Viking Therapeutics Reports Third Quarter 2024 Financial Results and Provides Corporate Update

Core Insights - Viking Therapeutics reported positive results from multiple clinical trials, including VK2735 for obesity and VK2809 for NASH/MASH, indicating strong progress in its clinical pipeline [2][17][26] - The company holds a strong cash position of $930 million, providing financial resources to advance its clinical programs [2][24] Clinical Pipeline Updates - The End-of-Phase 2 meeting for subcutaneous VK2735 for obesity is scheduled for Q4 2024, with plans to advance into a Phase 3 program based on FDA feedback [6][3] - A Phase 2 study of oral VK2735 in obesity is expected to begin in Q4 2024, targeting patients who prefer oral medication over injections [7][8] - The Phase 2b VOYAGE study of VK2809 in NASH/MASH demonstrated significant reductions in liver fat and improvements in fibrosis, with results to be presented at The Liver Meeting 2024 [12][14][17] Financial Performance - For Q3 2024, research and development expenses increased to $22.8 million from $18.4 million in Q3 2023, primarily due to manufacturing and regulatory costs [22][23] - General and administrative expenses rose to $13.8 million in Q3 2024, compared to $8.9 million in the same period last year, driven by stock-based compensation and legal services [23] - The net loss for Q3 2024 was $24.9 million, or $0.22 per share, slightly higher than the net loss of $22.5 million, or $0.23 per share, in Q3 2023 [23][29] Upcoming Events - Viking will present results from the VENTURE Phase 2a study and the first-in-human study of oral VK2735 at ObesityWeek on November 3, 2024 [22] - The results from the VOYAGE trial will be featured in an oral late breaker presentation at The Liver Meeting on November 19, 2024 [22][17]