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Clinical report: Catalysts drive up shares of Viking, Stoke, Praxis

ARTICLE | Product Development

Plus readouts for Nanoscope, Axsome, Chugai, Acelyrin and Nkarta

By Paul Bonanos and Stephen Hansen, Directors of Biopharma Intelligence

March 26, 2024 9:05 PM UTC

Updated on Mar 26, 2024 at 10:45 PM UTC

Clinical catalysts drove big market cap gains this week, with Viking, Stoke and Praxis each reporting news ahead of Tuesday’s trading session that lifted shares by double-digit percentages.

The latest boon for Viking Therapeutics Inc. (NASDAQ:VKTX) was a Phase I readout showing that the top dose its oral version of GLP-1/GIPR agonist VK2735 led to mean placebo-adjusted weight loss of 3.3% at day 28 in a Phase I study. Last month, Viking said its subcutaneous version of the product led to 13.1% placebo-adjusted weight loss after 13 weeks, positioning the company as a potential takeout target for a pharma seeking to break into the obesity arena and doubling its share price…