07:18 AM EST, 11/04/2024 (MT Newswires) -- Viking Therapeutics ( VKTX ) shares rose more than 13% in premarket trading Monday as the company reported new "positive" clinical data from two studies on its product candidate for various metabolic disorders.

The company said updated data from its phase 1 multiple ascending dose clinical trial of VK2735's oral tablet formulation continued to show "positive signs of clinical activity" over the study's 28-day treatment period, including dose-dependent reductions in mean body weight.

Meanwhile, updated results from follow-up visits in the phase 2 study of the drug candidate as a subcutaneous injection also showed statistically significant and progressive reductions in mean body weight, with up to 88% of patients in the VK2735 treatment groups achieving about a 10% weight loss, the company said.

Both studies demonstrated "encouraging" safety and tolerability of the drug candidate in patients, according to the company.

Price: 83.00, Change: +10.12, Percent Change: +13.89