Viking gains on Phase II NAFLD data

Viking Therapeutics Inc. (NASDAQ:VKTX) added $9.07 (87%) to $19.46 on Tuesday after reporting that VK2809 met the primary and secondary endpoints in a Phase II trial to treat non-alcoholic fatty liver disease. The move translates to a gain in market cap of over $550 million.

The company plans to meet with FDA early next year to discuss next steps for the liver-selective thyroid hormone receptor β agonist. On a conference call, Viking said it expects FDA will also require biopsy data from an additional Phase II trial before it can move to Phase III testing...