Viking Therapeutics (VKTX) Tops Q4 EPS by 3c
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Viking Therapeutics (NASDAQ: VKTX) reported Q4 EPS of ($0.10), $0.03 better than the analyst estimate of ($0.13).
"We made excellent progress with our lead programs in 2019, setting the company up for an exciting year in 2020," stated Brian Lian, Ph.D., chief executive officer of Viking Therapeutics. "In the fourth quarter, we announced the initiation of the VOYAGE Phase 2b study of our novel thyroid receptor agonist VK2809, for non-alcoholic steatohepatitis (NASH). We are currently in the process of executing this trial in the U.S. and anticipate opening sites outside the U.S. in the months ahead. We were also recently informed that an abstract highlighting additional data from the prior 12-week Phase 2 study of VK2809 has been selected for a podium presentation at the upcoming International Liver Conference, or EASL, in April. We look forward to sharing the data in this prestigious forum. We've also made progress with our second thyroid receptor beta agonist, VK0214, for the treatment of X-linked adrenoleukodystrophy (X-ALD), and we expect to file an IND in the second quarter to initiate clinical development with this molecule. The continued advancement of these programs is supported by our strong balance sheet. We ended the year with $275 million in cash and equivalents, which we believe is sufficient to support development of our pipeline through multiple clinical milestones."
For earnings history and earnings-related data on Viking Therapeutics (VKTX) click here.
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