Viking Therapeutics reports Q3 EPS (22c) , consensus (25c)

At September 30, 2024, Viking held cash, cash equivalents and short-term investments of $930 M vs. $362M as of December 31, 2023. “The first three quarters of 2024 have been a productive period for Viking, with positive results announced from four different clinical trials and promising initial findings reported from a new preclinical program,” stated CEO Brian Lian. “In Q1, we announced results from the Phase 2 VENTURE trial evaluating subcutaneous VK2735 for obesity, which demonstrated impressive reductions in body weight after 13 weeks of treatment. We also reported the initial results from a Phase 1 trial evaluating an oral formulation of VK2735 in healthy volunteers, which showed encouraging reductions in body weight and excellent tolerability after 28 days of dosing…In addition, significant reductions were observed in plasma levels of very long-chain fatty acids and other lipids. Moving forward, with $930M in cash and equivalents, we believe we have the financial resources to achieve multiple important milestones with our clinical programs.”