Viking Therapeutics Shares Surge Nearly 40% as Weight Loss Drug Advances, Eli Lilly Loses $120 Billion in Market Value

Shares of Viking Therapeutics soared nearly 40% intraday following discussions with the FDA that accelerated the development of their weight loss candidate VK2735 to phase 3 trials, potentially advancing its market debut by a year. This drug, administered monthly, is anticipated to be more convenient than Eli Lilly and Novo Nordisk's treatments. The oral version of VK2735 will begin mid-stage trials in Q4 this year. Positive news from Roche in the same field contributed to an 8-day, 14% decline in Eli Lilly's stock, resulting in a market value loss exceeding $120 billion.