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Jun 30
Viking Therapeutics Q2 2025 Earnings Report
Viking Therapeutics Q2 2025 Earnings Report highlighted increased R&D spending to advance obesity programs, resulting in a wider net loss.
Key Takeaways
Viking Therapeutics reported no revenue for Q2 2025, with a net loss of $65.6 million as R&D and administrative expenses rose sharply to support ongoing clinical trials. The company ended the quarter with $808 million in cash and investments, providing funding for key pipeline programs.
Research and development expenses increased to $60.2 million, driven by VK2735 clinical studies.
General and administrative expenses rose to $14.4 million due to higher stock-based compensation and salaries.
Net loss widened to $65.6 million, or $0.58 per share.
Cash, cash equivalents, and short-term investments totaled $808 million, supporting Phase 3 obesity trials.
Viking Therapeutics
Viking Therapeutics
Forward Guidance
Viking expects to advance its obesity and metabolic programs with existing cash resources, anticipating key clinical milestones in 2H25.
Positive Outlook
- Phase 3 VANQUISH trials for VK2735 underway in obesity and type 2 diabetes
- VENTURE-Oral Phase 2 top-line results expected in 2H25
- Amylin agonist IND filing planned for 4Q25
- Strong cash position provides funding runway
- Growing demand for differentiated weight-loss therapies
Challenges Ahead
- No commercial revenue generation yet
- Rising R&D costs to support clinical programs
- G&A expenses increasing due to stock-based compensation
- Clinical and regulatory risks remain high for obesity programs
- Potential for slower trial enrollment due to competitive landscape