Viking Therapeutics: NASH Candidate VK2809 Shows Sustained Effect After 52 Weeks

Viking Therapeutics announced positive 52-week histology data from the Phase 2b VOYAGE study with VK2809 in June 2026. VK2809 is a novel liver-selective thyroid hormone receptor beta agonist for the treatment of biopsy-confirmed non-alcoholic steatohepatitis (NASH). The California-based biotechnology company's stock closed at $28.75 on August 18, 2026, down 1.37 percent from the previous day.

VOYAGE Study Results After One Year

Patients who received VK2809 showed statistically significant reductions in hepatic fat content from baseline to week 12 compared to placebo. At week 52, a statistically significant reduction in liver fat compared to placebo persisted. The San Diego-based company is thus developing an active substance for a disease in which fat accumulates in the liver, causing inflammation and scarring.

Secondary and exploratory endpoints of the study included histological improvements, safety data, and effects on cardiovascular risk factors. Complete results of these endpoints were presented as part of the June announcement.

Pipeline Focused on Metabolic Diseases

Viking Therapeutics focuses on developing innovative therapies for metabolic and endocrine disorders. In addition to VK2809, the company is developing VK2735, a dual GLP-1/GIP receptor agonist for obesity. VK2735 is in Phase 3 studies for both injection and oral formulation. GLP-1/GIP receptor agonists are active substances that increase satiety and promote insulin secretion – a mechanism already used in approved obesity medications.

The company is in the pre-revenue phase, meaning it does not yet generate revenue from product sales. Earnings per share were -$4.66 (as of profile data). Viking Therapeutics has been developing novel therapies since its IPO on April 29, 2015, and is listed on the Nasdaq.

Analyst Ratings and Price Targets

Analysts rate the stock predominantly positively. According to the current compilation from July 9, 2026, 1 analyst assigned a "Strong Buy," 22 analysts a "Buy," and 1 analyst a "Hold." No sell recommendations are present. The average price target is $93.60, with a median of $95. Price targets range from $83 to $101.

On August 18, 2026, the stock opened at $29.40 and reached a daily high of $29.45. The daily low was $28.75, the closing price. Trading volume was 3,421 shares. The previous closing price was $29.15. Over the 52-week period, the stock moved between $22.96 and $43.15. Market capitalization was approximately $3.8 billion.

Technical Indicators in Neutral Range

The Relative Strength Index (RSI) – a momentum indicator that shows overbought or oversold conditions – was 46.25 on August 17, 2026. An RSI below 30 is considered oversold, above 70 overbought. The current value is thus in the neutral range. In the preceding trading days, the RSI fluctuated between 35.80 (July 31, 2026) and 48.76 (August 10, 2026).

The price-to-book ratio was 6.22, meaning investors pay $6.22 for every dollar of book value. The stock's beta was 0.61, indicating below-average volatility compared to the overall market. A beta below 1 signals that the stock tends to fluctuate less than the overall market.

NASH as a Medical Need

Non-alcoholic steatohepatitis (NASH) is an advanced form of non-alcoholic fatty liver disease (NAFLD). The disease can lead to liver fibrosis, cirrhosis, and in the worst case to liver failure. Currently, there is no approved pharmacological therapy specifically for NASH, which underscores the medical need. Treatment approaches have so far focused on lifestyle interventions, weight reduction, and control of comorbidities such as diabetes.

Viking Therapeutics is pursuing an approach with VK2809 that specifically targets liver metabolism. Thyroid hormone receptor beta agonists can influence fat metabolism in the liver without triggering the systemic effects of thyroid hormones. The liver-selective effect is intended to improve the side effect profile.