Wednesday, November 07, 2018 10:46:26 AM
What happened
Shares of metabolic drug specialist Viking Therapeutics (NASDAQ: VKTX) lost 16.1% of their value during October, according to data from S&P Global Market Intelligence. What spooked investors last month?
The good news is that this marked decline wasn't the result of a material event. Rather, the biotech's shares simply moved lower in sympathy with the broader industry last month. The iShares Nasdaq Biotechnology Index, for instance, also dropped by double-digits in October due to the uncertainty stemming from President Trump's ongoing trade war with China.
So what
Viking's inability to defy the industry's downward trend is somewhat of a surprise. The company released strong phase 2 data for its nonalcoholic steatohepatitis (NASH) drug candidate, VK2809, only a few weeks ago. The biotech also sports another high-value drug candidate, VK5211, that's close to entering a pivotal-stage trial as a treatment for complications associated with hip fracture recovery. In short, this hefty sell-off probably wasn't warranted based on the outstanding progress of Viking's clinical pipeline to date.
Now what
Viking is set to release its third-quarter earnings report after the market closes today. During the accompanying conference call, the biotech should provide key updates for both VK2809 and VK5211. The current expectation for VK2809 is another midstage trial, where the drug will be evaluated on a NASH approvable endpoint. But the company could choose to roll the dice and advance VK2809 straight into a larger, albeit far more costly, pivotal trial. In regards to VK5211, Viking should provide some much-needed clarity on the drug's future after a fairly lengthy pause in its development.
https://finance.yahoo.com/news/why-viking-therapeutics-stock-sank-141517524.html
GO VKTX
Recent VKTX News
- Viking Therapeutics to Participate at Morgan Stanley 22nd Annual Global Healthcare Conference • PR Newswire (US) • 08/28/2024 08:03:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/22/2024 11:23:58 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/21/2024 08:30:12 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 12:13:31 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/20/2024 12:00:06 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/31/2024 08:05:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/31/2024 08:05:07 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/30/2024 09:56:42 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/30/2024 09:55:09 PM
- Earnings Updates: Ford Shares Fall 13% on EPS Miss, Stellantis Down 6%, Viking Therapeutics Up 20%, Unilever Up 5% • IH Market News • 07/25/2024 10:19:48 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/24/2024 09:00:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/24/2024 08:10:08 PM
- Viking Therapeutics Reports Second Quarter 2024 Financial Results and Provides Corporate Update • PR Newswire (US) • 07/24/2024 08:05:00 PM
- US Index Futures Fall Amid Tech Giant Earnings, Oil Prices Rise • IH Market News • 07/24/2024 09:55:54 AM
- Viking Therapeutics to Report Financial Results for Second Quarter 2024 on July 24, 2024 • PR Newswire (US) • 07/17/2024 08:05:00 PM
- 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
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