SAN DIEGO — Shares of Viking Therapeutics Inc. surged 29.69% to $39.05 in Tuesday trading, adding $8.94, after the clinical-stage biopharmaceutical company reported positive top-line results from a maintenance study of its experimental obesity drug, showing patients retained the vast majority of their weight loss even after switching to a reduced dosing schedule.

The results come from a maintenance trial of VK2735, Viking's dual GLP-1/GIP receptor agonist being developed to compete in the rapidly expanding obesity drug market alongside blockbuster treatments including Eli Lilly's Zepbound and Novo Nordisk's Wegovy. According to the data released Tuesday, the 17.5-milligram weekly dose of VK2735 delivered a 22% placebo-adjusted reduction in body weight over a 33-week treatment period.

The trial's maintenance phase, examining what happens when patients shift away from weekly dosing, produced the results that most directly drove Tuesday's rally. Patients who moved to an every-other-week dosing schedule for 12 weeks retained up to 97% of their prior weight loss, while those who shifted to monthly dosing retained up to 90%, compared with just 61% retention among patients in the placebo group over the same period. Viking also reported a favorable safety........

© International Business Times