Obesity-Drugs Focused Stocks Tumble On Wednesday - What's Going On With Eli Lilly, Novo Nordisk, Viking Therapeutics, Structure Therapeutics?
Eli Lilly And Co (NYSE:LLY), Novo Nordisk A/S (NYSE:NVO), Viking Therapeutics Inc (NASDAQ:VKTX), and Structure Therapeutics Inc (NASDAQ:GPCR) stocks are trading lower on Wednesday.
What happened? Earlier on Wednesday, Roche Holdings AG (OTC:RHHBY) announced topline results from two arms of an ongoing multi-part Phase 1 clinical trial for CT-996 for type 2 diabetes and obesity.
The data showed that treatment with CT-996 in participants with obesity and without type 2 diabetes resulted in a clinically meaningful placebo-adjusted mean weight loss of -6.1% within four weeks.
This data is better compared to existing competitors.
Also Read: EXCLUSIVE: GLP-1 Weight-Loss Drugs Could Become A Trillion-Dollar Market, Predicts Tema ETFs CEO.
In March, Viking Therapeutics released results from the company’s Phase 1 multiple ascending dose trial of an oral tablet formulation of VK2735 in development for metabolic disorders such as obesity.
Cohorts receiving VK2735 demonstrated dose-dependent reductions in mean body weight from baseline of up to 5.3%, and relative to placebo, ranging up to 3.3%.
In a study published on the JAMA Internal Medicine website, Eli Lilly’s Mounjaro users experienced a mean loss in body weight of 5.9% at three months, compared to 3.6% for Novo Nordisk’s Ozempic users.
At six months, the mean loss was 10.1% for Mounjaro users versus 5.8% for Ozempic users. At 12 months, the mean body weight loss for Mounjaro users was 15.3% and 8.3% for Ozempic users.
In June, Structure Therapeutics Inc. (NASDAQ:GPCR) unveiled 12-week topline obesity data from its Phase 2a study of GSBR-1290, demonstrating a clinically meaningful and statistically significant placebo-adjusted mean decrease in weight of 6.2% at 12 weeks.
At Week 12, 67% of GSBR-1290 treated participants achieved ≥6% weight loss, and 33% achieved ≥ 10% weight loss, compared to 0% for placebo.
Price Action: At last check Wednesday, LLY stock was down 3.00% at $913.37, NVO shares were down 4.15% at $135.02, GPCR stock was down 16.01% at $37.50, and VKTX shares were down 11.10% at $50.70.
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Photo by Vidmir Rais via Pixabay
