Viking Therapeutics Inc · Q1 2024 earnings

Briefing

Reported positive results from Phase 2 VENTURE trial of VK2735 in obesity, encouraging initial data from Phase 1 study of oral VK2735, and completed a public offering of common stock raising approximately $630 million.

Viking Therapeutics reported positive topline results from the Phase 2 VENTURE study of subcutaneous VK2735 in obesity, and encouraging initial data from a Phase 1 study of oral tablet formulation of this compound. The company completed a public offering of common stock, raising approximately $630 million of gross proceeds.

• Phase 2 VENTURE trial of VK2735 in obesity achieved primary and secondary endpoints demonstrating up to 13.1% placebo-adjusted weight loss at 13 weeks.
• Phase 1 trial of oral VK2735 demonstrated encouraging safety and tolerability with up to 3.3% placebo-adjusted weight loss after 28 days.
• 52 Week Histology Results From Phase 2b VOYAGE Study Evaluating VK2809 for the Treatment of NASH and Fibrosis Expected in 2Q24
• Completed Public Offering of Common Stock Raising Gross Proceeds of Approximately $630 Million; Quarter-End Cash Position of $963 Million

Headline financials

Revenue & EPS history

Viking plans to meet with regulators to discuss the path forward for both VK2735 programs and expects to advance each program into further development later this year. The company remains on track to report data from the secondary and exploratory objectives of the VOYAGE study, including the evaluation of histologic changes assessed by hepatic biopsy after 52 weeks of treatment, later this quarter. The company expects to announce results from the Phase 1b study of VK0214 in adrenomyeloneuropathy in mid-2024.