Viking Therapeutics reports Q1 EPS (25c), consensus (24c)

At March 31, Viking held cash, cash equivalents and short-term investments of $135.7M vs. $155.5M as of December 31, 2022. "Q1 was an exceptional period for Viking," stated Brian Lian, CEO. "Early in the quarter, we announced completion of enrollment in the Phase 2b VOYAGE study of our lead thyroid hormone receptor beta agonist VK2809 in patients with NASH and fibrosis, and we expect to report data for the primary endpoint of this study in the second quarter. Later in the quarter, we announced results from the first Phase 1 study of our dual incretin receptor agonist VK2735, demonstrating encouraging safety and tolerability, along with positive signs of clinical efficacy, and we expect to initiate a Phase 2 trial in patients with obesity around mid-year. In conjunction with the announcement of Phase 1 results for VK2735, we announced the initiation of a Phase 1 trial to evaluate an oral formulation of this important compound, and we continue to explore further expansion of our weight loss platform. Finally, at the end of the quarter we completed a successful public offering of common stock, strengthening our balance sheet and providing the resources to support the company through multiple clinical catalysts over the coming quarters."