Viking Therapeutics reports Q1 EPS (26c), consensus (28c)

“The first quarter of 2024 was an exceptional period for Viking,” stated Brian Lian, Ph.D., chief executive officer of Viking. “During the quarter, the company reported positive top-line results from the Phase 2 VENTURE study of subcutaneous VK2735 in obesity and encouraging initial data from a Phase 1 study of our novel tablet formulation of this compound. We plan to meet with regulators to discuss the path forward for both programs and expect to advance each into further development later this year. In addition, in the first quarter we completed the 52-week biopsies for the Phase 2b VOYAGE study of our thyroid hormone beta receptor agonist VK2809 in biopsy-confirmed NASH and fibrosis. As we’ve previously reported, this study successfully achieved its primary endpoint after 12 weeks of treatment and affirmed VK2809’s potent effect on liver fat, along with its favorable tolerability and safety profile. We plan to report data on histologic changes assessed after 52 weeks of treatment later this quarter. Finally, during the first quarter, the company completed a public offering of common stock, raising approximately $630 million of gross proceeds to aggressively develop our pipeline programs through important clinical milestones.”