Viking Therapeutics (VKTX) Reports Q3 Loss of $0.08

Viking Therapeutics (NASDAQ: VKTX) reported Q3 EPS of ($0.08), versus ($0.11) reported last year.

"The last few months have been an exciting and productive period at Viking as we prepare for important near-term milestones," stated Brian Lian, Ph.D., chief executive officer of Viking Therapeutics. "With respect to our thyroid receptor beta agonist VK2809, in the third quarter we completed key chronic toxicity studies to support long-term dosing in humans. This work, along with data from completed clinical and other non-clinical studies, formed the basis of an IND application that was submitted to the FDA to initiate a Phase 2b study of VK2809 in patients with biopsy-confirmed NASH. With respect to VK0214, our second thyroid receptor beta agonist, we continued the IND-enabling work that will allow us to initiate clinical development, including a proof-of-concept study in patients with X-ALD, in the first half of next year. In addition to advancing our clinical programs, we\'ve also maintained a tight focus on operating expenses, and ended the quarter with approximately $290 million in cash and equivalents. We believe our current balance sheet is sufficient to see us through multiple value inflection points."

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

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