Obesity stocks were in focus today, with Eli Lilly (LLY) reporting a surprise Q3 earnings miss as sales for its blockbuster GLP-1 drugs fell short of estimates. While the miss largely seemed to be tied to inventory normalization, the pharma giant's downwardly revised forecast pressured stocks involved in the booming weight-loss market.
That includes San Diego-based Viking Therapeutics (VKTX), a pre-revenue clinical-stage biotech company that specializes in developing therapies for metabolic and endocrine disorders. Its portfolio includes promising treatments in various stages of development, which may offer significant therapeutic benefits upon successful approval and commercialization. High hopes are pinned on VK2735, a GLP-1 weight loss treatment drug that could be a game changer for the company.
