Why Viking Therapeutics Tumbled by More Than 10% This Week

News of a fresh licensing deal by a well-capitalized rival sent Viking Therapeutics (NASDAQ: VKTX) stock into something of a tailspin this week. According to data compiled by S&P Global Market Intelligence, the biotech's share price fell by just over 10% over the period as a result.That news hit the headlines on Wednesday, with global pharmaceutical company Merck announcing that it had entered into an exclusive worldwide licensing arrangement for a GLP-1 obesity drug currently in development. It is licensing HS-10535, a pre-clinical experimental treatment administered orally, that was developed by Chinese biotech Hansoh Pharma. GLP-1 weight loss drugs have been wildly popular since they first started winning U.S. Food and Drug Administration (FDA) approval in mid-2021. Their popularity in the American market is understandable, given the relatively high levels of obesity within our borders. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool