10 Stocks Skyrocketing Today

4. Viking Therapeutics Inc. (NASDAQ:VKTX)

Viking Therapeutics jumped by 11.43 percent on Wednesday to end at $29.55 each as investor sentiment was fueled by news that it partnered with CordenPharma for the production of its weight loss treatment VK2735.

Under the terms of the agreement, VKTX and CordenPharma would manufacture and supply 100 million autoinjectors and an additional 100 million vial and syringe products for the subcutaneous formulation, as well as an annual capacity of over 1 billion oral VK2735 tablets.

“These API (active pharmaceutical ingredient) and final finished product capacities are further expandable at Viking’s option,” the company said.

In exchange, VKTX said it would make prepayments totaling $150 million, to be paid over the period from 2025 to 2028. Prepayments will be credited against future orders. VKTX said it retains ownership of all global rights to VK2735 under the agreement and expects to maintain standard pharmaceutical product margins.