Viking Therapeutics(US:VKTX)2025-10-22 20:10Financial Performance - Viking reported a net loss of $90.8 million, or $0.81 per share, for Q3 2025, compared to a net loss of $24.9 million, or $0.22 per share, in Q3 2024[23] - For the nine months ended September 30, 2025, Viking reported a net loss of $202.0 million, or $1.80 per share, compared to a net loss of $74.5 million, or $0.69 per share in the same period in 2024, indicating a significant increase in net loss[26] - Total operating expenses for the nine months ended September 30, 2025, were $228.6 million, compared to $104.7 million in the same period in 2024, showing a significant rise in overall expenses[34] Research and Development - Research and development expenses increased to $90.0 million for Q3 2025, up from $22.8 million in Q3 2024, primarily due to clinical studies and manufacturing costs[21] - Research and development expenses for the nine months ended September 30, 2025, were $191.5 million, up from $70.7 million in 2024, reflecting a substantial increase in investment in R&D[34] - VK2809 successfully achieved both primary and secondary endpoints in a Phase 2b study for the treatment of biopsy-confirmed non-alcoholic steatohepatitis (NASH) and fibrosis[30] - The company is developing VK0214 for the potential treatment of X-linked adrenoleukodystrophy (X-ALD), which showed safety and significant reductions in plasma levels of very long-chain fatty acids in a Phase 1b trial[30] Clinical Trials - VK2735 demonstrated statistically significant weight loss of up to 12.2% (26.6 lbs) in the Phase 2 VENTURE-Oral Dosing study after 13 weeks[10] - Enrollment in the Phase 3 VANQUISH-1 study is expected to be completed by the end of 2025, with VANQUISH-2 to follow in Q1 2026[9] - The Phase 3 VANQUISH program includes approximately 4,500 adults with obesity and 1,100 adults with obesity and type 2 diabetes[7] - Viking is currently evaluating VK2735 in a Phase 3 obesity program, which includes two Phase 3 clinical trials (VANQUISH-1 and VANQUISH-2)[30] - The company plans to file an IND for the dual amylin and calcitonin receptor agonist program in Q1 2026[20] - Viking's Phase 1 study of the oral VK2735 formulation showed up to 8.2% weight loss after 28 days of daily dosing[10] - The company expects to report results from the ongoing maintenance dosing study in mid-2026[19] Financial Position - The company has a strong cash position of $715 million at the end of Q3 2025, providing resources for ongoing clinical trials[4] - As of September 30, 2025, Viking held cash, cash equivalents, and short-term investments of $715 million, down from $903 million as of December 31, 2024[28] - Total current assets as of September 30, 2025, were $738.7 million, down from $907.2 million as of December 31, 2024[36] - The accumulated deficit as of September 30, 2025, was $689.9 million, compared to $487.9 million as of December 31, 2024, indicating an increase in accumulated losses[36] Administrative Expenses - General and administrative expenses decreased to $8.6 million in Q3 2025 from $13.8 million in Q3 2024, mainly due to reduced legal and patent service costs[22] - Interest income for the nine months ended September 30, 2025, was $26.7 million, compared to $30.1 million in 2024, indicating a decrease in interest income[34]