According to the financial news agency, biotechnology company Viking Therapeutics (VKTX.US) saw a 23.90% increase in its stock price in pre-market trading on Monday. Prior to this, the company announced encouraging results of its experimental weight loss drug, with a significant weight loss effect at high doses. Meanwhile, the stock prices of Eli Lilly and Co and Novo-Nordisk A/S fell by 2.6% and 1% respectively before the market opened.

The company presented a report at the ObesityWeek conference in San Antonio on Sunday, stating that in an early study, patients taking 100mg of VK2735 lost an average of 8.2% of their weight after 28 days, compared to 6.8% weight loss in patients taking a placebo.

According to Viking's report, the highest dose of the drug did not cause patients to discontinue. In the study, a total of 92 people took different doses of the drug, with the highest dose being 100 mg. Common side effects include constipation, nausea, and vomiting, similar to other weight loss drugs.

VK2735 is a dual GLP-1/GIP receptor agonist, similar to Eli Lilly and Co's blockbuster weight-loss drug Zepbound, aimed at treating obesity and other metabolic disorders. Viking plans to start the second phase study of oral VK2735 for obesity treatment by the end of 2024. The oral version is being developed as an alternative for patients hesitant to undergo injectable treatments.

Eli Lilly and Co and Novo-Nordisk A/S, currently leading in the weight loss field, are also developing oral-based obesity therapies. Pfizer and AstraZeneca are also researching oral medications.

Eli Lilly and Co's oral medication orforglipron's Phase III clinical trial data will be announced in 2025. Based on Phase II data, the final weight loss effect of this candidate drug is similar to the active ingredient semaglutide in Novo-Nordisk's Wegovy. At the highest dose, taken daily, it can reduce weight by about 15% within 36 weeks.

Investors are bullish on Viking Therapeutics' potential to enter the weight loss drug market, with its stock price already tripled this year. It is predicted that by 2020, the weight loss drug market will reach $130 billion. Viking's drugs come in the form of easy-to-take pills, which are expected to become alternatives to the dominant injectables in the current market, causing a significant impact.