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Sep 30, 2022
Viking Therapeutics Q3 2022 Earnings Report
Viking Therapeutics reported financial results for Q3 2022 and provided a corporate update.
Key Takeaways
Viking Therapeutics reported a net loss of $15.8 million, or $0.21 per share, for the third quarter ended September 30, 2022. The company ended the quarter with $155 million in cash and is positioned to announce data from three clinical programs in 2023.
VK2809 Phase 2b VOYAGE study is on track to complete enrollment in Q4 2022, with data expected in 1H 2023.
Phase 1 study of dual GLP-1/GIP agonist VK2735 continues to enroll, with data expected in early 2023.
Phase 1b study of VK0214 in X-ALD is ongoing, with data expected in 1H 2023.
The company ended the third quarter with $155 million in cash.
Viking Therapeutics
Viking Therapeutics
Forward Guidance
Viking expects to announce data from three clinical trials in the coming quarters.
Positive Outlook
- VK2809 Phase 2b VOYAGE study on track to complete enrollment in Q4 2022; Data Expected in 1H 2023
- Phase 1 Study of Dual GLP-1/GIP Agonist VK2735 Continues to Enroll; Data Expected in Early 2023
- Phase 1b Study of VK0214 in X-ALD Ongoing; Data Expected in 1H 2023
- VK2809 has demonstrated encouraging therapeutic potential in liver disorders, producing significant reductions in liver fat and plasma lipids.
- VK2735 treated animals also demonstrated reductions in liver fat content that were generally larger than those observed among animals treated with a GLP-1 mono-agonist.
Challenges Ahead
- Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and adversely.
- Risks associated with the success, cost and timing of Viking's product candidate development activities and clinical trials
- Risks that prior clinical and preclinical results may not be replicated
- Risks regarding regulatory requirements
- Viking disclaims any obligation to update these forward-looking statements except as required by law.