Shares of Viking Therapeutics (VKTX) are jumping after Madrigal Pharmaceuticals (MGDL) announced that its Phase 2 clinical trial in patients with biopsy-proven non-alcoholic steatohepatitis demonstrated statistically significant results for the primary endpoint. Madrigal’s MGL-3196 is a first-in-class, oral, once-daily, liver-directed, thyroid hormone receptor. Viking has initiated Phase 2 clinical development of its VK 2809, an agonist of the thyroid beta, in hypercholesterolemia and fatty liver disease. The company last night announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. Bloomberg, citing a person familiar with the process, reported this morning that Viking’s offering is expected to price post today’s market close.. Viking shares are up 31%, or 84c, to $3.58 in premarket trading following Madrigal’s trial success. Madrigal shares are up 51%, or $23.70, to $70.00.