Viking Therapeutics stock ($VKTX) pops 20% on oral weight-loss drug trial data

Viking Therapeutics Inc (NASDAQ: VKTX) is up nearly 20% on Tuesday after reporting encouraging early-stage data for its experimental weight-loss oral drug.

Is Viking Therapeutics’ oral weight-loss drug effective?

The biotechnology company said its candidate treatment was shown to be effective in reducing weight in a Phase 1 trial.

$VKTX is now scheduled to launch a Phase 2 study before the end of this year since its aforementioned tablet remained safe for use in the early-stage trial. Brian Lian – the chief executive of Viking Therapeutics said in a press release today:

Viking Therapeutics stock is now up a whopping 350% versus the start of this year.

$VKTX has an injectable weight-loss drug as well

The oral tablet helped participants of its study lower their respective weights by some 3.3% (placebo adjusted) in 28 days, as per Viking Therapeutics Inc. According to CEO Lian:

Note that $VKTX last month reported data for a Phase 2 trial of its experimental injectable weight-loss drug. VK2735 was shown to help lower weight by 15% at the time.

In February, the Nasdaq-listed firm reported $24.6 million loss or 25 cents per share for its fiscal Q4. Wall Street currently has a consensus “buy” rating on Viking Therapeutics stock that ended its recent quarter with $362 million in cash.