Viking Therapeutics reports Q2 EPS (19c), consensus (19c)

The increase in net loss for the Q2 was primarily due to the increase in general and administrative expenses, noted previously, partially offset by increased interest income compared to the same period in 2022. “In the Q2 Viking continued to build on the momentum achieved in the first quarter, following the successful Phase 1 results of the dual incretin receptor agonist VK2735 for obesity,” stated Brian Lian, CEO. “During the Q2, we reported top-line data from our Phase 2b VOYAGE study of VK2809 in patients with biopsy-confirmed NASH and fibrosis. The results demonstrated robust efficacy on the primary endpoint of reduction in liver fat at 12 weeks, and reaffirmed prior data showing VK2809’s promising tolerability and safety profile. We remain on track to report the histology data from VOYAGE in the first half of 2024. With our lead obesity candidate, VK2735, we expect to initiate a Phase 2 trial later this quarter, and report results in the first half of 2024. In addition, the Phase 1 trial of our novel oral formulation of VK2735 continues to enroll, and we expect to report the initial results from this study later this year. We ended the Q2 with approximately $393M, placing us in a strong financial position, with runway to execute through multiple potential value-creating events.”