Why Viking Therapeutics Stock Rose on June 13

On June 13, Viking Therapeutics (VKTX) stock rose ~9.1%, triggered by positive mid-stage trial results for peer Galmed Pharmaceuticals’ (GLMD) NASH (non-alcoholic steatohepatitis) drug, Aramchol. For more on the development, read Why Galmed Pharmaceuticals Stock Rose 151% on June 12. Galmed’s positive study results buoyed investors’ hopes of success for Viking Therapeutics’ NASH candidate, VK2809, which is in mid-stage trials and has a similar mechanism of action. On June 13, the SPDR S&P Biotech ETF (XBI) rose ~0.26%.