Overnight, Viking Therapeutics' stock price surged 28% to $64.68, with a total market cap of $7.166 billion. So far this year, Viking Therapeutics has accumulated a 247.56% increase. In terms of product structure, 10-30 billion yuan products had operating incomes of 401/1288/60 million yuan respectively.

On the development front, Viking Therapeutics' weight loss drug development process is accelerating.

The research and development process is accelerating.

Previously, Viking Therapeutics stated that following positive results from a phase 2 study at the end of February, it expect to commence mid-stage trials of its weight-loss drug VK2735.

However, during Wednesday's earnings conference call, CEO Brian Lian stated that following written feedback from the FDA, the company has decided to move directly into phase 3 trials.

Lian revealed that they are preparing for a meeting with the FDA in the fourth quarter to discuss the design and timing of phase 3 trials, and plan to start studying soon after.

In response to this decision, Justin Zelin, an analyst at BTIG, stated in a report released on Wednesday that this decision could shorten Viking Therapeutics' weight loss drug development timeline by a year.

Zelin stated that the analysts currently predict that the drug will be on the market by 2029.

Lian also revealed that VK2735 will be tested as a monthly injection in future studies.

This may make it a more convenient option than Lilly's Zepbound or Novo Nordisk's Wegovy, which both require weekly use.

Data shows that in phase 2 trials, patients who received weekly injections of Viking Therapeutics' injection lost 14.7% of their weight after 13 weeks, compared with a 13.1% reduction for the placebo group.

In addition, Viking Therapeutics is also developing a oral version of VK2735, which will begin mid-stage trials in the fourth quarter. In early trials, the drug reduced weight by 3.3% compared to placebo.

Eli Lilly and Co's market cap evaporated by 120 billion US dollars.

In addition to Viking Therapeutics, there are constantly new stars in the weight-loss drug field.

Previously, Swiss pharmaceutical giant Roche also stated that following a promising experimental weight-loss drug result last week, the company plans to accelerate its weight-loss drug development.

In this context, Lilly and Novo Nordisk's dominant position is being challenged.

Lilly's stock price closed down 4.5% on Thursday, hitting its lowest level since May, with a cumulative decline of 14% in the past eight trading days, evaporating a market cap worth 120 billion US dollars. However, Lilly's increase since the beginning of the year is still 41.36%.

Novo Nordisk fell nearly 3% on Thursday, with a cumulative increase of 24.49% since the beginning of the year.

Jared Holz, an analyst at Mizuho, said: 'Our assumption is that the weight-loss drug field will not be monopolized by two giants forever. I expect that the fairly intense response brought by competitive product trials will decrease over time.'

Holz believes that the current market rotation, where traders are exiting large-cap stocks with excellent performance, is another important factor in Lilly's stock price decline.

He added that if the stock price remains at this lower level, Lilly may rebound after releasing its second-quarter report on August 8th.

He said, "If all indications show that the fundamentals are very strong, then I think the stock will recover."