Viking Therapeutics Inc (NASDAQ: VKTX) is easily among the hottest in the market rocketing up over 900% since last summer as the biotech who recently raised $250 million and now has a war chest of over $400 million, currently has two assets, both with validated targets in multibillion markets under development. Viking expects to announce top-line data for VK2809 its ongoing phase 2B biopsy-confirmed NASH trial by midyear.  

NASH is an enormous untapped drug market estimated to be worth anywhere from $30 billion to $50 billion per year. Viking also released data last week showing recipients of its obesity treatment VK2735 lost up to 18 pounds and was safe in an early-stage study. The results “significantly exceed” results from similar drugs and if VK2735 continues to see this level of success in upcoming studies, Viking may become a real player in a potential $50 billion market for obesity treatment. We will be updating on VKTX when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Viking Therapeutics Inc (NASDAQ: VKTX) currently has 2 assets, both with validated targets in multibillion markets under development. 

Viking expects to announce top-line data for VK2809 its ongoing phase 2B biopsy-confirmed NASH trial by midyear. NASH is an enormous untapped drug market estimated to be worth anywhere from $30 billion to $50 billion per year. Recently resmetirom from Madrigal became the first drug to navigate late-stage testing in NASH, which is highly encouraging as VK2809, has a very similar mechanism of action to resmetirom.  

VK2809 is a novel, orally available, small molecule selective thyroid hormone receptor beta agonist for the treatment of lipid and metabolic disorders, which is currently being evaluated in a Phase 2b study for the treatment of biopsy-confirmed non-alcoholic steatohepatitis (NASH) and fibrosis. In a Phase 2a trial for the treatment of non-alcoholic fatty liver disease (NAFLD) and elevated LDL-C, patients who received VK2809 demonstrated statistically significant reductions in LDL-C and liver fat content compared with patients who received placebo.  

Viking also released data last week showing recipients of its obesity treatment VK2735 lost up to 18 pounds and was safe in an early-stage study. Viking tested several dosing regimens and found that at the highest dose, patients lost up to 6% more body weight than the placebo recipients. The results “significantly exceed” results from similar drugs over the same time frame, SVB Securities analyst Thomas Smith said in a report. If VK2735 continues to see this level of success in upcoming studies, Viking may become a major player in a potential $50 billion market for obesity treatment pitting the Company against heavyweights such as Eli Lilly and Co, and Amgen Inc. The Company reported it plans on trialing an orally administered version of VK2735, with top-line results expected out in the back half of 2023  

This feels like a multi-day run with $VKTX is coming. This data was way better than the most bullish expectations.

Their weight loss over baseline of 7.8% in 28 days is better than Mounjaro. Mounjaro placebo group gained 1.5 kg in their phase 1. pic.twitter.com/vW2VYQAYFk

— Chris Carper (@mtheory11bio) March 28, 2023

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$VKTX PT to 35
The most important reason
"Derisked pipeline"
These are the dream words for every biotech investor.
The rest is easy – just hold until eventual BO https://t.co/AzfvZ3uXIz

— Andre-ACGT (@Andre_AGTC) March 30, 2023

Also, VK2735 is currently being evaluated in a Phase 1 clinical trial. In the rare disease space, Viking is developing VK0214, a novel, orally available, small molecule selective thyroid hormone receptor beta agonist for the potential treatment of X-linked adrenoleukodystrophy (X-ALD). VK0214 is currently being evaluated in a Phase 1b clinical trial in patients with the adrenomyeloneuropathy (AMN) form of X-ALD. Viking holds exclusive worldwide rights to a portfolio of five therapeutic programs, including VK2809 and VK0214, which are based on small molecules licensed from Ligand Pharmaceuticals Incorporated. 

On March 29 Viking announced the pricing of its underwritten public offering of 17,242,000 shares of its common stock at a price to the public of $14.50 per share. Gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $250.0 million. In addition, Viking has granted the underwriters a 30-day option to purchase up to 2,586,300 additional shares of its common stock on the same terms and conditions. The offering is expected to close on or about April 3, 2023, subject to the satisfaction of customary closing conditions. 

$VKTX insanely strong open at $17.50 now pic.twitter.com/h1SCqjAzJF

— BULLISHWIRE (@BULLISHWIRE) April 3, 2023

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Currently trading at a $1.3 billion market valuation VKTX os is Market Cap 78,418,529 shares outstanding. As we said, VKTX is easily among the hottest in the market rocketing up over 900% since last summer as the biotech which recently raised $250 million and now has a war chest of over $400 million, currently has two assets, both with validated targets in multibillion markets under development. Viking is now a buyout candidate and is a highly attractive target for any number of suitors including Pfizer, Bristol Myers Squibb, and Gilead Sciences who have all tried to develop NASH drugs in the past with little success. We will be updating on VKTX when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in VKTX either long or short and we have not been compensated for this article.