Viking Therapeutics plunges after oral obesity pill data misses expectations

** Shares of drug developer Viking Therapeutics VKTX.O fall 43.8% to $23.65, on track for their biggest one-day percentage drop on record

** Company says its experimental oral obesity drug, VK2735, helped patients lose 12.2% of their body weight, on average, over 13 weeks and was safe and well-tolerated during daily closing over the same period

** Twenty percent of participants receiving VK2735 discontinued treatment due to side effects, compared with 13% of those receiving a placebo

** Analysts had expected weight loss in the range of 10% to 15% on average

** BMO Capital Markets views this as an incremental positive to Eli LillyLLY.N, Novo NordiskNOVOb.CO and Structure Therapeutics GPCR.O

** U.S.-listed shares of Novo and Lilly's shares were up over 1%; however, GPCR fell 5.2% in morning trade

** The data "shows efficacy but highlights more challenging tolerability profile than many likely assumed" - BMO Capital Markets

** Including session moves, VKTX down 38.4%, LLY down 8.1%, Novo down 44.2% and GPCR down 52.3%, YTD