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The filed complaint alleges that Viking Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: 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 this news, Viking's stock price fell over 13% on November 4, 2024.
In order to be eligible to join the VKTX class action lawsuit, you must have incurred a loss on shares of Viking Therapeutics, Inc. purchased during the class period listed above.
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