Viking Therapeutics Just Announced More Positive Results: Time to Buy?

Are we witnessing the rise of a new biotech giant? A few weeks ago, Viking Therapeutics (NASDAQ: VKTX) grabbed headlines when it reported positive results from a phase 2 clinical trial for VK2735, a potential anti-obesity medicine. That was quite an accomplishment. Many drugmakers, including most of the largest and most prominent, are trying to challenge Eli Lilly and Novo Nordisk in the weight loss market.

So far, none has been able to produce the kind of results as Viking Therapeutics. The mid-cap biotech is still on a roll, recently reporting more positive results from its lead candidate. Below, I'll take a deeper look into that data and determine what they might mean for Viking Therapeutics' future.

Viking Therapeutics' phase 2 results that sent its share price soaring were for a subcutaneous formulation of VK2735, which is a dual GLP-1/GIP medicine. Both classes of therapies help patients promote satiety and control hunger.

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Source Fool.com