Viking Therapeutics Reports Third Quarter 2024 Financial Results and Provides Corporate Update
Viking Therapeutics reported Q3 2024 financial results and pipeline updates. The company ended Q3 with $930 million in cash. Key highlights include planned End-of-Phase 2 Meeting for subcutaneous VK2735 obesity treatment in Q4 2024, expected initiation of Phase 2 study for oral VK2735 in Q4 2024, and positive Phase 1b results for VK0214 in X-ALD. The company reported a net loss of $24.9 million ($0.22 per share) for Q3 2024, compared to $22.5 million ($0.23 per share) in Q3 2023. R&D expenses increased to $22.8 million from $18.4 million year-over-year.
Viking Therapeutics ha riportato i risultati finanziari del terzo trimestre del 2024 e aggiornamenti sul proprio pipeline. L'azienda ha chiuso il terzo trimestre con 930 milioni di dollari in contante. I punti salienti includono la pianificazione di una riunione di fine fase 2 per il trattamento dell'obesità VK2735 sottocutaneo nel quarto trimestre del 2024, l'avvio previsto di uno studio di fase 2 per VK2735 orale nel quarto trimestre del 2024 e risultati positivi della fase 1b per VK0214 in X-ALD. La società ha riportato una perdita netta di 24,9 milioni di dollari (0,22 dollari per azione) per il terzo trimestre del 2024, rispetto a 22,5 milioni di dollari (0,23 dollari per azione) nel terzo trimestre del 2023. Le spese per ricerca e sviluppo sono aumentate a 22,8 milioni di dollari dai 18,4 milioni dell'anno precedente.
Viking Therapeutics reportó los resultados financieros del tercer trimestre de 2024 y actualizaciones sobre su pipeline. La compañía finalizó el tercer trimestre con 930 millones de dólares en efectivo. Los aspectos más destacados incluyen la reunión de fin de fase 2 planificada para el tratamiento de obesidad VK2735 subcutáneo en el cuarto trimestre de 2024, el inicio esperado del estudio de fase 2 para VK2735 oral en el cuarto trimestre de 2024 y resultados positivos de fase 1b para VK0214 en X-ALD. La compañía reportó una pérdida neta de 24,9 millones de dólares (0,22 dólares por acción) para el tercer trimestre de 2024, en comparación con 22,5 millones de dólares (0,23 dólares por acción) en el tercer trimestre de 2023. Los gastos en I+D aumentaron a 22,8 millones de dólares desde 18,4 millones del año anterior.
Viking Therapeutics는 2024년 3분기 재무 결과 및 파이프라인 업데이트를 보고했습니다. 회사는 3분기를 9억 3천만 달러의 현금으로 마감했습니다. 주요 하이라이트로는 2024년 4분기에 하부 주사 VK2735 비만 치료를 위한 단계 2 종료 회의 계획, 2024년 4분기에 경구 VK2735에 대한 2상 연구 개시 예상, X-ALD에서 VK0214에 대한 긍정적인 1b상 결과가 포함됩니다. 회사는 3분기 2024년 2,490만 달러의 순손실 (주당 0.22달러)를 보고했으며, 이는 2023년 3분기의 2,250만 달러 (주당 0.23달러)와 비교됩니다. 연구 및 개발 비용은 전년 대비 2,280만 달러에서 1,840만 달러로 증가했습니다.
Viking Therapeutics a rapporté les résultats financiers du troisième trimestre 2024 ainsi que des mises à jour concernant son pipeline. L'entreprise a terminé le troisième trimestre avec 930 millions de dollars en liquidités. Parmi les points forts, on note la réunion de fin de phase 2 prévue pour le traitement de l'obésité VK2735 sous-cutané au quatrième trimestre 2024, le lancement prévu de l'étude de phase 2 pour le VK2735 oral au quatrième trimestre 2024 et des résultats positifs de la phase 1b pour le VK0214 dans le cadre de l'X-ALD. L'entreprise a déclaré une perte nette de 24,9 millions de dollars (0,22 dollar par action) pour le troisième trimestre 2024, contre 22,5 millions de dollars (0,23 dollar par action) pour le troisième trimestre 2023. Les dépenses en R&D ont augmenté à 22,8 millions de dollars contre 18,4 millions de dollars l'année précédente.
