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Viking Shares Jump After Fatty Liver Drug Meets Midstage Trial Endpoints

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Viking Shares Jump After Fatty Liver Drug Meets Midstage Trial Endpoints

Viking Therapeutics Inc (NASDAQ: VKTX) shares have raced away Tuesday following the release of positive top-line results from a midstage trial.

The shares were skyrocketing 98.12 percent to $20.60 on roughly 18 times their average volume at the time of publication Tuesday. 

What Happened

Viking announced Tuesday ahead of the market open that a Phase 2 study that evaluated its VK2809 to treat patients with non-alcoholic fatty liver disease, or NAFLD, and elevated low-density lipoprotein cholesterol, or LDL-C, achieved its primary endpoint of statistically significant reductions in LDL-C compared with placebo.

The secondary endpoint  — statistically significant reductions in liver fat content relative to placebo — was also met, the company said.

Why It's Important

"VK2809's effect on liver fat at 12 weeks appears to exceed all other oral agents currently in development for NASH, supporting our view that VK2809 has a best-in-class profile," Viking CEO Brian Lian said in a statement. 

Viking also expects a longer-term histologic benefit as well as potential cardiovascular health benefits.

What's Next

Viking said it has submitted an abstract describing the results to be considered for presentation at The Liver Meeting 2018, the annual meeting of the American Association for the Study of Liver Diseases, that's scheduled for Nov. 9-13 in San Francisco.

The company said it plans to pursue further development of VK2809 in NASH.

Related Links:

The Week Ahead In Biotech (Sept. 16-22): Conferences, PDUFA Dates, Clinical Trial Results And IPOs

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