Viking Therapeutics (VKTX) Q2 Earnings call transcript Jul 24, 2024
Viking Therapeutics (Viking), a clinical-stage biotechnology company, recently held an earnings call to discuss its second-quarter financial results and provide updates on its clinical programs. The call was marked by optimism and confidence, reflecting the company's significant achievements in advancing its pipeline of potential treatments for obesity and non-alcoholic steatohepatitis (NASH).
Financial Highlights and Strategic Positioning
Viking reported a net loss of $49.6 million for the six months ended June 30, 2024, a significant increase from the same period in 2023. This increase was primarily attributed to increased research and development expenses and general and administrative expenses. Despite the financial challenges, Viking remains well-positioned for future growth, with a strong balance sheet of over $900 million, providing ample resources for its pipeline programs.
VK2735 for Obesity: A Potential Game Changer
The call highlighted Viking's lead obesity program, VK2735, a dual agonist of the glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors. VK2735 has shown impressive results in early studies, demonstrating up to 15% reduction in body weight from baseline following 13 weeks of dosing by weekly subcutaneous injection. The company is planning for an end of Phase II meeting with the FDA to discuss the registration path for VK2735 in obesity and expects to initiate Phase III development upon completion of that dialogue. Viking also announced plans to initiate a 13-week Phase II trial for the oral tablet formulation of VK2735 later this year.
VK2809 for NASH: A Step Towards Transforming NASH Treatment
Another promising development is Viking's NASH program, VK2809, an orally available small molecule agonist of the thyroid hormone receptor. The company announced positive results from the 52-week VOYAGE study, which demonstrated significant improvements in NASH resolution rate, fibrosis stage, and the combination endpoint of NASH resolution and fibrosis improvement. VK2809-treated patients demonstrated resolution rates ranging from 63% to 75% compared with 29% for placebo, highlighting its potential to significantly impact NASH treatment. Viking plans to schedule an end of Phase II meeting with the FDA to discuss the registration path for VK2809 in NASH.
Looking Ahead: A Future of Innovation and Growth
Viking's earnings call underscored its commitment to transforming obesity and NASH treatment through innovative therapeutic approaches. The company's strategic focus on clinical development, coupled with a strong financial position, positions it well for future growth and success. As Viking moves forward, its ability to deliver on the promise of these promising pipeline programs will be a key factor in shaping the future of obesity and NASH treatment.