Viking Holdings Ltd Options Under Lock-Up Agreement Until July 27, 2025

Certain options of Viking Holdings Ltd are subject to a lock-up agreement ending on July 27, 2025. The agreement restricts directors, executive officers, and shareholders holding 5% or more of the company's shares from selling or disposing of their shares for 60 days following the prospectus supplement date. The lock-up period starts on May 27, 2025.

Viking Therapeutics (VKTX) reported its financial results for the second quarter and six months ended June 30, 2025, during a recent earnings call. The company highlighted significant advancements in its development programs and operations.

Financial Highlights

- Research and Development Expenses: Q2 2025 R&D expenses were $60.2 million, up from $23.8 million in the prior year period. This increase was driven by higher clinical, manufacturing, stock-based compensation, and personnel costs [1].
- General and Administrative Expenses: GAAP general and administrative expenses were $14.4 million in Q2 2025, up from $10.3 million in the prior-year quarter, primarily due to increased stock-based compensation and salaries, partially offset by decreased legal and patent expenses [1].
- Net Loss: The company reported a net loss of $65.6 million, or $0.58 per share, for Q2 2025, compared to $22.3 million or $0.20 per share in the prior year period, attributed to greater research and operating costs [1].
- Cash Position: As of June 30, 2025, Viking held $808 million in cash, cash equivalents, and short-term investments, down from $903 million at December 31, 2024 [1].

Development Milestones

- Vanquish Phase 3 Program Initiation: Viking initiated its pivotal Phase 3 Vanquish program for VK2735, targeting obesity and type 2 diabetes. The program consists of two double-blind, placebo-controlled trials with enrollment targets of approximately 4,500 adults for obesity and 1,100 adults for type 2 diabetes [1].
- VENTURE Phase 2 Study Results: VK2735 subcutaneous met primary and secondary endpoints, achieving up to 14.7% weight loss from baseline over 13 weeks in the Phase 2 VENTURE study. More than 90% of weight loss was maintained seven weeks post-treatment, even at the lowest 2.5 mg weekly dose [1].
- Amyloid Receptor Agonist Program: In vivo studies showed promising body weight and metabolic effects, with an IND filing targeted for Q4 2025 [1].
- Manufacturing Readiness: Viking secured a comprehensive agreement for VK2735 API supply and fill/finish capacity to support future commercialization [1].

Lock-Up Agreement

Certain options of Viking Holdings Ltd are subject to a lock-up agreement ending on July 27, 2025. The agreement restricts directors, executive officers, and shareholders holding 5% or more of the company's shares from selling or disposing of their shares for 60 days following the prospectus supplement date. The lock-up period starts on May 27, 2025 [2].

Future Outlook

Viking expects to explore monthly maintenance dosing and a weekly oral dosing regimen for VK2735 in upcoming studies. Greg Zante forecast R&D expense growth of 25% to 33% for Q3 and Q4 2025, reflecting ongoing clinical activity [1].

References

[1] https://www.fool.com/earnings/call-transcripts/2025/07/23/viking-vktx-q2-2025-earnings-call-transcript/
[2] Source Material