These 10 Firms Were Last Week’s Worst Performers

3. Viking Therapeutics Inc. (NASDAQ:VKTX)

Despite booking a 0.28-percent gain in Friday’s trading, Viking Therapeutics Inc.’s (NASDAQ:VKTX) week-on-week share price markedly fell by 15.08 percent as investor sentiment was dampened by news of the US government’s potential price negotiations with drugmakers over what they deemed were overpriced drugs.

Last week, the US government still under the Biden administration added 15 prescription drugs to the list of medications that Medicare will negotiate prices on. Albeit no drug manufactured by Viking Therapeutics (NASDAQ:VKTX) has been named on the list, overall cautious sentiment about drug pricing regulations created a ripple effect across the sector over fears that price negotiations could impact future revenues, especially for high-cost therapies.

Viking Therapeutics (NASDAQ:VKTX) is a clinical-stage biopharmaceutical company focused on the development of novel first-in-class or best-in-class therapies for the treatment of metabolic and endocrine disorders, with three compounds currently in clinical trials.