Tuesday, April 09, 2019 6:22:56 AM
What happened
Shares of the clinical-stage metabolic specialist Viking Therapeutics (NASDAQ: VKTX) gained 13.3% last month, according to data from S&P Global Market Intelligence. The biotech's shares jumped in response to two interrelated catalysts:
On March 27, the company released an abstract for the International Liver Congress Annual Meeting of the European Association for the Study of the Liver showing that its experimental fatty liver disease drug, VK2809, is highly efficacious even at low doses (5 mg). This positive clinical update, in turn, prompted Leerink to more than double its 12-month price target on the stock (from $10 to $21) a few days later.
So what
Viking's shares have been a magnet for short-sellers of late, and for good reason. In brief, the biotech's stock took flight after the company reported positive mid-stage data for VK2809 in patients with nonalcoholic fatty liver disease late last year. But the market's initial reaction to these encouraging trial results may have been overdone -- perhaps wildly so.
The long and short of it is that VK2809 could end up as the third -- or maybe even the fourth -- drug to market for another form of fatty liver disease known as nonalcoholic steatohepatitis (NASH). If so, Viking's NASH candidate will have to post stellar safety and efficacy results in its next set of clinical trials in order to effectively compete in this crowded market.
Now what
Viking plans on advancing VK2809 into a second mid-stage trial specifically for NASH in the second half of 2019. Assuming this next study hits the mark, Viking might be able to get the drug into late-stage development as soon as late 2020.
So while this experimental NASH drug could haul in billions in sales one day, investors arguably shouldn't buy this stock unless they are willing to let VK2809 slowly wend its way through at least two more studies. This process, after all, could take several more years to complete.
https://finance.yahoo.com/news/why-viking-therapeutics-stock-perked-210000096.html
GO VKTX
"PEACE"
Recent VKTX News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/21/2024 01:20:57 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/20/2024 08:29:51 PM
- 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
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