NEW YORK CITY, NY / ACCESSWIRE / November 5, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Viking Therapeutics, Inc. ("Viking" or the "Company") (NASDAQ:VKTX). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Viking and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 3, 2024, Viking released positive trial data for VK2735, the Company's anti-obesity drug, as part of a presentation at the Obesity Week medical meeting, causing Viking's stock price to climb 9% during intraday trading on November 4, 2024. However, analysts were quick to note that Viking may face production problems for VK2735, especially for 100mg or higher doses. Analysts at Deutsche Bank stated in a note that scaling up production for the drug "will be costly with capital requirements and expertise beyond what [Eli] Lilly (LLY) and Novo [Nordisk] (NVO) currently have[.]"
Following these reports, Viking's stock price fell $9.74 per share, or 13.36%, to close at $63.14 per share on November 4, 2024.
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SOURCE: Pomerantz LLP