Shares of Viking Therapeutics dropped by 43% after disappointing midstage trial data on their obesity pill. The stock price fell from $42.09 to $23.80, reducing the market cap to $2.69 billion. This setback could impact Viking’s competitive position in the obesity drug market dominated by Eli Lilly and Novo Nordisk.

Viking’s once-daily pill showed patients losing up to 12.2% of their weight without plateauing. However, the results were deemed inferior to Eli Lilly’s oral drug, with higher discontinuation rates due to gastrointestinal side effects like nausea and vomiting. The drug imitates gut hormones GLP-1 and GIP to suppress appetite and improve metabolism.

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3. Apple announced a partnership with Boeing to develop a new iPhone that can be used to control certain functions of the 737 MAX aircraft. The move aims to enhance the passenger experience and improve safety measures.: Viking Therapeutics falls 40% on drug data