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Viking Therapeutics (VKTX) Q3 Earnings call transcript Oct 23, 2024

Daily EarningsMonday, Oct 28, 2024 8:27 pm ET

1min read

VIK -- VKTX --

In Viking Therapeutics' Q3 2024 earnings call, the company showcased impressive progress in its clinical programs and operations, highlighting a data-rich year marked by positive results from four clinical trials and promising in vivo data from a new preclinical program. The company's leadership team, including President and CEO Brian Lian and CFO Greg Zante, provided insightful updates on the company's financial health and strategic plans for the future.

Financial Highlights and Clinical Progress

Viking reported a net loss for the third quarter and nine months ended September 30, 2024, attributing the increase to increased research and development expenses and general and administrative expenses. However, the company emphasized its strong financial position, with a cash balance of $930 million at the end of Q3.

The company's clinical programs have seen significant progress, with positive results from the Phase II VENTURE trial of VK2735 for obesity and the Phase IIb VOYAGE study of VK2809 for NASH and fibrosis. Viking also announced the successful completion of a 28-day Phase Ib trial of VK0214 for X-linked adrenoleukodystrophy (X-ALD), demonstrating its commitment to addressing a range of health conditions.

Strategic Outlook and Next Steps

Looking ahead, Viking Therapeutics is poised for further advancement of its pipeline programs. The company plans to initiate a Phase III study for VK2735, following a successful Phase II trial, and is preparing to present additional data at the ObesityWeek conference. VK2809 for NASH and fibrosis is also on track, with the company evaluating next steps following FDA feedback. VK0214 for X-ALD is awaiting final data and will decide on next steps once the full data package is reviewed.

Key Takeaways

Viking Therapeutics' Q3 2024 earnings call underscored the company's strategic focus on advancing its clinical programs and capitalizing on its robust pipeline. With positive clinical results and a strong financial position, Viking is well-positioned to continue driving innovation and addressing unmet medical needs in various therapeutic areas. As the company moves forward, investors and stakeholders will closely watch its progress, particularly in the areas of obesity, NASH, fibrosis, and X-ALD.

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