Approval of Madrigal’s Rezdiffra positive for Viking and MASH space, says Stifel

Stifel notes yesterday’s FDA approval of Madrigal Pharmaceuticals’ (MDGL) Rezdiffra, formerly resmetirom, as the first-ever treatment and oral THR-beta agonist approved uniquely for metabolic-associated steatohepatitis, or MASH, calling it “a clear positive signal for the entire MASH development landscape.” The approval is “especially positive” for Viking Therapeutics (VKTX), which will be potentially the next-gen “best-in-class” follower in the THR-beta agonist class, added the analyst, who sees this approval as “the start of an important and largely unserved therapeutic category.” Stifel keeps a Buy rating and $80 price target on Viking shares.