Viking Therapeutics, Inc. (NASDAQ: VKTX) saw a pre-market plunge of 9.16% on Thursday, following the company's Q4 2024 earnings report that missed analyst estimates and provided incremental updates on its clinical pipeline.

For the fourth quarter, Viking reported a loss of $0.32 per share, missing consensus estimates of a $0.28 per share loss. This earnings miss appears to have been the primary driver behind the stock's pre-market decline.

While the company announced plans to initiate Phase 3 trials for its lead obesity drug candidate VK2735 in Q2 2025 and provided positive data updates across its pipeline, some analysts noted a lack of major new developments or material updates on key programs like VK2735.

Despite the setback, Viking's pipeline continues to show promise. The company highlighted positive Phase 2b data for its NASH drug candidate VK2809, demonstrating statistically significant improvements in NASH resolution, fibrosis, and key lipid parameters. Viking also reported encouraging Phase 1b results for its X-ALD candidate VK0214, with significant reductions in plasma biomarkers observed.

Looking ahead, investors will be closely watching for further updates on Viking's pivotal Phase 3 plans for VK2735 and the progression of its other clinical programs as the company works to bring its innovative therapies to market.