Viking Therapeutics berichtete über die Finanzergebnisse des dritten Quartals 2024 und aktualisierte Informationen zu ihrem Pipeline. Das Unternehmen beendete das dritte Quartal mit 930 Millionen Dollar in bar. Zu den wichtigsten Höhepunkten gehören das geplante End-of-Phase-2-Treffen für die subkutane VK2735-Behandlung von Fettleibigkeit im vierten Quartal 2024, der voraussichtliche Beginn der Phase-2-Studie für VK2735 oral im vierten Quartal 2024 sowie positive Phase-1b-Ergebnisse für VK0214 in X-ALD. Das Unternehmen meldete einen Nettoverlust von 24,9 Millionen Dollar (0,22 Dollar pro Aktie) für das dritte Quartal 2024, verglichen mit 22,5 Millionen Dollar (0,23 Dollar pro Aktie) im dritten Quartal 2023. Die F&E-Ausgaben stiegen auf 22,8 Millionen Dollar von 18,4 Millionen im Vorjahr.
- Strong cash position of $930 million
- VK2735 Phase 2 VENTURE trial showed up to 14.7% body weight reduction
- Positive Phase 1b results for VK0214 in X-ALD showing safety and efficacy
- VOYAGE trial achieved primary and secondary endpoints in NASH/MASH treatment
- Increased net loss to $24.9 million in Q3 2024 from $22.5 million in Q3 2023
- R&D expenses increased to $22.8 million from $18.4 million year-over-year
- G&A expenses rose to $13.8 million from $8.9 million year-over-year
Insights
Viking Therapeutics demonstrates solid pipeline progress with $930 million in cash reserves, positioning them well for upcoming clinical milestones. Q3 financials show increased R&D spending at
The company's obesity drug VK2735 shows promising results with up to
The clinical data portfolio is particularly impressive. VK2735's subcutaneous formulation achieved
The NASH program's histological improvements are noteworthy, with up to
Conference call scheduled for 4:30 p.m. ET today
- End-of-Phase 2 Meeting for Subcutaneous VK2735 for Obesity Planned for 4Q24
- Phase 2 Study of Oral VK2735 in Obesity Expected to Begin 4Q24
- Results of Phase 2b VOYAGE Study of VK2809 in
NASH /MASH With Fibrosis Selected for Oral Presentation at AASLD - Positive Phase 1b Results from VK0214 Study in X-ALD Demonstrate Safety, Tolerability and Reductions in Very Long-Chain Fatty Acids and Plasma Lipids
- Strong Quarter-End Cash Position of
$930 Million
Highlights from the Quarter Ended September 30, 2024, and Other Recent Events:
"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 Brian Lian, Ph.D., chief executive officer of Viking. "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. During the second quarter, the company announced positive 52-week histology results from the Phase 2b VOYAGE trial evaluating VK2809 in patients with
Pipeline and Recent Corporate Highlights
- End-of-Phase 2 Meeting for Subcutaneous VK2735 Planned for 4Q24. VK2735 is a wholly owned dual agonist of the glucagon like peptide-1, or GLP-1 receptor, and the glucose dependent insulinotropic polypeptide, or GIP receptor, for the potential treatment of obesity and other metabolic disorders.
During the first quarter of 2024, Viking announced positive top-line results from its Phase 2 VENTURE study in obesity. This study was a randomized, double-blind, placebo-controlled multicenter study designed to evaluate the safety, tolerability, pharmacokinetics, and weight loss efficacy of VK2735, administered subcutaneously, once weekly, for 13 weeks. The VENTURE trial successfully achieved its primary and all secondary endpoints, with patients receiving VK2735 demonstrating statistically significant reductions in body weight compared with placebo.
With respect to the primary endpoint, patients receiving VK2735 demonstrated statistically significant reductions in mean body weight from baseline, ranging up to14.7% , as well as statistically significant reductions in mean body weight relative to placebo, ranging up to13.1% . Statistically significant differences compared to placebo were observed for all doses starting at Week 1 and were maintained throughout the course of the study. Weight loss in all treated cohorts appeared to be progressive through 13 weeks and did not show evidence of plateauing. The company believes further weight loss could be achieved through extended dosing beyond the 13-week treatment period of this study.
