Why Viking Therapeutics Stock Is Moving Alongside Madrigal Pharmaceuticals Shares Today

Viking Therapeutics Inc VKTX shares are trading higher Monday, in sympathy with Madrigal Pharmaceuticals Inc MDGL, which announced a successful trial of resmetirom for nonalcoholic steatohepatitis (NASH) and liver fibrosis. 

What Happened: Madrigal highlighted positive topline results from the pivotal Phase 3 MAESTRO-NASH biopsy clinical trial of resmetirom. Madrigal said MAESTRO-NASH achieved both liver histological improvement endpoints that the FDA proposed as reasonably likely to predict clinical benefit.

Madrigal intends to file a new drug application seeking accelerated approval of resmetirom for the treatment of non-cirrhotic NASH with liver fibrosis.

Viking Therapeutics could be viewed as a potential buyout candidate following the strong Phase III trial results from Madrigal. Viking’s VK2809 belongs to the same family of medications as resmetirom.

See Also: Madrigal Shares Skyrocket After Successful NASH Study

VKTX Price Action: Viking Therapeutics is making new 52-week highs on Monday.

The stock was up 46.2% at $5.88 at time of publication, according to Benzinga Pro.

Photo: Konstantin Kolosov from Pixabay.