Today’s Research Reports on Stocks to Watch: Madrigal Pharmaceuticals and Viking Therapeutics

NEW YORK, NY / ACCESSWIRE / June 1, 2018 / It was a day of gains for biotech stocks Madrigal Pharmaceuticals and Viking Therapeutics. Madrigal Pharmaceuticals released results of its phase II clinical trial to reduce NASH. Viking was riding on the success of Madrigal Pharmaceutical’s positive trial results of NASH as Viking is expected to finish its own mid-stage NASH study next month.

RDI Initiates Coverage on:

Madrigal Pharmaceuticals, Inc.
https://www.rdinvesting.com/report/?ticker=MDGL

Viking Therapeutics, Inc.
https://www.rdinvesting.com/report/?ticker=VKTX

Madrigal Pharmaceuticals, Inc. shares closed up almost 145% on Thursday with a little over 5 million shares traded. The pharmaceutical company soared to a new high of $273.19 yesterday after announcing successful phase II results. Shares even gained as high as over 150% yesterday after the company announced that it had successfully completed its Phase II clinical trial to reduce nonalcoholic steatohepatitis (NASH). NASH, also known as fatty liver disease, is a disorder related to obesity. The company’s drug, called MGL-3196, is also in Phase II trials for another disease known as heterozygous familial hypercholesterolemia (HeFH). CEO Paul Friedman M.d. remarked, “We believe there is potential to resolve NASH in as little as 9 months in 30-40% of patients receiving only MGL-3196, a well-tolerated once a day oral therapy.” Bloomberg’s Cristin Flanagan said, “while Intercept is in the lead among NASH peers as its Ocaliva is already in late-stage testing, safety concerns have tamped down shares as investors await those results — they aren’t expected until next year. Madrigal’s drug has so far not raised any red flags on safety.”

Access RDI’s Madrigal Pharmaceuticals, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=MDGL

Viking Therapeutics, Inc. shares were flying on Thursday, closing the day up with a gain of slightly over 100%. Shares also hit a new high of $10.25 on skyrocket volume of nearly 57 million shares traded. The company was riding on the success of Madrigal Pharmaceutical’s positive trial results for its nonalcoholic steatohepatitis (NASH) candidate MGL-3196. Viking’s experimental mid-stage NASH drug, VK2809, reportedly has a similar mechanism of action as MGL-3196. NASH and the drugs to treat it is expected to become a huge market so traders were enthusiastic about another company in the arena reporting positive results. Viking’s mid-stage NASH study set to finish in June, according to ClinicalTrials.gov. In the next few weeks the company should be releasing top-line data. Earlier this month the company announced financial results for the first quarter of 2018, revealing a net loss of $3.6 million, or $0.08 per share. This is compared to a net loss of $5.2 million, or $0.23 per share, in the first quarter of 2017.

Access RDI’s Viking Therapeutics, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=VKTX

Our Actionable Research on Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) and Viking Therapeutics, Inc. (NASDAQ: VKTX) can be downloaded free of charge at Research Driven Investing.

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