Loading...
•
Dec 31, 2022
Viking Therapeutics Q4 2022 Earnings Report
Reported financial results for the fourth quarter and year ended December 31, 2022, and provided a corporate update.
Key Takeaways
Viking Therapeutics reported a net loss of $19.6 million, or $0.26 per share, for the three months ended December 31, 2022. The company ended the quarter with a strong cash position of approximately $155 million, providing an operating runway that extends beyond the key milestones for its clinical programs.
Enrollment completed in Phase 2b VOYAGE study of VK2809 for NASH and Fibrosis; data expected in 2Q 2023.
Phase 1 study of dual GLP-1/GIP agonist VK2735 continues; data expected in 1Q 2023.
Phase 1b study of VK0214 in X-ALD patients continues to enroll; data expected in 2H23.
Ended the fourth quarter with $155 million in cash, cash equivalents and short-term investments.
Viking Therapeutics
Viking Therapeutics
Forward Guidance
Viking expects to report data from all three of its active clinical programs in 2023.
Positive Outlook
- Initial data from Phase 2b VOYAGE trial of VK2809 for NASH and fibrosis expected in 2Q 2023.
- Initial data from Phase 1 study evaluating dual-agonist compound VK2735 expected later this quarter.
- Data from Phase 1b trial evaluating VK0214 in X-ALD patients expected later this year.
- Strong cash position of approximately $155 million provides an operating runway that extends beyond the key milestones for clinical programs.
- VK2809 demonstrated encouraging therapeutic potential in liver disorders, producing significant reductions in liver fat and plasma lipids in NAFLD patients with elevated lipids.
Challenges Ahead
- Clinical trials are subject to risks and uncertainties.
- Prior clinical and preclinical results may not be replicated.
- Regulatory requirements may impact the development programs.
- The company's expectations regarding its clinical and preclinical development programs and cash resources may not be accurate.
- The success, cost and timing of Viking's product candidate development activities and clinical trials are subject to risks.