VK2735 also demonstrated encouraging safety and tolerability in the VENTURE study, with the majority of observed adverse events (AEs) being reported as mild or moderate. Treatment and study discontinuation rates among VK2735 cohorts were well-balanced compared with placebo. Of gastrointestinal (GI) related AEs,95% were reported as mild or moderate. Across all cohorts in the VENTURE study, GI-related AEs were most prevalent during the first week of treatment, with observed rates generally declining through the remainder of the study. The results of the VENTURE study will be presented in a poster session on November 3, 2024, at ObesityWeek® 2024, the annual meeting of The Obesity Society, inSan Antonio, TX.
During the second quarter, Viking received written responses to aU.S. Food and Drug Administration (FDA) Type C meeting packet, submitted to the agency earlier in the quarter. Based on agency feedback, the company plans to advance VK2735 into a Phase 3 program for obesity. The company has scheduled an End-of-Phase 2 meeting with the FDA during the fourth quarter, which will help inform next steps for the Phase 3 program. - Initiation of Phase 2 Study of Oral VK2735 in Obesity Expected in 4Q24. In parallel with the development of a subcutaneous formulation of VK2735, Viking is also developing an oral tablet formulation of this compound. The company believes a tablet formulation could represent an attractive treatment option for patients who are hesitant to initiate injection-based therapy, or for those seeking to maintain the weight loss they have already achieved. A key advantage in this regard is the potential to transition patients from the subcutaneous formulation to an oral formulation which utilizes the same molecule. Viking believes this may reduce the risk of unexpected safety or tolerability challenges and could be an attractive option for both patients and clinicians.
During the first quarter, Viking reported the initial data from a randomized, double-blind, placebo-controlled Phase 1 trial in healthy adults with a minimum BMI of 30 kg/m2, evaluating once-daily oral doses ranging from 2.5 mg to 40 mg. The primary objective of the study was to evaluate the safety and tolerability of VK2735 administered as an oral tablet once daily for 28 days. The secondary objective was to evaluate the pharmacokinetics of orally administered VK2735 in healthy subjects. Exploratory pharmacodynamic measures included assessments of changes in body weight and other metrics.
Oral VK2735 was shown to be safe and well tolerated following once daily dosing for up to 28 days, at dose levels up to 40 mg. Among subjects receiving oral VK2735, all treatment emergent adverse events (TEAEs) were reported as mild or moderate in severity, with the majority,76% , reported as mild. Similarly, all GI-related AEs in this study were reported as mild or moderate, with the majority,79% , reported as mild. Mild nausea was reported in14% of subjects receiving VK2735. No vomiting was reported among subjects receiving VK2735. Diarrhea was reported in3% of VK2735 treated subjects, compared with20% of subjects receiving placebo. Overall, no clinically meaningful differences were reported for GI-related AEs among subjects treated with VK2735 compared with placebo.
An exploratory assessment of change in body weight showed that subjects receiving oral VK2735 demonstrated dose dependent reductions in body weight, ranging up to approximately5.3% from baseline. Placebo-adjusted reductions in body weight reached up to approximately3.3% from baseline. Body weight reductions compared with baseline and placebo were statistically significant at the highest dose evaluated. Weight loss in the 28-day window of this study was progressive at the 20 mg and 40 mg dose levels, with no plateau observed.
Given the promising weight loss signal demonstrated after 28 days of once daily dosing, along with the excellent tolerability profile observed at doses of up to 40 mg, further dose-escalation has been evaluated at daily doses of up to 100 mg. Results from this study have been accepted for poster presentation at the upcoming ObesityWeek meeting on November 3, 2024, inSan Antonio , TX. Based on observations in the Phase 1 study, Viking believes that further benefits from oral dosing of VK2735 might be anticipated from longer dosing periods. To this end, the company plans to initiate a 13-week Phase 2 trial in patients with obesity in the fourth quarter of this year. - Successful Phase 2b VOYAGE Trial in
NASH /MASH Reported in 2Q24; Data to be Featured in Oral Late Breaker Presentation at The Liver Meeting 2024. VK2809 is an orally available, small molecule agonist of the thyroid hormone receptor that is selective for liver tissue, as well as the beta isoform of the receptor.
VK2809 was evaluated in the Phase 2b VOYAGE study, a randomized, double-blind, placebo-controlled, multicenter, international trial designed to assess the efficacy, safety and tolerability of VK2809 following 52 weeks of dosing in patients with biopsy-confirmedNASH and fibrosis. Enrollment included patients with at least8% liver fat content as measured by magnetic resonance imaging, proton density fat fraction, as well as F2 and F3 fibrosis. The primary endpoint of the study evaluated the change in liver fat from baseline to Week 12 in patients treated with VK2809 compared to patients receiving placebo. Secondary and exploratory endpoints assessed histologic changes, such asNASH /MASH resolution and fibrosis improvement, following 52 weeks of treatment.
