Yesterday's fall in VKTX was literally the most idiotic and irrational thing I've ever seen in 20+ years of working in biotech.
Shares of Viking Therapeutics (VKTX) trading down on concerns stemming from Altimmune's (ALT) "underwhelming" date this morning, William Blair the analyst tells investors in a research note. The analyst emphasizes that Viking's VK2735 is a dual GLP-1/GIP agonist on track to have first-in-human data in obese individuals later this morning or in April. In contrast, Altimmune's pemvidutide is a dual GLP-1/glucagon receptor agonist with a different mechanism of action, and therefore has limited read-through to Viking. In addition, Blair says the bullish thesis on Viking remains on its non-alcoholic steatohepatitis asset, VK2809. It is a buyer of the stock on the selloff and keeps an Outperform rating on the name.