After announcing that it has presented positive clinical data, Viking Therapeutics Inc (NASDAQ: VKTX) is flying in the pre-market thous morning. The data surrounds the company’s VK2809 candidate and proved to be just what investors wanted to see. Today, we’ll talk about the data, what we’re seeing from the stock as a result, and what we’ll be watching for ahead.
VKTX Announces The Presentation Of Data
As mentioned above, Viking Therapeutics is having a tremendously strong start to the trading session this morning after the company presented data. In a press release issued early this morning, the company said that it has presented Phase 2 VK2809 data. The presentation was part of the Oral Late-Breaker session of The Liver Meeting 2018, which is the annual meeting of the American Association for the Study of Liver Disease.
The data in particular came from the 12-week Phase 2 study of VK2809. VK2809 is a novel liver-selective thyroid receptor beta agonist. The treatment is being assessed as an option for patients with non-alcoholic fatty liver disease (NAFLD) as well as elevated LDL cholesterol.
VKTX reminded investors that the study did successfully achieve both its primary and secondary endpoints while demonstrating an encouraging safety and tolerability profile. Nonetheless, the data released provided further details on the trial endpoints, showing vast improvements in LDL-C, atherogenic proteins, reduction in liver fat content and other liver parameters.
The treatment also proved to be safe and well tolerated. In the trial, no serious adverse events were reported. Overall adverse events were even across all cohorts with a slightly greater incidence coming from patients in the placebo arm.
In a statement, Brian Lian, Ph.D., CEO at VKTX, had the following to offer:
We are very pleased with the safety and efficacy results demonstrated in this trial, which provide us with confidence in VK2809’s potential benefit in patients with NAFLD and NASH… The reductions in liver fat, LDL-C, triglycerides and atherogenic proteins suggest a highly differentiated therapeutic profile, which may lead to improved long-term benefits in NASH patients. In addition, the liver safety data from Weeks 12 and 16 suggest improvement in liver health extending beyond the study end, which bodes well for longer-term trials s. Based on these exciting results, we are aggressively moving forward with further clinical studies of VK2809 in NASH, which we expect to initiate in 2019.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that it’s important to keep a close eye on the news. After all, the news tends to lead to moves in the market. In the case of Viking Therapeutics, the news proved to be overwhelmingly positive. Not only is the VK2809 asset doing well through the course of clinical development, the presentation was provided in front of potential partners, high end investors, and other parties that any clinical-stage biotechnology company would want watching them. So, it may have opened the door to future opportunity. With that said, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (7:21), VKTX is trading at $13.15 per share after a gain of $1.42 per share or 12.11% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on VKTX. In particular, we’re interested in following the story surrounding the company’s continued work to bring VK2809 to market as the treatment seems to be yielding overwhelmingly promising results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!