VKTX - This High-Flying Stock Just Announced More Good News: Time to Buy?
2024-06-09 08:45:00 ET
The biotech industry features many prominent companies that command plenty of attention on the market. And since the year started, few biotechs have made more noise than Viking Therapeutics (NASDAQ: VKTX) , a mid-cap drugmaker.
Viking focuses on developing medicines for metabolic diseases. The stock has more than tripled since early January thanks to a highly promising clinical development. And on that front, it just announced more good news. Let's look into what it could mean for shareholders.
In February, Viking wowed investors when it released positive phase 2 data for VK2735, a potential anti-obesity medicine. It's not difficult to see why the market got so excited that it doubled the biotech's share price in one day.
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This High-Flying Stock Just Announced More Good News: Time to Buy?