Dr. Rohit Loomba, professor of medicine in the division of gastroenterology at the University of California, San Diego, presented last night full results from the positive Phase II study with Viking Therapeutics' VK2809 in hypercholesterolemia patients with nonalcoholic fatty liver disease at the annual American Association for the Study of Liver Diseases meeting, William Blair analyst Andy Hsieh tells investors in a research note. The analyst says that while the "encouraging" efficacy data were released previously, he is "incrementally more positive" on the safety profile, specifically on the reduced average liver enzyme alanine aminotransferase levels following 12 weeks of treatment. Investors had been concerned about the liver enzyme ALT elevation observed in a Phase I study, and last night's release should mitigate the perceived safety risk, Hsieh contends. He believes the elevation "appears transient and does not involve concurrent increase in bilirubin." The analyst thinks the magnitude of liver fat content reduction and the proportion of patients achieving a clinically meaningful 30% reduction are both numerically best-in-class. Hsieh reiterates an Outperform rating on Viking Therapeutics. The stock in premarket trading is up 14%, or $1.63, to $13.36.