Viking Therapeutics (NASDAQ:VKTX) stock is heading higher on Thursday as the clinical-stage biopharmaceutical company prepares to start another trial for its weight loss drug.
Viking Therapeutics says that it’s ready to progress subcutaneous VK2735 into a Phase 3 clinical trial as a treatment for obesity and other metabolic disorders. This comes after the company reported positive results from a Phase 2 study in the first half of 2024.
The results from the Phase 2 trial showed much promise in meeting its primary and secondary endpoints. That includes significant weight loss for those taking VK2735 when compared to patients taking a placebo.
Viking Therapeutics is also seeing positive results from its oral VK2735 treatment. This has it preparing for a Phase 2 study of this formula after seeing strong effects in a Phase 1 trial.
VKTX Stock Jumps on Earnings
To go along with this, the company reported adjusted EPS of -20 cents in the second quarter of 2024. That’s worth highlighting as it beats out Wall Street’s estimate of -24 cents for the quarter.
All of this news has VKTX stock up 16.7% as of Thursday morning. The stock was also up 175.8% year-to-date when markets closed yesterday.
Investors will want to keep reading for more of the most recent stock market stories on Thursday!
We have all of the hottest market news traders need to know about today! A few examples include what’s happening with shares of Lineage (NASDAQ:LINE), Edwards Lifesciences (NYSE:EW) and 2U (NASDAQ:TWOU) stock this morning. You can catch up on all of this news down below!
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On the date of publication, William White did not have (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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
