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Viking Therapeutics Reports Fourth Quarter and Year-End 2023 Financial Results and Provides Corporate Update
Conference call scheduled for 4:30 p.m. ET today Results for Phase 2 VENTURE Trial of GLP-1/GIP Agonist VK2735 in Obesity Expected in 1Q24Histology Results
About this update from Viking Therapeutics, Inc.
[{"type":"text","content":"Conference call scheduled for 4:30 p.m. ET today\nResults for Phase 2 VENTURE Trial of GLP-1/GIP Agonist VK2735 in Obesity Expected in 1Q24Histology Results for Phase 2b VOYAGE Study Evaluating VK2809 for the Treatment of NASH and Fibrosis Expected in 1H24Results for Phase 1 Trial of Oral VK2735 Expected in 1Q24Strong Year-End Cash Position of $362 MillionSAN DIEGO, Feb. 7, 2024 /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 fourth quarter and year ended December 31, 2023, 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 December 31, 2023, and Other Recent Events:\n\"2023 was an event-filled year for Viking, with the company achieving significant progress with each of our four clinical programs,\" stated Brian Lian, Ph.D., chief executive officer of Viking. \"In the first quarter, we reported results from the first Phase 1 trial of VK2735, our newest clinical program, for the treatment of obesity. This study demonstrated early signals of efficacy, as well as promising safety and tolerability. Last fall, we initiated the VENTURE Phase 2 trial to evaluate VK2735's longer term clinical benefits and completed enrollment in an upsized trial more rapidly than expected. In 2023 we also initiated a complementary Phase 1 clinical trial evaluating a novel oral formulation of VK2735, which we believe may expand the market opportunity for this therapeutic. We expect to report topline results from both the VENTURE Phase 2 study and the Phase 1 trial of oral VK2735 in the first quarter of 2024. An additional highlight for 2023 was the announcement of positive topline results from our Phase 2b VOYAGE study of VK2809 in patients with biopsy-confirmed non-alcoholic steatohepatitis with fibrosis. This study affirmed VK2809's best-in-class profile, demonstrating statistically significant liver-fat reduction, unique lipid-lowering properties, and favorable safety and tolerability profile. We look forward to reporting the 52-week biopsy data from this study in the first half of 2024. Importantly, we completed 2023 with a strong cash position that will support our ...