"These results build upon the impressive anabolic responses observed in prior studies of VK5211. The significant increases in weight observed in this study, which continued through the entire 13 week treatment window, are quite promising and consistent with data from a previous human Phase 1 study, which demonstrated increases in muscle mass after only three weeks of exposure," said Brian Lian, Ph.D., chief executive officer of Viking.
"We believe such effects, if replicated in further human studies, could provide benefits in settings where patients experience abnormal losses of muscle. We recently announced the initiation of a 12 week Phase 2 trial of VK5211 in patients recovering from hip fracture, a large population known to experience prolonged disability and increased risks of re-fracture due to muscle and bone loss. Today's results provide additional reasons to be enthusiastic about the potential benefits of VK5211 on muscle growth and we are excited to continue our aggressive development plan for this important therapy."
Shares of Viking Therapeutics rallied 56% today at time of writing on substantially higher volume outpacing its normal 11,000 average daily total. The odd thing is that the quote from above was from December 7th, and someone is out buying shares before year end. Now this can be a pure speculator, a short covering investor getting out before a year end mark or an institution putting a toe in the water. I cannot conclude from this action which of these 3 it is.
For the year Viking has been chugging along testing the $2 level before the holiday down 70% for the year, even with today's action shares are likely to finish in the red for 2015. But volume and price movements like these are usually a harbinger for some news and my spider senses were alerted by these crazy Vikings !! So along to you I pass....
Viking Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on the development of therapies for metabolic and endocrine disorders. Its lead clinical program includes VK0612, an orally available drug candidate for the treatment of type 2 diabetes. The company is also developing VK5211, an orally available drug candidate, which has completed Phase I trial for the treatment of cancer cachexia, a disease characterized by an uncontrolled decline in muscle mass. In addition, it is developing VK0214, a novel liver-selective thyroid hormone receptor beta agonist for lipid disorders, such as dyslipidemia and nonalcoholic steatohepatitis, as well as other preclinical programs for metabolic diseases and anemia. The company has research collaboration with Kennedy Krieger Institute. Viking Therapeutics, Inc. was founded in 2012 and is headquartered in San Diego, California.
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