Viking Therapeutics (NASDAQ:VKTX) stock is up on Tuesday as the company posts positive results from a study of its weight-loss drug.
These results come from its Phase 1 study of VK2735. This is a dual agonist of the “glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors.”
The results of the trial were positive, with reductions in mean body weight from baseline over 28 days. The treatment also performed well when compared to placebo.
Viking Therapeutics CEO Brian Lian said this about the study results:
“We believe these data indicate that longer treatment duration, at potentially higher doses, may result in additional weight loss. We are particularly pleased with the initial safety and tolerability data, which suggest a differentiated profile with minimal gastrointestinal-related side effects.”
What’s Next for VKTX Stock?
Considering the positive results from this clinical trial, Viking Therapeutics is planning for a Phase 2 trial of VK2735. This will have it test longer treatment periods and higher doses of the drug.
All of this news has traders excited with heavy trading of VKTX stock today. That has more than 11.8 million shares on the move. For comparison, the company’s daily average trading volume is below that at 6.1 million shares.
VKTX stock is up 23.9% as of Tuesday morning.
Investors looking for more of the most recent stock market stories are in luck!
We have all of the hottest stock market news worth reading about on Tuesday! Among that is what has shares of Tesla (NASDAQ:TSLA), Dell (NYSE:DELL) and DouYu International (NASDAQ:DOYU) moving today. All of that is ready to go at the links below!
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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.
