Viking Therapeutics Advances Promising Treatments in Metabolic and Liver Diseases

2024-04-26

Viking Therapeutics recently hosted its First Quarter 2024 Financial Results Conference Call, which featured key figures such as Brian Lian, the President and CEO of Viking, and Greg Zante, the company's CFO. The call commenced with Stephanie Diaz, Viking's Manager of Investor Relations, issuing a cautionary statement regarding forward-looking statements in accordance with the U.S. Private Securities Litigation Reform Act of 1995.

During the call, Viking unveiled positive outcomes from its Phase II VENTURE study assessing VK2735 in patients with obesity, showcasing significant reductions in body weight. Furthermore, encouraging results emerged from a Phase I trial of an oral tablet formulation of VK2735. The company successfully wrapped up the Phase IIb VOYAGE study investigating VK2809 for NASH and fibrosis, with expectations for biopsy results to be disclosed later in the quarter.

From a financial perspective, Viking disclosed a net loss of $27.4 million for the first quarter of 2024, primarily stemming from escalated research and development expenses. As the quarter concluded, the company's cash, cash equivalents, and short-term investments amounted to $963 million.

Looking forward, Viking outlined plans to initiate a Phase II trial for obesity, advance the development of VK2809 for NASH and fibrosis, and continue the Phase Ib study of VK0214 for X-ALD. Additionally, the company expressed intentions to fortify its balance sheet through strategic partnerships and explore further trials for its pipeline programs.

In summary, Viking Therapeutics' recent financial results and progress in its pipeline underscore its dedication to pioneering innovative treatments for metabolic and liver diseases. With promising study results and a clear strategic roadmap for the future, Viking is making significant strides in the competitive landscape of the biopharmaceutical sector.