Viking Therapeutics (NASDAQ:VKTX) shares had added more than 55% on Tuesday after the biopharmaceutical company published positive early-stage data for its drug candidate targeting obesity VK2735.
The company said in the multiple ascending doses (MAD) portion of the study, it observed up to 6% placebo-adjusted mean weight loss, 7.8% from baseline, after 28 days.
Statistically significant differences compared to placebo were maintained or improved at the day 43 follow-up time point, 21 days after the last dose of VK2735 was administered, the company said.
"These Phase 1 data highlight VK2735's attractive early profile, with encouraging safety, tolerability, and positive effects on body weight," said Viking CEO Dr Brian Lian.
"The initial data suggest excellent clinical characteristics, with good tolerability and up to approximately 18 pounds of mean weight loss from baseline. Though subjects in this study were only exposed to higher doses for a limited time, no signs of plateau were observed.”
Based on the results, the company said it plans to initiate a Phase 2 study of VK2735 in patients with obesity in mid-2023.
“We look forward to exploring higher doses over a longer treatment window in the Phase 2 trial,” Lian commented.
Viking was trading up 55.9%% at US$14.22 on Tuesday morning.
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