NEW YORK, Nov. 18, 2024 -- Pomerantz LLP is investigating claims on behalf of investors of Viking Therapeutics, Inc. ("Viking" or the "Company") (NASDAQ: VKTX). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Viking and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 3, 2024, Viking released positive trial data for VK2735, the Company's anti-obesity drug, as part of a presentation at the Obesity Week medical meeting, causing Viking's stock price to climb 9% during intraday trading on November 4, 2024. However, analysts were quick to note that Viking may face production problems for VK2735, especially for 100mg or higher doses. Analysts at Deutsche Bank stated in a note that scaling up production for the drug "will be costly with capital requirements and expertise beyond what [Eli] Lilly (LLY) and Novo [Nordisk] (NVO) currently have[.]"
Following these reports, Viking's stock price fell $9.74 per share, or 13.36%, to close at $63.14 per share on November 4, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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