Why Viking Therapeutics Stock Is Skyrocketing Today
Shares of Viking Therapeutics (NASDAQ: VKTX) were skyrocketing 32.3% as of 11:21 a.m. ET on Thursday. The big gain came after the clinical-stage biopharmaceutical company provided its second-quarter update following the market close on Wednesday.
Viking reported no revenue and a net loss of $22.3 million, or $0.20 per share, in Q2. However, the company's financial results weren't the big story in the quarterly update. Instead, investors were excited that Viking plans to advance its experimental obesity drug VK2735 into a phase 3 clinical study after receiving written feedback from a meeting with the U.S. Food and Drug Administration (FDA).
Earlier this year, Viking announced overwhelmingly positive results from its phase 2 study of VK2735. Patients receiving the obesity drug achieved up to 13.1% placebo-adjusted mean weight loss after 13 weeks of treatment.
Source Fool.com
Viking Therapeutics Inc Stock
Viking Therapeutics Inc is currently one of the favorites of our community with 6 Buy predictions and no Sell predictions.
With a target price of 110 € there is a hugely positive potential of 85.87% for Viking Therapeutics Inc compared to the current price of 59.18 €.
