Viking Therapeutics (VKTX) Misses Q2 EPS by 2c

August 1, 2019 4:44 PM EDT

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Viking Therapeutics (NASDAQ: VKTX) reported Q2 EPS of ($0.11), $0.02 worse than the analyst estimate of ($0.09).

"The second quarter was an especially active period at Viking, highlighted by our presentation of additional VK2809 clinical data, as well as continued progress toward our planned Phase 2b study in biopsy-confirmed NASH," stated Brian Lian, Ph.D., chief executive officer of Viking Therapeutics. "New data presented at EASL from our completed Phase 2a study of VK2809 further validated the compound's potency at reducing liver fat and plasma lipids, even at the lowest evaluated dose of 5 mg per day, and provided additional encouraging safety data. As we look to the second half of the year, we've been working diligently to prepare for our next study, which will be a Phase 2b study in patients with biopsy-confirmed NASH. We currently expect to file an IND with the FDA's GI division and initiate this study by year-end. In addition to our progress with VK2809, we continue to advance our IND-enabling work for VK0214 for the treatment of X-ALD and expect to initiate a Phase 1 clinical trial in the first half of 2020. Finally, to support these endeavors, we continue to carefully manage spending. We completed the quarter with over $290 million in cash, which we believe is sufficient to support operations through multiple important clinical milestones."

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

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