There is a lot of volume flooding towards Viking Therapeutics Inc. (NASDAQ:VKTX) sending the price to highs of 180% gains on the day. Shares of VKTX closed at $10.40 per share yesterday and opened back up at $19.90 this morning. Prices rose to highs of $24 in the beginning of the day.
This solid price action is most likely in reaction to the news of positive results from a fatty liver disease treatment in their pipeline.
Viking’s mid-stage candidate is said to be favorited over their competitor in the same field, Madrigal Pharmaceuticals’ (NASDAQ:MDGL) MGL-3196. Because of reports of Viking’s candidate blowing Madrigal’s out of the water, shares of Madrigal Pharmaceuticals fell roughly 12% in the pre-market.
Viking’s mid-stage experimental non-alcoholic steatohepatitis, or NASH, medicine known as VK2809 has reported to be an extremely suitable NASH candidate.
The NASH market has major room for growth with projections of reaching $35 billion in sales through the next decade. Additionally, there are no Food and Drug Administration approved drugs for this market yet.
In addition to VK2809, Viking Therapeutics has an oral non-steroidal selective androgen receptor modulator in Phase 2 development. VK5211, is meant to treat lean body mass loss in hip surgery patients.
Viking Therapeutics was founded in September of 2012 with their headquarters in San Diego, CA. The company is involved with the development of clinical-stage biopharmaceuticals for patients suffering from endocrine and metabolic disorders.
To learn more about Viking Therapeutics and their pipeline visit their site here: https://www.vikingtherapeutics.com/
This article has been provided by a Bulls On The Street contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purposes only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Bulls On The Street. We no open positions in the aforementioned companies. Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with a licensed securities professional before purchasing or selling any securities of companies profiled or discussed on Bullsonthestreet.com. It is possible that a viewer’s entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed on this website unless you can afford to lose your entire investment. Bullsonthestreet.com makes no recommendation that the securities of the companies profiled or discussed on this website should be purchased, sold or held by viewers that learn of the profiled companies through our website.