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Sep 30, 2024
Viking Therapeutics Q3 2024 Earnings Report
Viking Therapeutics announced financial results for the third quarter ended September 30, 2024, and provided an update on its clinical pipeline and other corporate developments.
Key Takeaways
Viking Therapeutics reported a net loss of $24.9 million, or $0.22 per share, for the third quarter ended September 30, 2024. The company's cash position remained strong with $930 million in cash and equivalents. The company is advancing its clinical programs, including VK2735 and VK2809, with upcoming presentations at scientific conferences.
End-of-Phase 2 Meeting for Subcutaneous VK2735 for Obesity is planned for 4Q24.
Phase 2 Study of Oral VK2735 in Obesity is expected to begin in 4Q24.
Results of Phase 2b VOYAGE Study of VK2809 in NASH/MASH With Fibrosis were selected for Oral Presentation at AASLD.
Positive Phase 1b Results from VK0214 Study in X-ALD demonstrated Safety, Tolerability and Reductions in Very Long-Chain Fatty Acids and Plasma Lipids.
Forward Guidance
Viking Therapeutics is focused on advancing its clinical programs, including VK2735, VK2809 and VK0214, with multiple presentations planned at upcoming scientific and investor conferences.
Positive Outlook
- Advancing VK2735 into a Phase 3 program for obesity.
- Initiating a 13-week Phase 2 trial of oral VK2735 in patients with obesity in the fourth quarter.
- Data from the VOYAGE study will be presented at The Liver Meeting in November 2024.
- Continuing to evaluate the complete data set for VK0214 and consider next steps for this program.
- Filing an investigational new drug (IND) application for the amylin agonist program in 2025.
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