Business
Viking Therapeutics Reports First Quarter 2020 Financial Results and Provides Corporate Update
Conference call scheduled for 4:30 p.m. ET today - Enrollment Continues in Phase 2b VOYAGE Study of VK2809 in NASH - New Data from VK2809 Phase 2 NAFLD Trial
About this update from Viking Therapeutics, Inc.
[{"type":"text","content":"Conference call scheduled for 4:30 p.m. ET today\n - Enrollment Continues in Phase 2b VOYAGE Study of VK2809 in NASH\n - New Data from VK2809 Phase 2 NAFLD Trial to be Highlighted at EASL\n - IND Filing for VK0214 in X-ALD on Track for Mid-Year\n - Balance Sheet Remains Strong, Quarter-End Cash Approximately $270 Million\n\n\nSAN DIEGO, April 30, 2020 /PRNewswire/ -- Viking Therapeutics, Inc. (Viking) (NASDAQ: VKTX), a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders, today announced its financial results for the first quarter ended March 31, 2020, and provided an update on its clinical pipeline and other corporate developments.\n\n \n \n \n \n \n \n\n \nHighlights from the Quarter Ended March 31, 2020:\n\"During the first quarter, we made continued progress on our Phase 2b VOYAGE clinical trial evaluating VK2809 in patients with biopsy-confirmed NASH and fibrosis,\" stated Brian Lian, Ph.D., chief executive officer of Viking Therapeutics. \"We have been proactive in implementing steps to mitigate the potential impact of the coronavirus pandemic, and are closely monitoring this evolving challenge. We are encouraged that enrolled patients continue to receive treatment, new patients continue to enroll, and clinical site activations remain ongoing. That said, the pandemic has disrupted each of these activities on some level. We currently anticipate completion of enrollment in VOYAGE in the first half of 2021. In the first quarter, we also made progress with our second thyroid hormone receptor beta agonist, VK0214, for the treatment of X-linked adrenoleukodystrophy. We currently expect to submit an IND for VK0214 this summer and initiate clinical studies with this candidate in the third quarter. Finally, we remain vigilant in managing our balance sheet and ended the quarter with $269 million in cash and cash equivalents, which we believe provides sufficient runway to accomplish multiple development milestones.\"\nPipeline and Corporate Highlights\nEnrollment continues in Phase 2b VOYAGE study evaluating VK2809 in biopsy-confirmed non-alcoholic steatohepatitis (NASH) and fibrosis. VK2809 is an orally available small molecule agonist of the thyroid hormone receptor that possesses selectivity for liver tissue, as well as the beta receptor subtype, and has demon...