Why Viking Therapeutics Stock Plummeted After Soaring Today

For high-profile biotech Viking Therapeutics (NASDAQ: VKTX), Monday was very much a good news/bad news kind of day. The company reported quite encouraging clinical results from a version of its investigational weight-loss drug. Before long, however, this was overshadowed by promising news from rival developers of similar treatments.Ultimately, after an early surge, Viking's shares closed the day more than 13% lower in price.Viking presented those results at ObesityWeek, the annual meeting of scientific interest group the Obesity Society. Its presentations of that weight loss drug, VK2735, revealed that patients administered the highest dose of the drug in pill form lost over 8% of their body weight over a four-week period. This compared very favorably to the 1.4% recorded by patients taking a placebo, and also topped analyst expectations of 5% to 6%. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool