12.61 +0.15 (1.20%)
After hours: 5:50PM EDT
|Bid||12.50 x 1100|
|Ask||12.64 x 1200|
|Day's range||12.18 - 13.43|
|52-week range||0.88 - 13.43|
|PE ratio (TTM)||N/A|
|Earnings date||7 Aug 2018 - 13 Aug 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||14.25|
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%.
Madrigal Pharmaceuticals, the biotech company based in West Conshohocken, Pennsylvania, saw its share price rise more than 150% today after announcing a successful completion of its Phase II clinical trial to reduce nonalcoholic steatohepatitis (NASH). NASH, also known as fatty liver disease, is a disorder related to obesity and is steadily gaining prevalence throughout the developing world.
Madrigal's strong mid-stage NASH results sent Viking Therapeutics' shares soaring and Intercept Pharmaceutical's stock swooning today. Here's why.