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SPDR S&P 500 ETF Newsroom
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Is the weight loss drug field about to change? Viking Therapeutics surged nearly 40% intraday, causing eli lilly and co's market cap to shrink by $120 billion.
After communicating with regulatory institution FDA, USA's Viking Therapeutics unexpectedly made progress in advancing weight loss drug VK2735 to phase III clinical trials, which may lead to an advance of its launch time by one year. This drug is expected to be injected once a month, which is more convenient than the same magical medicine from Eli Lilly and Novo Nordisk. The oral version of VK2735 will start phase II trials in the fourth quarter of this year. Coupled with the bullish news from Swiss pharmaceutical company Roche in the same field, Eli Lilly's stock has fallen by 14% in eight trading days, the worst since 2020, reducing its market cap by more than 120 billion USD from its peak.
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