Novo obesity data validate Viking’s approach, says William Blair

William Blair analyst Andy Hsieh keeps an Outperform rating on Viking Therapeutics (VKTX) after Novo Nordisk (NVO) presented Phase I trial results of amycretin in obesity. At the highest dose of 100 mg a day, administered orally, amycretin led to a placebo-adjusted weight loss of 12% over 12 weeks, the analyst tells investors in a research note. The firm says the magnitude of weight loss “encroaches into the territory” demonstrated by competitors of the subcutaneous class, which historically have demonstrated higher potency versus oral formulation counterparts. Blair believes Novo’s cagrilintide combined with semaglutide program, which is in Phase III development, together with the amycretin data validates Viking’s approach in advancing an amylin-based program. Based on Viking management commentary, its amylin asset will enter clinical testing next year, Blair points out.