Viking Therapeutics (VKTX) Tops Q2 EPS by 1c

Viking Therapeutics (NASDAQ: VKTX) reported Q2 EPS of ($0.13), $0.01 better than the analyst estimate of ($0.14).

Highlights from the Quarter Ended June 30, 2020:

"During the second quarter, we continued enrolling 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. "Despite ongoing challenges due to the pandemic, we are encouraged that sites continue to come back online, and we remain on track to open ex-U.S. sites in the coming months. We continue to anticipate completion of enrollment in VOYAGE in the first half of next year. We have also made excellent progress with our second thyroid hormone receptor agonist, VK0214, for the treatment of X-linked adrenoleukodystrophy, and recently filed an investigational new drug application with the FDA to initiate the clinical development of this important molecule. Pending IND clearance, we plan to initiate a Phase 1 study with VK0214 later this quarter. As we expand our clinical development activities, we continue to carefully manage our cash resources. We are pleased to have ended the quarter with $263 million in cash, which provides the resources to achieve multiple value-driving milestones for our clinical programs."

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

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