Why Viking Therapeutics Stock Is Soaring Tuesday

Viking Therapeutics Inc VKTX shares are trading higher Tuesday after the company reported results from its Phase 1 trial of VK2735 for the potential treatment of various metabolic disorders.

What To Know: Viking said the Phase 1 single ascending dose and multiple ascending dose clinical trial showed promising safety and tolerability, as well as a predictable pharmacokinetic profile.

All cohorts showed up to 7.8% reductions in body weight from baseline and up to 6% reductions in body weight relative to placebo.

Based on the results, Viking Therapeutics plans to initiate a Phase 2 study in patients with obesity in mid-2023. 

"Though subjects in this study were only exposed to higher doses for a limited time, no signs of plateau were observed.  We look forward to exploring higher doses over a longer treatment window in the Phase 2 trial," said Brian Lian, CEO of Viking Therapeutics.

The company on Tuesday also announced the initiation of a Phase 1 study that will evaluate a novel oral formulation of Viking's dual glucagon-like peptide 1 and glucose-dependent insulinotropic polypeptide receptor agonist VK2735.

The primary objective is to evaluate the safety and tolerability of VK2735 given as an oral tablet once daily. The secondary objective is to evaluate the pharmacokinetics. Data from the study is expected in the second half of the year.

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VKTX Price Action: VIking Therapeutics shares were up 42.6% at $13 at time of publication, according to Benzinga Pro.

Photo: fernando zhiminaicela from Pixabay.