Why Viking Therapeutics Stock Soared by Nearly 21% on Thursday

Core Insights - Viking Therapeutics experienced a significant stock price increase of over 21% following its latest earnings release, outperforming the S&P 500 index which rose by only 0.2% [1] Financial Performance - In the third quarter, Viking reported a net loss of just over $21 million ($0.22 per share), a slight improvement from more than $22 million in the same period of 2023, beating analyst expectations of a $0.24 per share loss [2] - The company ended the quarter with $930 million in cash, equivalents, and short-term investments, a substantial increase from $362 million at the end of 2023, providing a strong financial position for ongoing operations [2] - Viking's operating expenses for the third quarter were slightly over $36.5 million, indicating a long runway for continued development [2] Product Development - Viking's VK2735 GLP-1 weight-loss drug has shown promising results in phase 1 and phase 2 trials, positioning the company favorably for potential FDA approval if it succeeds in phase 3 trials [3] - The successful approval of VK2735 would place Viking among a select group of approved drugs in a rapidly growing market, enhancing its attractiveness as an investment opportunity [3]