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Tag: NASDAQ:VKTX

  • Viking Therapeutics (VKTX) Shares Climb On Robust Quarterly Performance

    Viking Therapeutics (VKTX) Shares Climb On Robust Quarterly Performance

    Following the release of financial results, Viking Therapeutics, Inc. (NASDAQ: VKTX) shares witnessed a significant rise on the US stock charts. As observed in the after-market session on Wednesday, VKTX stock experienced a remarkable increase of 19.62%, reaching $60.30.

    Financial Performance and Clinical Pipeline Updates

    Viking Therapeutics (VKTX) revealed its financial results for the first quarter and first half of 2024, demonstrating notable progress in its clinical pipeline and commercial strategies. VKTX is getting ready for the next stages of each program after releasing encouraging findings from three distinct clinical trials.

    Notably, the Phase 2 VENTURE study of VK2735 for obesity showcased an impressive reduction in body weight by approximately 15% from baseline after 13 weeks of dosing, coupled with promising safety and tolerability.

    Viking Therapeutics is moving this compound into Phase 3 development in response to input from an FDA Type C conference. VKTX is getting ready for what is expected to be an end-of-Phase 2 meeting with the government later this year.

    Progress in Clinical Trials and Upcoming Initiatives

    Separately, following 28 days of daily oral dosage, patients in the Phase 1 trial of the oral tablet formulation of VK2735 reported an average weight reduction of up to 5.3% from baseline, indicating favorable safety, tolerability, and positive clinical activity. The process of increasing the dosage is still under progress, and later this year, Viking Therapeutics intends to launch a Phase 2 study for this program.

    Strong Financial Position for Viking and Strategic Outlook

    Viking Therapeutics concluded the quarter with a robust balance sheet of $942 million, providing the financial runway to achieve key milestones for each of its pipeline programs. During the second quarter, Viking received written responses to an FDA Type C meeting packet submitted earlier in the quarter.

    Based on the agency’s feedback, Viking Therapeutics intends to advance VK2735 into a Phase 3 program for obesity. Details regarding the Phase 3 trial design and timing will be disclosed following the end-of-Phase 2 meeting expected later this year.

  • Viking Therapeutics (VKTX) Shares Rally On Strong Phase 2 Trial Data

    Viking Therapeutics (VKTX) Shares Rally On Strong Phase 2 Trial Data

    Stock price for Viking Therapeutics, Inc. (NASDAQ: VKTX) jumped 111.23% this current session, reaching $81.28 – a promising sign. Recent favorable clinical outcomes correlate with this increase in VKTX stock price.

    Viking Therapeutics (VKTX) disclosed encouraging Phase 2 trial findings for VK2735, a medication targeting GLP-1 and GIP receptors, aiming to tackle obesity and metabolic issues. The Phase 2 VENTURE trial has effectively met its primary objective along with all secondary goals, with subjects administered VK2735 demonstrating statistically significant declines in body mass compared to those on placebo.

    Furthermore, the study indicates that VK2735 treatment is well-tolerated and safe, with most treatment-related adverse events categorized as mild or moderate. Viking intends to engage with the FDA to discuss subsequent developmental steps for VK2735 based on these findings. Patients subjected to weekly VK2735 doses exhibited statistically notable reductions in average body mass after a 13-week regimen, ranging up to 14.7% from baseline.

    These patients also displayed statistically significant declines in average body mass compared to the placebo group, reaching up to 13.1%. Significant differences relative to both baseline and placebo were evident across all dosages starting from the first week and persisting throughout the 13-week treatment period. Weight reduction exhibited a progressive trend during the study duration, with no plateau observed at the 13-week mark.

    All VK2735 dosage levels showcased statistically significant variances compared to placebo regarding the key secondary endpoint, which assessed the proportion of patients achieving at least a 10% weight reduction. Remarkably, up to 88% of patients in VK2735 treatment cohorts achieved this milestone, compared to a mere 4% for the placebo group. VK2735 demonstrated commendable safety and tolerability profiles following a 13-week regimen of once-weekly dosing.

    Discontinuation rates in the VENTURE study remained low and evenly distributed between patients treated with VK2735 and those administered placebo. In total, 23 patients (13%) discontinued treatment during the study, with 5 (14%) in the placebo cohort and 18 (13%) among VK2735-treated cohorts.