Viking Therapeutics Stock Rose 101% on May 31
On May 31, Viking Therapeutics (VKTX), a California-based biotechnology firm, closed at $9.99—a rise of ~101% from the previous day’s closing price of $4.97. The stock price nearly doubled on the news of the positive Phase-II clinical trial results from Madrigal Pharmaceuticals’ (MDGL) NASH (non-alcoholic steatohepatitis) candidate MGL-3196. The news triggered a rise of ~150% in Madrigal Pharmaceuticals’ stock price. On the same day, the SPDR S&P Biotech ETF (XBI) rose ~1.5%.