In 2023, the company reported that VOYAGE had successfully achieved its primary endpoint, with patients receiving VK2809 demonstrating statistically significant reductions in liver fat content from baseline to Week 12 as compared with placebo. The median relative change from baseline in liver fat among patients treated with VK2809 ranged from38% to55% after 12 weeks. In addition, up to85% of patients receiving VK2809 experienced at least a30% relative reduction in liver fat.
In the second quarter of 2024, Viking announced additional results from the VOYAGE study, demonstrating the successful achievement of the trial's secondary endpoints evaluating histologic changes assessed by hepatic biopsy after 52 weeks of treatment. On the secondary endpoint ofNASH /MASH resolution without worsening of fibrosis, VK2809-treated patients demonstratedNASH /MASH resolution rates ranging from63% to75% , compared with29% for placebo. On the secondary endpoint evaluating the proportion of patients demonstrating at least a one-stage improvement in fibrosis with no worsening ofNASH /MASH, the proportion of VK2809-treated patients demonstrating improvements in fibrosis ranged from44% to57% , compared with34% for placebo. On the secondary endpoint evaluating the proportion of patients experiencing both the resolution ofNASH /MASH and at least a one-stage improvement in fibrosis, the proportion of VK2809-treated patients achieving both measures ranged from40% to50% , compared with20% for placebo.
Consistent with prior studies, patients receiving VK2809 in VOYAGE demonstrated statistically significant improvements in plasma lipids. Placebo-adjusted reductions in low-density lipoprotein cholesterol (LDL-C) ranged from20% to25% , and reductions in triglycerides and atherogenic proteins such as apolipoprotein B, lipoprotein (a), and apolipoprotein C-III, were also significantly improved relative to placebo. These lipids have been correlated with cardiovascular risk, suggesting that treatment with VK2809 may offer a long-term cardio-protective benefit.
VK2809 also demonstrated an encouraging safety and tolerability profile through 52 weeks of treatment, with minimal differences compared with the previously reported results from 12 weeks. The majority,94% , of treatment related adverse events among patients receiving VK2809 were reported as mild or moderate. Discontinuations due to adverse events were low and balanced across placebo and treatment arms. VK2809 demonstrated excellent GI tolerability through 52 weeks of treatment, with similar rates of nausea, diarrhea, stool frequency, and vomiting among VK2809-treated patients as compared to placebo.
The company believes the Phase 2b VOYAGE data demonstrate VK2809's best-in-class efficacy on bothNASH /MASH resolution and fibrosis improvement, along with the potential for cardiovascular benefit through improvement in plasma lipids. Results from the VOYAGE study have been selected for oral presentation at The Liver Meeting, the annual meeting of the American Association for the Study of Liver Disease, on November 19, 2024, in San Diego. - Positive Phase 1b Results from VK0214 Study in X-ALD Demonstrate Safety, Tolerability and Reductions in Very Long-Chain Fatty Acids and Plasma Lipids. VK0214 is a novel, orally available thyroid hormone receptor beta agonist that is being evaluated as a potential treatment for X-linked adrenoleukodystrophy (X-ALD), a rare neurogenerative disease for which there are currently no pharmacologic treatment options.
Subsequent to the end of the third quarter, the company announced positive results from a Phase 1b study evaluating VK0214 in patients with the adrenomyeloneuropathy (AMN), form of X-ALD, which is the most common form of the disorder. The study enrolled patients across three cohorts: placebo, 20 mg daily, and 40 mg daily. The primary objectives were to evaluate the safety and tolerability of VK0214 in subjects with AMN, when administered once-daily over a 28-day dosing period. Secondary objectives included an evaluation of the pharmacokinetics of VK0214 in this population. An exploratory objective was to evaluate the effects of VK0214 on plasma levels of very long-chain fatty acids (VLCFAs) in subjects with AMN.
Results from the Phase 1b study showed VK0214 to be safe and well-tolerated following once-daily dosing over 28 days. TEAEs were reported as mild to moderate; one subject in the placebo cohort experienced a wrist fracture that was characterized as a severe adverse event. GI-related adverse events were higher among placebo subjects (33% ) compared with VK0214-treated subjects (11% ).
