Viking Therapeutics (NASDAQ:VKTX) Inc shares skyrocketed almost 80% on Tuesday morning after the firm unveiled positive results from a trial of its VK2735 weight loss drug.
Patients receiving the treatment saw “statistically significant reductions in mean body weight” after a 13-week phase 2 trial, Viking updated on Tuesday.
Up to 88% of patients taking VK2735 demonstrated weight loss of over 10%, according to the company, against 4% of those on placebo.
This included reductions of up to 14.7% on patients’ baseline weights, with these also reporting safe levels of gastrointestinal side effects from taking the treatment.
“No evidence of a plateau was observed at week 13,” chief executive Brian Lian added, “suggesting further weight loss might be achieved from extended dosing periods”.
Viking added that it now intended to meet with the Food and Drug Administration to discuss next steps based on the findings.
Shares climbed 79.3% to US$60 in pre-market trading.