Viking Therapeutics(VKTX) - 2024 Q3 - Quarterly Results

Financial Performance - Viking Therapeutics reported a net loss of $24.9 million, or$0.22 per share, for Q3 2024, compared to a net loss of $22.5 million, or$0.23 per share, in Q3 2023[19]. - For the nine months ended September 30, 2024, research and development expenses totaled $70.7 million, up from$43.3 million in the same period in 2023[20]. - The net loss for the nine months ended September 30, 2024, was $74.5 million, or$0.69 per share, compared to a net loss of $61.3 million, or$0.66 per share, in the corresponding period in 2023[21]. - Research and development expenses for Q3 2024 were $22.8 million, up from$18.4 million in Q3 2023, primarily due to increased manufacturing costs and stock-based compensation[18]. - General and administrative expenses for Q3 2024 were $13.8 million, compared to$8.9 million in Q3 2023, driven by higher stock-based compensation and legal services[18]. - As of September 30, 2024, Viking held cash, cash equivalents, and short-term investments of $930 million, significantly up from$362 million as of December 31, 2023[22]. Clinical Trials and Research - The Phase 2 VENTURE trial of VK2735 for obesity showed a maximum body weight reduction of 14.7% from baseline and 13.1% compared to placebo after 13 weeks[4]. - The Phase 2b VOYAGE trial of VK2809 in NASH/MASH demonstrated a median relative reduction in liver fat content of 38% to 55% after 12 weeks, with 85% of patients achieving at least a 30% reduction[8]. - VK2809-treated patients showed NASH/MASH resolution rates of 63% to 75% compared to 29% for placebo, and fibrosis improvement rates of 44% to 57% compared to 34% for placebo[9]. - VK0214 demonstrated significant reductions in mean plasma levels of very long-chain fatty acids and other lipids in a Phase 1b study, with mild to moderate adverse events reported[14]. - The Phase 1 trial of oral VK2735 showed dose-dependent body weight reductions of up to 5.3% from baseline, with placebo-adjusted reductions of 3.3%[6]. - Viking is developing VK2735, a dual agonist for metabolic disorders, with promising results from Phase 1 and Phase 2 trials[24]. - The company is also advancing VK2809, which successfully met primary and secondary endpoints in a Phase 2b study for non-alcoholic steatohepatitis[24]. - The dual amylin and calcitonin receptor agonist program is advancing, with preclinical data showing up to 10% weight loss in diet-induced obese mice[16]. - Upcoming scientific presentations include results from the 52-week Phase 2b VOYAGE trial of VK2809 at the 75th Liver Meeting on November 19, 2024[17]. - The company plans to initiate a Phase 2 study of oral VK2735 in obesity in Q4 2024, following positive results from a Phase 1 trial[5]. - Viking expects to hold an End-of-Phase 2 meeting with the FDA for VK2735 in Q4 2024 to discuss advancing to Phase 3[3]. - Results from the VOYAGE study will be presented at The Liver Meeting 2024, highlighting VK2809's efficacy and safety profile[12].