11:03 AM EDT, 03/26/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline, first paragraph.)

Viking Therapeutics' ( VKTX ) shares jumped more than 25% in recent Tuesday trading after the company reported "positive results" for its potential anti-obesity drug VK2735.

A 28-day phase 1 clinical trial of a pill form of the drug showed up to 5.3% mean body weight loss compared with a placebo, the company said.

Based on the weight loss recorded, as well as the safety and tolerability result, the company said it has decided to continue the study with higher doses.

A phase 2 trial of the drug is planned for the second half of the year, the company said.

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