I provide a recap of the bullish thesis and recent news. Data from competitor Madrigal Pharmaceuticals has provided significant validation for its own thyroid receptor agonist VK The thesis has been strengthened, and accumulating dips is a prudent strategy.
Holding a partial position into data makes sense for readers prioritizing risk management. In ROTY, the stock along with Madrigal Pharmaceuticals did quite well as a Contender, although my error in this case was not showing enough patience.
VKTX daily advanced chart Source: VKTX minute chart Source: In the second chart minutewe can see the stock continues to trade in limbo as Wall Street awaits data. Overview In the marketplace service ROTY Runners of the Yearwe search for stocks that are attractive across multiple time frames with potential for high percentage upside within the near to medium term.
Pipeline with associated milestones Source: A major green flag was pointed out in the form of successive capital raises at progressively higher price points with participation from key institutional investors.
Preclinical data for VK already had shown statistically significant reductions in fibrosis, steatosis and the NAFLD activity scores. Lastly, I pointed out that intriguing preclinical programs in the form of VK in glycogen storage disease type Ia GSD Ia and VK in X-linked adrenoleukodystrophy X-ALD along with Data storage thesis possible partnership for either lead program provided additional reasons to establish a position.
Recent Developments In February, another secondary offering took place in which In late May, the stock experienced a large revaluation upward after Madrigal Pharmaceuticals reported impressive week results from the phase 2 study evaluating its own thyroid hormone receptor MGL in patients with biopsy-proven NASH.
Also in June, the company announced enrollment completion for the phase 2 study of VK in patients with primary hypercholesterolemia and non-alcoholic fatty liver disease NAFLD.
Patients were randomized to receive once-daily oral doses of the study drug or placebo for 12 weeks after which came a four-week off-drug phase. The primary endpoint is the change in LDL-C after 12 weeks with key secondary endpoints, including measurements of changes in liver fat content, triglycerides, and other lipid markers.
As for institutional investors of noteI consider it a green flag that Boxer Capital has a new stake of over 3 million shares and RA Capital has a new position of over 2 million shares.
Sio Capital Management, Opaleye Management and other well-known names also hold significant positions. Final Thoughts To conclude, the thesis has been strengthened by data from a competitor, extended operational runway and several value drivers in play. For readers who have done their due diligence and are interested in this story, I suggest accumulating dips while keeping in mind the risks inherent in the upcoming readout.
For those who have done well here since the first article, I suggest taking partial profits while holding remaining shares into data. Risks include disappointing results, safety signals, clinical setbacks, extended timelines, competition and the possibility of not finding a partner in the near term.
Further dilution later this year is not expected. While I publish some articles publicly on Seeking Alpha in hopes that readers find them useful and profitablekeep in mind that the situations I feel we most have an "edge" or advantage in are published solely for ROTY members.
Commentary presented is NOT individualized investment advice. Opinions offered here are NOT personalized recommendations. Readers are expected to do their own due diligence or consult an investment professional if needed prior to making trades. Strategies discussed should not be mistaken for recommendations, and past performance may not be indicative of future results.
Although I do my best to present factual research, I do not in any way guarantee the accuracy of the information I post. I reserve the right to make investment decisions on behalf of myself and affiliates regarding any security without notification except where it is required by law.
Keep in mind that any opinion or position disclosed on this platform is subject to change at any moment as the thesis evolves. Investing in common stock can result in partial or total loss of capital. In other words, readers are expected to form their own trading plan, do their own research and take responsibility for their own actions.
If they are not able or willing to do so, better to buy index funds or find a thoroughly vetted fee-only financial advisor to handle your account. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it other than from Seeking Alpha.
I have no business relationship with any company whose stock is mentioned in this article. Please be aware of the risks associated with these stocks. Follow Jonathan Faison and get email alerts Your feedback matters to us!
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