Viking Therapeutics (NASDAQ:VKTX) stock is rocketing higher on Tuesday after the clinical-stage biopharmaceutical company announced positive clinical trial results.
These results come from its Phase 2 VENTURE study of VK2735. This is a dual agonist of the glucagon-like peptide and glucose-dependent insulinotropic polypeptide receptors in development as a weight loss drug.
The big news that has VKTX stockholders celebrating today is the Phase 2 trial meeting its primary endpoint. It also achieved all of its secondary endpoints while maintaining only mild or moderate treatment emergent adverse events.
Viking Therapeutics notes that this saw patients experience a 14.7% reduction in body weight compared to baseline. Those taking the drug also saw a 13% reduction in body weight compared to those on a placebo.
What’s Next for VKTX Stock?
Considering the positive results of this Phase 2 clinical trial, Viking Therapeutics is interested in further developing VK2735. That has it planning to meet with the U.S. Food and Drug Administration (FDA) to discuss the next development steps for the drug.
Brian Lian, Ph.D., CEO of Viking Therapeutics, said the following about the news:
“No evidence of a plateau was observed at Week 13 for any VK2735 dose, suggesting further weight loss might be achieved from extended dosing periods. We look forward to progressing this important therapy into further clinical development later this year.”
VKTX stock is up 96.2% as of Tuesday morning some 8.7 million shares changed hands. That’s already well above the company’s daily average trading volume of about 3.3 million shares.
Investors seeking out even more of the most recent stock market stories will want to stick around!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
