Viking Therapeutics Plunges 42.12% on $1.64 Billion Volume, Ranking 39th Despite Strong Trial Data Skepticism

Viking Therapeutics (NASDAQ: VKTX) closed August 19, 2025, with a 42.12% decline, its largest daily drop in months. The stock traded at $1.64 billion in volume, ranking 39th in the market. This sharp sell-off followed the release of positive Phase 2 trial data for its dual GLP-1/GIP receptor agonist VK2735, which demonstrated up to 12.2% mean weight loss in patients with obesity over 13 weeks. The study met primary and secondary endpoints, with statistically significant results across all dose levels above 15 mg. Safety data showed 99% of gastrointestinal adverse events were mild or moderate, aligning with the company’s expectations for manageable tolerability.

Despite robust clinical outcomes, the stock’s performance diverged from typical post-trial optimism. Analysts noted that the magnitude of the decline may reflect market skepticism about the competitive landscape for obesity therapeutics. VK2735’s oral formulation offers a convenience advantage over injectables like semaglutide and tirzepatide, but its efficacy—while strong—remains within the range of existing therapies. The exploratory maintenance dosing cohort suggested potential for long-term weight management at lower doses, yet investors may be pricing in challenges related to differentiation, regulatory hurdles, or manufacturing scalability.

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