Key Details to Consider Before Investing in Viking Therapeutics
Viking Therapeutics Stock Insights
This high-flying biotech stock has captured investors' attention for all the right reasons. What's the hottest biotech stock on the market right now? If we limit the list only to those with market caps of at least $500 million, it's Viking Therapeutics (NASDAQ: VKTX). So far in 2024, Viking's shares have skyrocketed over 270% (and were up even higher at points).
1. Potential Blockbuster Obesity Drug
Viking's impressive year-to-date stock performance is due to excitement about the prospects of its experimental drug VK2735. Patients receiving VK2735 experienced up to 13.1% placebo-adjusted mean weight loss after 13 weeks of treatment. If approved, VK2735 would almost certainly become a blockbuster.
2. Pipeline with Huge Winners
Viking is evaluating VK2809 in a phase 2b study for treating NASH. NASH presents a huge potential market and only one therapy has been approved in the U.S. for treating it.
3. Under-the-Radar Program
Viking's VK0214 has largely flown under the radar targeting the rare genetic disorder X-ALD.
4. Healthy Cash Position
Viking ended 2023 with a cash position totaling $362 million, ensuring that cash shouldn't be an issue for a while.
5. Strong Acquisition Potential
Despite no guarantee, Viking should be a top acquisition target in the near future.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.