Shares of Viking Therapeutics (VKTX) are soaring after the company announced plans to advance its experimental weight-loss injection — named VK2735 — to a later-stage trial than previously expected.

Yahoo Finance senior health reporter Anjalee Khemlani breaks down the news and how it could pose competition to Eli Lilly (LLY) and Novo Nordisk's (NVO) GLP-1 weight-loss drugs. In its latest earnings results, Viking shared a narrower-than-expected quarterly profit decline.

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This post was written by Melanie Riehl