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Jun 30, 2020
Viking Therapeutics Q2 2020 Earnings Report
Reported financial results for the second quarter and six months ended June 30, 2020, and provided a corporate update.
Key Takeaways
Viking Therapeutics reported a net loss of $9.6 million, or $0.13 per share, for the second quarter ended June 30, 2020. The company's cash balance remains strong, with approximately $263 million in cash, cash equivalents and short-term investments as of June 30, 2020.
Enrollment continues in Phase 2b VOYAGE study of VK2809 in NASH; new data from 12-Week Phase 2 Trial to be Highlighted at EASL.
IND Filed for VK0214 in X-ALD; Phase 1 Trial Expected to Begin Q3 2020.
Balance sheet remains strong; Quarter-End Cash Approximately $263 Million.
U.S. enrollment continuing in Phase 2b VOYAGE study of VK2809 in biopsy-confirmed non-alcoholic steatohepatitis (NASH) and fibrosis – ex-U.S. sites scheduled to open in Q3 2020.
Forward Guidance
Viking expects to initiate a Phase 1 study with VK0214 later this quarter and remains on track to open ex-U.S. sites in the coming months. The company continues to anticipate completion of enrollment in VOYAGE in the first half of next year.
Positive Outlook
- Sites continue to come back online for the Phase 2b VOYAGE clinical trial.
- Excellent progress made with VK0214 for the treatment of X-linked adrenoleukodystrophy.
- IND application filed with the FDA to initiate clinical development of VK0214.
- Plan to initiate a Phase 1 study with VK0214 later this quarter.
- Ended the quarter with $263 million in cash, providing resources to achieve multiple value-driving milestones for clinical programs.
Challenges Ahead
- Ongoing challenges due to the pandemic.
- Increased research and development expenses.
- Increased general and administrative expenses.
Historical Earnings Impact
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