Viking's maintenance data, and two cheaper frontier models in one day

In a 180-patient study, VK2735 took off 16% to 19% of body weight over 21 weeks of weekly dosing, against roughly nothing on placebo. Then patients were switched to less frequent shots for 12 weeks. Every-other-week dosing kept up to 97% of the weight off, monthly dosing up to 90%, and switching to placebo kept 61%. A cohort left on weekly dosing reached about 22% at week 33 with no plateau, and stomach side effects during maintenance were no worse than placebo. Fewer shots is what makes these drugs cheaper to stay on, which is why maintenance data matters to the class as much as the headline weight loss. Viking closed up 35.67% at $40.85. Lilly rose 0.45% and Novo fell 1.01%, so the move stayed with Viking.

OpenAI released GPT-6 Sol at $2 per million input tokens and $10 per million output, down from $4 and $20 for the 5.6 version, and GPT-6 Luna at $0.10 and $0.50, from $0.20 and $1.20. It says Sol makes about half as many factual mistakes as its predecessor. Both sit below GPT-6 Astra, the flagship released earlier this month. Anthropic released Claude Opus 5.5, which it says performs at the level of Claude Fable 5.1 on most work and costs 40% less to run than Opus 5. List prices fell to $4 and $20 from $5 and $25, and output is 30% faster. Both companies are private, and nothing public moved on either announcement that can be pinned to it.

Trump told the General Assembly he expects a deal with Iran "right after the election," and that the alternative is to "annihilate" the Islamic Republic. Afterward he said Jared Kushner and Steve Witkoff had a roughly three-hour "very good meeting" with the Iranian delegation on the sidelines. WTI settled near $90.6, down 1.9%, extending yesterday's drop.

The S&P finished unchanged to two decimal places, the Nasdaq 100 up 0.82% and the Dow down 0.36%, with the VIX down 4.4% to 14.21. The 2-year fell 5bp to 4.71% and the rest of the curve didn't move. Yesterday's CPU repricing held for a second day: Arm up 3.19%, AMD up 1.34% to another record close.