Treatment with VK0214 resulted in significant reductions in mean plasma VLCFA levels at both doses evaluated, 20 mg/day and 40 mg/day, compared to placebo. Importantly, cohorts receiving VK0214 demonstrated reductions in mean plasma levels of the 26 carbon lysophosphatidyl choline (C26:0-LPC) derivative, a key diagnostic marker. In addition to VLCFA changes, subjects who received VK0214 experienced statistically significant reductions in other plasma lipids. Mean reductions relative to baseline and placebo were observed for LDL-C, apolipoprotein B, and lipoprotein (a) following 28 days of treatment with VK0214.
Viking is continuing to evaluate the complete data set, after which it will consider next steps for this program. - Novel Amylin Agonist Program Continues to Advance. During the second quarter, Viking presented preclinical data at the American Diabetes Association's (ADA's) annual Scientific Sessions from an internally developed dual amylin and calcitonin receptor agonist program. As the amylin receptor plays an important role in food intake and metabolic control, Viking believes it represents an attractive potential target for therapeutic intervention in obesity.
The company's ADA presentation highlighted the effects of treatment on body weight, food intake and metabolic profile in both healthy rats and in diet-induced obese mice. The study demonstrated that Viking's dual amylin and calcitonin receptor agonists reduced food intake in lean rats in the period from 0 – 72 hours following a single subcutaneous dose. At 72 hours following a single dose, Viking's compounds resulted in up to8% body weight reductions compared to vehicle-treated animals. In a rodent model of diet-induced obesity, treatment with Viking's compounds for 24 days resulted in up to10% weight loss from baseline.
The company believes that these results, as well as those from other preclinical studies, support the continued development of amylin agonists for obesity. Viking expects to file an investigational new drug (IND) application for this program in 2025. - Upcoming Scientific Presentations and Investor Events. Viking management will participate in the following upcoming scientific and investor events:
Scientific Presentations
Results From the 13-Week VENTURE Phase 2a Study of the GLP-1/GIP Co-Agonist VK2735 in Obese Subjects
Obesity Week, Poster PresentationSan Antonio, TX
November 3, 2024
First-in-Human Study of an Oral Formulation of the GLP-1/GIP Co-Agonist VK2735 in Healthy Adults
Obesity Week, Poster PresentationSan Antonio, TX
November 3, 2024
Results from the 52 Week Phase 2b VOYAGE Trial of VK2809 in Patients with Biopsy-Confirmed Non-Alcoholic Steatohepatitis and Fibrosis: A Randomized, Placebo-Controlled Trial
The 75th Liver Meeting (AASLD), Late Breaking Oral Presentation 5013San Diego, CA
11:00 am PT, November 19, 2024
Investor Events
Truist Healthcare ConferenceNew York, NY
November 7, 2024
UBS Global Healthcare ConferenceRancho Palos Verdes, CA
November 11 – 14, 2024
Stifel Healthcare ConferenceNew York, NY
November 18 – 19, 2024
Jefferies Healthcare ConferenceLondon, UK
November 19 – 21, 2024
JP Morgan Healthcare ConferenceSan Francisco, CA
January 13 – 16, 2025
Third Quarter and Nine Month 2024 Financial Highlights
Third Quarter ended September 30, 2024 and 2023
Research and development expenses were
General and administrative expenses were
For the three months ended September 30, 2024, Viking reported a net loss of
Nine Months Ended September 30, 2024 and 2023
Research and development expenses for the nine months ended September 30, 2024, were
General and administrative expenses for the nine months ended September 30, 2024, were
For the nine months ended September 30, 2024, Viking reported a net loss of
Balance Sheet as of September 30, 2024
At September 30, 2024, Viking held cash, cash equivalents and short-term investments of
Conference Call
Management will host a conference call to discuss Viking's third quarter 2024 financial results today at 4:30 pm Eastern. To participate in the conference call, please dial (844) 850-0543 from the
About Viking Therapeutics, Inc.
Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development of novel first-in-class or best-in-class therapies for the treatment of metabolic and endocrine disorders, with three compounds currently in clinical trials. Viking's research and development activities leverage its expertise in metabolism to develop innovative therapeutics designed to improve patients' lives. Viking's clinical programs include VK2735, a novel dual agonist of the glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors for the potential treatment of various metabolic disorders. Data from a Phase 1 and a Phase 2 trial evaluating VK2735 (dosed subcutaneously) for metabolic disorders demonstrated an encouraging safety and tolerability profile as well as positive signs of clinical benefit. Concurrently, the company is evaluating an oral formulation of VK2735 in a Phase 1 trial. Viking is also developing VK2809, a novel, orally available, small molecule selective thyroid hormone receptor beta agonist for the treatment of lipid and metabolic disorders. The compound successfully achieved both the primary and secondary endpoints in a recently completed Phase 2b study for the treatment of biopsy-confirmed non-alcoholic steatohepatitis (
For more information about Viking Therapeutics, please visit www.vikingtherapeutics.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding Viking Therapeutics, Inc., under the safe harbor provisions of the
Viking Therapeutics, Inc. Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except per share amounts) (Unaudited) | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
2024 | 2023 | 2024 | 2023 | |||||||||||||
Revenues | $ | — | $ | — | $ | — | $ | — | ||||||||
Operating expenses: | ||||||||||||||||
Research and development | 22,785 | 18,379 | 70,657 | 43,304 | ||||||||||||
General and administrative | 13,771 | 8,886 | 34,026 | 28,238 | ||||||||||||
Total operating expenses | 36,556 | 27,265 | 104,683 | 71,542 | ||||||||||||
Loss from operations | (36,556) | (27,265) | (104,683) | (71,542) | ||||||||||||
Other income (expense): | ||||||||||||||||
Amortization of financing costs | (24) | (2) | (70) | (62) | ||||||||||||
Interest income, net | 11,531 | 4,733 | 30,096 | 10,314 | ||||||||||||
Realized gain on investments, net | 109 | — | 111 | — | ||||||||||||
Total other income, net | 11,616 | 4,731 | 30,137 | 10,252 | ||||||||||||
Net loss | (24,940) | (22,534) | (74,546) | (61,290) | ||||||||||||
Other comprehensive loss, net of tax: | ||||||||||||||||
Unrealized gain on securities | 3,902 | 221 | 2,079 | 305 | ||||||||||||
Foreign currency translation gain (loss) | 2 | (86) | (58) | (108) | ||||||||||||
Comprehensive loss | $ | (21,036) | $ | (22,399) | $ | (72,525) | $ | (61,093) | ||||||||
Basic and diluted net loss per share | $ | (0.22) | $ | (0.23) | $ | (0.69) | $ | (0.66) | ||||||||
Weighted-average shares used to compute basic | 110,911 | 99,846 | 108,262 | 92,481 |
Viking Therapeutics, Inc. Consolidated Balance Sheets
(In thousands, except share and per share amounts) | ||||||||
September 30, | December 31, | |||||||
(Unaudited) | ||||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 50,347 | $ | 55,516 | ||||
Short-term investments – available-for-sale | 880,093 | 306,563 | ||||||
Prepaid clinical trial and preclinical study costs | 4,476 | 2,624 | ||||||
Prepaid expenses and other current assets | 1,733 | 2,522 | ||||||
Total current assets | 936,649 | 367,225 | ||||||
Right-of-use assets | 1,113 | 1,126 | ||||||
Deferred financing costs | 80 | 106 | ||||||
Deposits | 46 | 33 | ||||||
Total assets | $ | 937,888 | $ | 368,490 | ||||
Liabilities and stockholders' equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 254 | $ | 7,512 | ||||
Other accrued liabilities | 24,951 | 11,299 | ||||||
Lease liability, current | 480 | 324 | ||||||
Total current liabilities | 25,685 | 19,135 | ||||||
Lease liability, net of current portion | 755 | 936 | ||||||
Total long-term liabilities | 755 | 936 | ||||||
Total liabilities | 26,440 | 20,071 | ||||||
Commitments and contingencies | ||||||||
Stockholders' equity: | ||||||||
Preferred stock, | — | — | ||||||
Common stock, | 1 | 1 | ||||||
Treasury stock at cost, no shares at September 30, 2024 and 2,193,251 shares at December 31, 2023 | — | (6,795) | ||||||
Additional paid-in capital | 1,362,305 | 733,546 | ||||||
Accumulated deficit | (452,490) | (377,944) | ||||||
Accumulated other comprehensive loss | 1,632 | (389) | ||||||
Total stockholders' equity | 911,448 | 348,419 | ||||||
Total liabilities and stockholders' equity | $ | 937,888 | $ | 368,490 |
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SOURCE Viking Therapeutics, Inc.
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