Viking's oral pill reduces up to 12.2% weight but shares slump on higher patient exits
Yet, shares of the company slumped nearly 35% in premarket trading after data showed that more patients who received Viking's drug stopped taking the treatment, compared to those who received placebo in the mid-stage study.
Oral drugs are expected to take a significant share of the projected $150 billion weight-loss market, driven by their ease of use compared with injections such as Novo Nordisk's (NOVOb.CO), opens new tab Wegovy and Eli Lilly's (LLY.N), opens new tab Zepbound.
Viking's experimental oral pill is in a tight race with rival treatments being developed by the deeper-pocketed Novo and Lilly.
Earlier this month, Eli Lilly said its experimental daily pill, orforglipron, showed a 12.4% weight loss in patients in a late-stage study over 72 weeks. In a separate trial, Novo's oral semaglutide has shown a weight loss of 15% over 68 weeks. Both the oral drugs are expected to be launched next year.
Ahead of Viking's data, analysts expected weight loss in the range of 10% to 15% on average for the pill, known as VK2735. It had shown an 8.2% average weight-loss in a small early-stage trial.
About 20% of those who received the drug discontinued due to an adverse effect, compared to 13% on placebo in the 280-patient study. The most common reasons for treatment discontinuation were gastrointestinal side effects, the company said.
Like Lilly's Zepbound, Viking's drug also targets hormones known as GLP-1 and GIP that play a critical role in regulating the body's metabolism.
Viking is testing both the oral and under-the-skin injection forms of the drug in overweight patients who have who at least one weight-related comorbidity.
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