Still a clinical-stage company, Viking is studying promising candidates for both obesity and MASH in Phase II, but may need to prioritize one while partnering the other.

An oral formulation of the GLP-1/GIP analog VK2735 showed up to 5.3% reduction in body weight after four weeks in a Phase I study, with a nearly pristine safety and tolerability profile.

A look at the depth of clinical responses seen with various MASH therapies suggests that Madrigal could eventually face serious competition.

As the first approved MASH (formerly NASH) therapy, nearly four years after initially anticipated, Madrigal gets the opportunity to establish a MASH marketplace with Rezdiffra (resmetirom).