - The dropout rate for VK2735 was 28%, compared to 18% for the placebo, leading to skepticism about the drug's market viability [4][6] Industry Context - The obesity market is projected to reach $100 billion in the U.S. by 2030, attracting significant interest from pharmaceutical companies [8] - Eli Lilly and Novo Nordisk are key players in the obesity treatment space, with ongoing developments in oral weight-loss pills [9] - Novo Nordisk is likely to be the first to market an oral obesity pill, with a regulatory filing under FDA review for an oral version of Wegovy [9]

CANADA - 2025/06/14: In this photo illustration, the Viking Therapeutics logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesViking Therapeutics (NASDAQ: VKTX) fell 42% on August 19, 2025, after Phase 2 results for its oral obesity pill VK2735 disappointed investors. The oral formulation led to up to 12.2% weight loss over three months, a weaker outcome versus late-stage treatments from Eli Lilly ...

点击蓝字，关注我们 今日上午港股 1. 周生生(00116)涨超18%， 周生生发布公告，预计中期持续经营业务股东应占溢利约9亿至9.2亿港元。 2. 小鹏汽车-W(09868)涨超4%， 小鹏汽车-W发布截2025年中期业绩，二季度营收同比增长125.3%，创单 季度历史新高。 3. 舜宇光学科技(02382)涨超6%， 8月19日，舜宇光学科技发布截至2025年6月30日止六个月中期业绩， 中期股东应占溢利同比增加52.56%。 5. 翰森制药(03692)跌超8%， 翰森制药公布，公司折让6.5%配股净筹近39亿港元，主要用于创新药物研 发。 6. 泡泡玛特(09992)涨超6%。 泡泡玛特发布2025年中期业绩，上半年经调整净利同比增长3.6倍。 7. 昆仑能源(00135)跌超3%， 8月19日，昆仑能源公布2025年中期业绩，上半年股东应占溢利同比减少 4.36%，中期息派16.6分。 8. 歌礼制药-B(01672)再跌超8%， 歌礼制药近日公告称，拟以先旧后新方式配售，所得款项净额4.68亿 港元。同时，歌礼制药的控股股东套现近3.9亿港元。 9. 易鑫集团(02858)涨超1%， 易鑫集团发 ...

Core Viewpoint - Viking Therapeutics experienced a significant stock drop of nearly 44% following the release of disappointing mid-term trial data for its weight loss drug VK2735, raising concerns about its competitiveness against established players like Eli Lilly and Novo Nordisk [1][3]. Group 1: Company Performance - Viking Therapeutics' stock opened down nearly 44%, marking its largest intraday drop since April 2016 [1]. - The company's market capitalization fell to approximately $2.65 billion after the announcement [2]. - The mid-term trial data indicated that VK2735 helped patients lose up to 12.2% of their weight, with 80% of participants reporting a weight loss of over 10% [3]. Group 2: Clinical Trial Insights - Approximately 28% of patients dropped out of the VK2735 trial within three months, which negatively impacted investor confidence [3]. - In contrast, the previous year, Viking reported positive results from the second phase of VK2735 trials, where patients lost an average of 14.7% of their weight over 13 weeks [4]. Group 3: Industry Context - Eli Lilly's oral weight loss drug Orforglipron also faced scrutiny after its trial results showed a 12.4% average weight loss, leading to a 14% drop in its stock price [6]. - Analysts noted that despite the drop, Eli Lilly's core growth drivers remain strong, and the market reaction may have been an overreaction [6][7].

Core Insights - Investors are disappointed with Viking Therapeutics Inc.'s VKTX data from its Phase 2 trial of an obesity pill, VK2735, which showed a mean body weight reduction of up to 12.2% after 13 weeks from baseline, but concerns over tolerability and higher discontinuation rates have led to a significant stock sell-off [1][3]. Group 1: Trial Results - Participants receiving VK2735 demonstrated a mean body weight reduction of up to 12.2% after 13 weeks from baseline [1]. - VK2735 showed up to a 10.9% reduction in body weight compared to the placebo, with no plateau observed for weight loss at 13 weeks [1]. - All doses of VK2735 greater than 15 mg demonstrated statistically significant differences relative to the placebo on key secondary endpoints, assessing the proportion of subjects who achieved at least 5% and 10% weight loss [2]. Group 2: Tolerability and Discontinuation - Concerns have arisen regarding the tolerability profile of VK2735, with higher rates of discontinuation compared to the Phase I study, which contributed to the stock sell-off [3]. - The 30 mg dose of VK2735 showed a placebo-like safety profile, while the 60 mg group reported higher adverse events and discontinuations [3]. - There is potential for improved tolerability in pivotal studies if the titration period is extended to four weeks instead of the two weeks used in the VENTURE-Oral study [4]. Group 3: Market Position and Future Outlook - Viking's obesity franchise is viewed favorably from an M&A perspective by big pharma, with William Blair previously naming Viking as a top pick for 2025 and reiterating an Outperform rating on its shares [4]. - The company is unlikely to pursue 90 mg or 120 mg doses due to cost-of-goods constraints, making the debate over their tolerability less relevant [4]. - Comparisons with Eli Lilly's tirzepatide indicate that VK2735's dose levels are inferior in terms of weight loss at 13 weeks, raising concerns about its competitive position in the market [5]. Group 4: Stock Performance - VKTX stock has experienced a significant decline, down 41.04% at $24.82 as of the last check on Tuesday [6].

【导读】又一"减肥药"暴跌！ 继诺和诺德、礼来之后，又一减肥药公司暴跌！ 8月19日晚间，"减肥药新贵"Viking Therapeutics(VKTX.US）开盘重挫近44%，创下2016年4月以来最大盘中跌幅。 | VIKING THERAPEUTICS ( △ | | | | --- | --- | --- | | VKTX.0 | | | | 23.605 量 3544.07万 股本 1.12亿 市盈-15.5 | | 万得 | | -18.485 -43.92% 换 31.52% 市值26.5亿 市净 3.34 | | | | 分时 五日 日K 周K 月K 更多 ◎ | | | | 叠加 | 卖1 23.620 1649 | | | 60.620 | 44.02% 买1 23.600 1 | | | 10:36 23.620 200 | | | | 10:36 23.630 350 | | | | 42.090 | 10:36 23.600 300 0.00% | | | 10:36 23.600 | | 13 | | 10:36 23.603 | | 506 | | 10:36 23.618 | ...