Business
Viking Therapeutics Reports Fourth Quarter and Year-End 2024 Financial Results and Provides Corporate Update
Conference call scheduled for 4:30 p.m. ET today Initiation of Phase 3 Studies for Subcutaneous VK2735 for Obesity Planned for 2Q25Phase 2 VENTURE-Oral Dosing
About this update from Viking Therapeutics, Inc.
[{"type":"text","content":"Conference call scheduled for 4:30 p.m. ET today\nInitiation of Phase 3 Studies for Subcutaneous VK2735 for Obesity Planned for 2Q25Phase 2 VENTURE-Oral Dosing Trial Evaluating VK2735 in Obesity UnderwayStrong Year-End Cash Position of $903 MillionSAN DIEGO, Feb. 5, 2025 /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, 2024, 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 and Year Ended December 31, 2024, and Other Recent Events:\n\"2024 was an exciting and extremely productive year for Viking,\" stated Brian Lian, Ph.D., chief executive officer of Viking. \"During the year, the company reported positive data from four different clinical trials, including results from the Phase 2 VENTURE study of subcutaneous VK2735 for obesity, the Phase 1 study of an oral tablet formulation of VK2735 for obesity, the Phase 2b VOYAGE study of VK2809 for the treatment of MASH and fibrosis, and the Phase 1b study of VK0214 for X-ALD. Each of these studies successfully achieved their objectives with each in our view demonstrating best-in-class data. During the year, the company also announced a new pipeline program focused on novel internally developed dual agonists of the amylin and calcitonin receptors. In preclinical models, these compounds demonstrated impressive reductions in body weight and improvement in metabolic profiles. We look forward to advancing this program into clinical development later this year. On the corporate side, Viking completed the year with a strong balance sheet, with over $900 million in cash and equivalents, providing the resources to achieve important clinical goals, including the completion of Phase 3 trials for VK2735 in obesity.\" \nPipeline and Recent Corporate Highlights\nInitiation of Phase 3 Studies for Subcutaneous VK2735 for Obesity Planned for 2Q25. VK2735 is a wholly owned dual agonist of the glucagon like peptide-1, or GLP-1 receptor, and the glucose dependent insulinotropic polypeptide, or GIP receptor, for the potential treatment of obesity and other metabolic disorders. In early 20...