Viking shares slip after manufacturing deal announced
US biopharma Viking Therapeutics (Nasdaq: VKTX) developing therapies for metabolic and endocrine disorders, closed Tuesday’s trading 5% lower.
The San Diego-based company, which is developing a promising experimental weight-loss drug, earlier announced that it has signed a broad, multi-year manufacturing agreement with CordenPharma, a contract development and manufacturing organization (CDMO).
The agreement covers both the active pharmaceutical ingredient (API) and final finished product supply for Viking’s obesity program VK2735, a novel dual agonist of the glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors.
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