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Viking reports weight loss in preclinical obesity study

EditorAhmed Abdulazez Abdulkadir
Published 25/06/2024, 03:28 am
VKTX
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SAN DIEGO - Viking Therapeutics, Inc. (NASDAQ: NASDAQ:VKTX), a biopharmaceutical company specializing in the development of treatments for metabolic and endocrine disorders, today revealed the results of preclinical trials involving novel dual agonists of the amylin and calcitonin receptors. The data, presented at the 84th Scientific Sessions of the American Diabetes Association, showed significant reductions in body weight and food intake in animal models.

The preclinical studies conducted by Viking assessed the efficacy of its dual amylin and calcitonin receptor agonists (DACRAs) in both healthy rats and diet-induced obese (DIO) mice. The compounds, when administered via a single subcutaneous dose, led to a reduction of up to 8% in body weight in lean rats within 72 hours. In a separate study, DIO mice undergoing 24 days of treatment with Viking's co-agonists experienced weight reductions comparable to those treated with the control drug cagrilintide, alongside improvements in key metabolic markers such as blood glucose levels.

Viking's DACRAs exhibited a range of potencies on human amylin and calcitonin receptors, indicating their potential as treatments for obesity. The results from these preclinical trials provide the basis for further development of Viking's dual amylin and calcitonin receptor agonist program.

Brian Lian, Ph.D., CEO of Viking, commented on the significance of the amylin receptor in metabolic control and the promising activity of the company's novel agonists. He emphasized the potential for these compounds to advance Viking's pipeline in treating obesity and metabolic diseases.

Viking Therapeutics has positioned itself as a developer of innovative therapies for metabolic disorders, with several compounds in clinical trials, including treatments for non-alcoholic steatohepatitis (NASH), non-alcoholic fatty liver disease (NAFLD), and X-linked adrenoleukodystrophy (X-ALD).

This report is based on a press release statement from Viking Therapeutics.

In other recent news, Viking Therapeutics has announced significant progress in its drug development efforts. The company reported positive 52-week histologic data from its Phase 2b VOYAGE study of VK2809 in patients with non-alcoholic steatohepatitis (NASH), indicating statistically significant reductions in liver fat content and improvements in fibrosis. Furthermore, up to 75% of patients treated with VK2809 achieved NASH resolution, a significantly higher rate than the 29% for the placebo group.

In addition to the VOYAGE study, Viking Therapeutics also reported positive results from its Phase 2 VENTURE study of VK2735, a drug aimed at treating obesity. This study also met its primary and secondary endpoints, demonstrating significant reductions in body weight. Following these developments, Truist Securities maintained a Buy rating on Viking Therapeutics, comparing the data positively with competitor Roche's drug CT-388.

The company also reported successful outcomes from a Phase 1 trial of an oral tablet formulation of VK2735 and plans to proceed with further development later this year. Additionally, Viking Therapeutics has strengthened its financial position by completing a public stock offering, raising approximately $630 million.

InvestingPro Insights

Viking Therapeutics (NASDAQ: VKTX) has been making headlines with its latest preclinical trial results, which could have significant implications for the treatment of metabolic and endocrine disorders. As investors digest this news, it's essential to consider the financial health and market performance of the company to understand the broader investment context.

An InvestingPro Tip for VKTX highlights that the company holds more cash than debt on its balance sheet, which could provide financial flexibility as it continues to develop its innovative treatments. This is a promising sign for investors looking for companies with a solid financial foundation. Additionally, VKTX has been recognized for having liquid assets that exceed its short-term obligations, further underscoring its financial stability.

However, it's important to note that VKTX is currently trading at a high Price / Book multiple of 6.23 as of the last twelve months as of Q1 2024. This could suggest that the stock is valued richly relative to its book value, which investors should take into account when evaluating the company. Moreover, VKTX has experienced a significant price uptick over the last six months, with a 177.58% return, indicating strong investor interest and market momentum. Despite this rise, the company's stock has fared poorly over the last month, with a -15.95% return.

For those looking to delve deeper into Viking Therapeutics' prospects, there are additional InvestingPro Tips available. With a total of 14 tips, including analyses on earnings revisions and profitability expectations, investors can gain a comprehensive view of VKTX's potential. Access these insights and more by visiting InvestingPro, and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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