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Tuesday, September 04, 2018 1:12:10 PM
[Motley Fool]
George Budwell, The Motley Fool
Motley FoolSeptember 4, 2018
What happened
Shares of the clinical-stage biotech Viking Therapeutics (NASDAQ: VKTX) gained a whopping 27% last month, according to data from S&P Global Market Intelligence. What sparked this breakout?
Oddly enough, Viking's shares raced higher in August without a clear-cut catalyst. The biotech's stock appears to be simply heating up ahead of the company's forthcoming presentation at the American Society for Bone and Mineral Research meeting later this month -- where Viking is expected to update investors on the status of its mid-stage hip fracture drug candidate VK5211.
So what
This double-digit move higher last month does have a solid fundamental underpinning, however. Viking shares could turn out to be deeply undervalued at current levels. After all, the company is developing a nonalcoholic steatohepatitis drug, VK2809, that has the potential to generate billions of dollars in sales. And Viking's VK5211 is no slouch either, with this experimental drug also staring down a billion dollar-plus market opportunity in the lucrative hip fracture setting.
Now what
Whether Viking's stock can maintain its monstrous momentum without a newsworthy event remains to be seen. But the company does have two major near-term catalysts that could trigger another breakout before year's end.
First, Viking is reportedly in negotiations with various partners to advance VK5211 into a late-stage trial. Any licensing deal for this high-value compound should come with a healthy upfront cash payment.
Second, Viking is on track to release VK2809's mid-stage results by November. If positive, the biotech's shares should bolt higher. This key experimental drug, after all, would be one step closer to reaching a market that's forecast to grow to a staggering $35 billion within the coming decade.
The headline here is that Viking's stock might be gearing up for a prolonged period of growth -- that is, if everything falls into place for its top clinical candidates. Therefore, risk-tolerant investors might want to consider adding this promising name to their portfolios soon.
https://finance.yahoo.com/news/why-viking-therapeutics-stock-gained-100000395.html
GO VKTX
"PEACE"
Recent VKTX News
- Viking Therapeutics Presents Preclinical Data on Novel Dual Amylin and Calcitonin Receptor Agonists at 84th Scientific Sessions of the American Diabetes Association • PR Newswire (US) • 06/24/2024 11:33:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/04/2024 11:10:11 AM
- Viking Therapeutics Announces Positive 52-Week Histologic Data from Phase 2b VOYAGE Study of VK2809 in Patients with Biopsy-Confirmed Non-Alcoholic Steatohepatitis (NASH) • PR Newswire (US) • 06/04/2024 11:05:00 AM
- Viking Therapeutics to Participate at Upcoming Investor Conferences • PR Newswire (US) • 05/30/2024 08:03:00 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 05/22/2024 09:12:36 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 05/22/2024 08:33:26 PM
- Viking Therapeutics Reports First Quarter 2024 Financial Results and Provides Corporate Update • PR Newswire (US) • 04/24/2024 08:05:00 PM
- U.S. Futures Display Mixed Results Amid Earnings, WTI and Brent Crude Prices Dip in June Futures Trading • IH Market News • 04/24/2024 11:31:20 AM
- Viking Therapeutics to Report Financial Results for First Quarter 2024 on April 24, 2024 • PR Newswire (US) • 04/17/2024 08:05:00 PM
- Viking Therapeutics Announces Results from Phase 1 Clinical Trial of Oral Tablet Formulation of Dual GLP-1/GIP Receptor Agonist VK2735 • PR Newswire (US) • 03/26/2024 11:03:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 12:54:02 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 12:52:22 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/04/2024 09:52:52 PM
- Viking Therapeutics Announces Closing of Public Offering of Common Stock Including Full Exercise of Underwriters' Option to Purchase Additional Shares • PR Newswire (US) • 03/04/2024 09:45:00 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 03/01/2024 09:13:40 PM
- Viking Therapeutics Announces Pricing of $550 Million Public Offering of Common Stock • PR Newswire (US) • 02/29/2024 01:50:00 AM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 02/27/2024 10:21:23 PM
- Viking Therapeutics Announces Proposed Public Offering of Common Stock • PR Newswire (US) • 02/27/2024 09:19:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/27/2024 12:04:52 PM
- Viking Therapeutics Announces Positive Top-Line Results from Phase 2 VENTURE Trial of Dual GLP-1/GIP Receptor Agonist VK2735 in Patients with Obesity • PR Newswire (US) • 02/27/2024 12:03:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/10/2024 01:59:57 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/09/2024 09:01:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/09/2024 12:40:13 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/09/2024 12:38:45 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/08/2024 09:56:27 PM
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