Viking Therapeutics (VKTX) Tops Q3 EPS by 1c

Viking Therapeutics (NASDAQ: VKTX) reported Q3 EPS of ($0.11), $0.01 better than the analyst estimate of ($0.12).

"The third quarter was an exciting period for Viking as we made several important announcements regarding our pipeline programs," stated Brian Lian, Ph.D., chief executive officer of Viking Therapeutics. "With our VK2809 program for NASH, we announced topline data from a Phase 2 trial in patients with NAFLD and elevated LDL-C. These results showed excellent safety and tolerability, as well as unprecedented reductions in liver fat from an oral agent, demonstrating best-in-class efficacy on this key endpoint. We look forward to presenting the results of this study at the upcoming AASLD meeting. Also in September, we presented the results of a Phase 2 trial of VK5211, our novel selective androgen receptor modulator (SARM), in patients recovering from hip fracture, at the 2018 meeting of the American Society for Bone and Mineral Research (ASBMR). These data, which showed the impressive effects of VK5211 on muscle growth and body composition, were highlighted during the oral plenary session of the meeting, and we were honored to receive the Most Outstanding Clinical Abstract award by the conference organizers. In addition, in early October the results of an in vivo study of VK2809 in glycogen storage disease were presented at the oral plenary session at the 88th Annual Meeting of the American Thyroid Association (ATA). These data highlighted VK2809\'s effect on reducing inflammatory signaling and improving autophagy, characteristics that are relevant to broader settings, such as NASH. In corporate matters, we raised $176 million during the quarter, strengthening our balance sheet and giving us runway beyond 2020."

For earnings history and earnings-related data on Viking Therapeutics (VKTX) click here.

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