Why Viking Therapeutics Stock Bumped 3% Higher Today
A major C-suite change at a potential competitor was a key factor behind the rise of Viking Therapeutics (NASDAQ: VKTX) stock on Friday, which closed the trading session 3% higher. That figure was well higher than the 0.7% increase of the benchmark S&P 500 index.
What's new at Novo
That rival is Novo Nordisk, which announced that its current CEO Lars Jørgensen is to vacate his position.
This is the Denmark-based pharmaceutical company that vaulted to prominence earlier this decade when its Wegovy became the first GLP-1 drug approved for obesity by the U.S. Food and Drug Administration (FDA).
The European company is a potential competitor because, similarly, Viking has gained a degree of fame with its VK2735, an investigational weight-loss treatment. The medicine performed exceedingly well in phase 2 clinical testing, and hopes are high that it will not only win FDA approval ultimately, but will be a hot item in a hot market when commercialized.
A distraction at best
Of course, what happens at Novo Nordisk doesn't directly affect Viking's operations, most crucially its development activities. Still, any change in a company's leadership threatens to affect its business momentum, and the weight-loss drug segment is getting increasingly competitive. Even small stumbles, or poor personnel decisions, could mean loss of market share for the Danish pharmaceutical.
That said, the reaction with Viking stock seems a bit overdone, especially given that Novo Nordisk is quite a storied enterprise that will likely take care in replacing its CEO. Viking investors should be far more concerned with the progress of VK2735 than what's happening outside the company.
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- Globe and Mail
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Spinal Muscular Atrophy Pipeline Therapeutics Assessment DelveInsight's Spinal Muscular Atrophy Report covers around 20+ products under different phases of clinical development like Late-stage products (Phase III) Mid-stage products (Phase II) Early-stage product (Phase I) Pre-clinical and Discovery stage candidates Discontinued & Inactive candidates Route of Administration Emerging Spinal Muscular Atrophy Drugs Under Different Phases of Clinical Development Include: ACTX-401: Novartis Apitegromab: Scholar Rock GYM329: Roche And Many Others Spinal Muscular Atrophy Pipeline Analysis: The Spinal Muscular Atrophy pipeline report provides insights into The report provides detailed insights about companies that are developing therapies for the Spinal Muscular Atrophy treatment with aggregate therapies developed by each company for the same. 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The report is built using data and information traced from the researcher's proprietary databases, company/university websites, clinical trial registries, conferences, SEC filings, investor presentations, and featured press releases from company/university websites and industry-specific third-party sources, etc. Further Spinal Muscular Atrophy product details are provided in the report. Download the Spinal Muscular Atrophy pipeline report to learn more about the emerging Spinal Muscular Atrophy therapies @ Spinal Muscular Atrophy Companies and Drugs Scope of Spinal Muscular Atrophy Pipeline Drug Insight Coverage: Global Key Spinal Muscular Atrophy Companies: Scholar Rock, Biogen, Astellas Pharma, Alcyone Therapeutics, AndroScience Corporation, Hanugen Theraputics, Voyager Therapeutics, Hoffmann-La Roche, Catalyst Pharmaceuticals, NMD Pharma, Biohaven Pharmaceuticals, CANbridge Pharmaceuticals Inc., Aurimed Pharma, Exicure, Amylon Therapeutics, Amniotics, and others Key Spinal Muscular Atrophy Therapies: AS-202, HK001, Tegoprubart, AP-101, BLZ945, ANX005, MN-166, TW001, BIIB067, and others Spinal Muscular Atrophy Therapeutic Assessment: Spinal Muscular Atrophy current marketed and Spinal Muscular Atrophy emerging therapies Spinal Muscular Atrophy Market Dynamics: Spinal Muscular Atrophy market drivers and Spinal Muscular Atrophy market barriers Table of Contents Spinal Muscular Atrophy Report Introduction Spinal Muscular Atrophy Executive Summary Spinal Muscular Atrophy Overview Spinal Muscular Atrophy- Analytical Perspective In-depth Commercial Assessment Spinal Muscular Atrophy Pipeline Therapeutics Spinal Muscular Atrophy Late Stage Products (Phase II/III) Spinal Muscular Atrophy Mid Stage Products (Phase II) Spinal Muscular Atrophy Early Stage Products (Phase I) Spinal Muscular Atrophy Preclinical Stage Products Spinal Muscular Atrophy Therapeutics Assessment Spinal Muscular Atrophy Inactive Products Company-University Collaborations (Licensing/Partnering) Analysis Spinal Muscular Atrophy Key Companies Spinal Muscular Atrophy Key Products Spinal Muscular Atrophy Unmet Needs Spinal Muscular Atrophy Market Drivers and Barriers Spinal Muscular Atrophy Future Perspectives and Conclusion Spinal Muscular Atrophy Analyst Views Appendix About DelveInsight About DelveInsight DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. Media Contact Company Name: DelveInsight Business Research LLP Contact Person: Ankit Nigam Email: Send Email Phone: +14699457679 Address: 304 S. Jones Blvd #2432 City: Albany State: New York Country: United States Website:
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Article content Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that these assumptions will prove to be correct and there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Article content By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the applicable securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. Article content Article content Article content Article content Contacts Article content Devonian Health Group Inc. Article content Article content Dr. André Boulet Article content Article content Article content Article content
