Why Viking Therapeutics Stock Briefly Popped Today
Shares of the developmental-stage biotech Viking Therapeutics (NASDAQ: VKTX) jumped by as much as 11.2% in pre-market action Thursday morning. The company's shares perked up in response to an intriguing top-line readout for the experimental X-linked adrenoleukodystrophy (X-ALD) drug dubbed VK0214 in a phase 1 trial.
X-ALD is an inherited disease characterized by the gradual loss of a key structural protein (myelin) encasing the nerves in the brain and spinal cord. Previously, Viking was granted orphan drug designation by the Food and Drug Administration (FDA) for VK0214 as a treatment for this often fatal genetic disorder.
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Source Fool.com