Viking Therapeutics’ stock rallies after Madrigal shares positive data about its liver drug

Shares of Viking Therapeutics Inc.
VKTX,
+4.42%
jumped 55% in premarket trading on Monday after a company that is also developing a selective thyroid hormone receptor beta agonist as a treatment for non-alcoholic steatohepatitis (NASH) and fibrosis announced positive, late-stage data. Madrigal Pharmaceuticals Inc.
MDGL,
+1.43%
said Monday it is aiming to get an accelerated approval in the U.S. for its drug. Viking’s treatment candidate is currently in a Phase 2b clinical trial. The company’s stock is down 24.7% so far this year, while the broader S&P 500
SPX,
-1.11%
has declined 19.1%.