Viking Therapeutics Reports Fourth Quarter and Year-End 2025 Financial Results and Provides Corporate Update

Core Insights - Viking Therapeutics reported strong financial results for Q4 and year-end 2025, with a cash position of $706 million and significant advancements in its obesity treatment pipeline [1][3] Financial Performance - Q4 2025 research and development expenses were $153.5 million, up from $31.0 million in Q4 2024, primarily due to increased clinical study costs [3] - General and administrative expenses decreased to $11.3 million in Q4 2025 from $15.3 million in Q4 2024 [3] - The net loss for Q4 2025 was $157.7 million, or $1.38 per share, compared to a net loss of $35.4 million, or $0.32 per share, in Q4 2024 [3] - For the full year 2025, research and development expenses totaled $345.0 million, compared to $101.6 million in 2024 [3] - The net loss for the year ended December 31, 2025, was $358.5 million, or $3.19 per share, compared to a net loss of $110.0 million, or $1.01 per share, in 2024 [3] Clinical Pipeline Updates - The Phase 3 VANQUISH trials for VK2735, a dual agonist for obesity, are ongoing, with VANQUISH-1 fully enrolled and VANQUISH-2 nearing completion [1][3] - VK2735's oral formulation is set to advance into Phase 3 trials in Q3 2026, following positive results from Phase 1 and Phase 2 studies [2][3] - A Phase 1 maintenance dosing study for VK2735 has been fully enrolled, with results expected in Q3 2026 [1][2] Upcoming Developments - The company plans to file an Investigational New Drug (IND) application for a novel amylin agonist this quarter, expanding its obesity treatment portfolio [1][3] - Viking is also developing a series of dual amylin and calcitonin receptor agonists (DACRAs) for obesity and metabolic disorders [4] Market Position and Strategy - VK2735 is positioned as a unique dual agonist with both subcutaneous and oral formulations, potentially improving treatment adherence and reducing side effects [2][3] - The company has established a comprehensive manufacturing and supply agreement for VK2735 to support its commercial activities [1][3]