Shares of Viking Therapeutics rose after the company released early data from a study on potential its obesity drug.
The stock was up 14%, to $12.21, after hours, following a 0.4% decline at Tuesday’s close. Shares are up 14% this year.
The San Diego-based biopharmaceutical company said its Phase 1 trial of VK2735, a dual agonist of glucagon-like peptide, also known as GLP-1, and glucose-dependent insulinotropic polypeptide, reduced liver fat content and plasma lipid levels in patients.
GLP-1 agonists, such as Ozempic, are diabetes drugs now being studied for their effect on weight loss.
Viking said the results supported VK2735 as a potential treatment for non-alcoholic fatty liver disease and non-alcoholic steatohepatitis.
The company previously reported taking the treatment caused reductions in body weight.