Viking Therapeutics Shares Eye Over 1.5-Yr High as on Positive Proof-of-Concept Study of VK0214

Viking Therapeutics (VKTX) shares were higher 24% in recent pre-market trade after the company said a 25-week proof-of-concept study in an in vivo model of X-linked adrenoleukodystrophy showed VK0214 led to statistically significant reductions in plasma levels of multiple very long chain fatty acids in treated animals compared with vehicle controls.

VKTX was at $2.15 recently, the highest level since January 2016 if it holds into regular trading. The stock currently trades between $0.88 and $2.01.

The study also demonstrated statistically significant reductions in very long chain fatty acids levels within key tissues, including liver, brain and spinal cord, the company said.

VK0214 has been granted orphan drug status by the U.S. Food and Drug Administration for the treatment of X-linked adrenoleukodystrophy, a metabolic disorder characterized by a breakdown in the protective barriers surrounding brain and nerve cells.

By Melissa Petros