Here's Why Shares in Viking Therapeutics Shot Higher in October

Shares in Viking Therapeutics (NASDAQ: VKTX) rose by a whopping 44.9% in October, according to data provided by S&P Global Market Intelligence. The move occurred in three legs, and each one was preceded by positive news flow that encouraged investors to believe in the value of its lead drug candidate VK2735 (to treat obesity and those who are overweight and have type 2 diabetes).The first leg up occurred early in the month and is the result of another round of takeover activity in the biotech industry. Pfizer tried to fill a hole in its obesity pipeline by agreeing to buy Metsera (NASDAQ: MTSR) (owner of an innovative pipeline of weight loss drugs) in late September, only for Novo Nordisk (NYSE: NVO) (itself a key player in the obesity market) to enter an as-yet unresolved bidding war with Pfizer over Metsera in October. Image source: Viking Therapeutics.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool