Viking Therapeutics shares pop after rival Gilead's liver drug trial falls short

Viking Therapeutics Inc (NASDAQ:VKTX) is a top gainer in pre-market trade on news that its rival Gilead Sciences (NASDAQ:GILD) reported disappointing Phase 3 trial results for its chronic liver disease drug selonsertib.

Viking, which is developing its own drug for non-alcoholic fatty liver disease, stands to benefit after Gilead’s drug selonsertib did not meet its primary endpoint and failed to improve liver scarring against a placebo in a Phase 3 trial. The Gilead study evaluated just under 900 patients with compensated cirrhosis stemming from nonalcoholic steatohepatitis (NASH).

READ: Viking Therapeutics shares pop on successful Phase 2 test for liver disease

Last November, Viking reported a successful Phase 2 result for patients suffering from non-alcoholic fatty liver disease (NAFLD) and elevated low-density lipoprotein cholesterol who were treated with its potential blockbuster drug VK2809.

The San Diego, California, company said the study achieved its primary endpoint of a significant reduction in cholesterol and a 50% reduction in liver fat content from its VK2809 treatment by the 12th week.

READ: Why Viking Therapeutics isn’t waiting for a white knight

“The fact that two-thirds of patients treated with VK2809 achieved at least a 50% reduction in liver fat content is striking, particularly in light of the relatively short duration of treatment evaluated in the trial,” said Rohit Loomba, a director of the NAFLD Research Center and a professor of medicine at the University of California at San Diego, at the time.

Viking Therapeutics is a clinical stage biopharmaceutical company developing therapies for metabolic and endocrine disorders.

Investors pushed up Viking shares by 6.66% to $8.65 before the opening bell on Tuesday.

Contact Ellen Kelleher at [email protected]

Story by ProactiveInvestors