Viking Therapeutics VKTX reported a fourth-quarter 2024 loss per share of 32 cents, wider than the Zacks Consensus Estimate of a loss of 27 cents. The company had incurred a loss of 25 cents per share in the year-ago quarter.

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Currently, Viking Therapeutics does not have any approved products in its portfolio. Hence, it is yet to generate revenues.

More on VKTX’s Q4 Earnings

Research and development expenses surged 51% year over year to $31 million. This uptick was mainly due to increased manufacturing expenses for the company’s drug candidates, along with higher employee-related costs.

General and administrative expenses amounted to $15.3 million, up 74% year over year, primarily due to higher legal fees and employee-related expenses.

As of Dec. 31, 2024, Viking Therapeutics had cash, cash equivalents and short-term investments worth $903 million compared with $930 million as of Sept. 30, 2024.

Full-Year 2024 Results

Devoid of marketed products, Viking Therapeutics did not record any revenues during the year.

VKTX reported a loss of $1.01 per share for the full year. In the year-ago period, management reported a loss of 91 cents.

VKTX’s Pipeline Updates

With no approved/marketed product in its portfolio, the company is focused on developing three drugs in its portfolio — VK2735 (for obesity), VK2809 (for non-alcoholic steatohepatitis [NASH]) and VK0214 (for X-linked adrenoleukodystrophy [X-ALD]).

However, Viking plummeted nearly 10% in after-market trading yesterday post the results announcement. This sell-off was likely triggered due to a lack of any material updates. Some investors pointed out that the company’s latest earnings release only offered modest updates on the pipeline. Year to date, the stock has lost 17% against the industry’s 5% growth.

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VK2735 is being evaluated in separate clinical studies both as oral and subcutaneous (SC) formulations. While a late-stage study on the SC version is expected to start in the second quarter of 2025, management announced the initiation of the phase II VENTURE-Oral Dosing study on the oral formulation earlier this month. VKTX expects to report details from the recently initiated mid-stage study in the second half of 2025.

Management also reiterated its plans to file an investigational new drug (IND) application with the FDA before the end of this year to advance an internally developed amylin agonist program to clinical development for treating obesity.

VKTX is currently evaluating the potential next steps for VK2809, which completed the phase IIb VOYAGE study last year. Overall data from the study showed that 40-50% of patients who received the drug achieved NASH resolution and at least a one-stage improvement in fibrosis compared with 20% in the placebo group. Management intends to pursue partnership opportunities for further development of the NASH drug.

In October, Viking reported positive results from a phase Ib study evaluating VK0214 in patients with adrenomyeloneuropathy, a form of X-ALD for which there are currently no pharmacologic treatment options. This study met its primary endpoint — a once-daily dose of VK0214 over 28 days was safe and well tolerated by study participants. Treatment with the drug also significantly reduced plasma levels of very long-chain fatty acids and other lipids compared to placebo. Like VK2809, management is also pursuing collaboration prospects for the X-ALD drug.

VKTX’s Zacks Rank

Viking currently carries a Zacks Rank #3 (Hold).

Viking Therapeutics, Inc. Price

Viking Therapeutics, Inc. price | Viking Therapeutics, Inc. Quote

Our Key Picks Among Biotech Stocks

Some better-ranked stocks from the sector are BioMarin Pharmaceutical BMRN, Castle Biosciences CSTL and Erasca ERAS. While BMRN and CSTL sport a Zacks Rank #1 (Strong Buy) each at present, ERAS carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

In the past 90 days, estimates for BioMarin’s earnings per share have moved up from $3.93 to $4.01 for 2025. Year to date, shares of BMRN have lost over 2%.

BMRN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 28.70%.

Castle Biosciences’ loss estimates for 2025 have narrowed from $1.88 per share to $1.70 in the past 90 days. Shares of Castle Biosciences have risen nearly 6% in the year so far.

CSTL’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 172.72%.

In the past 90 days, estimates for Erasca’s 2025 loss per share have improved from 82 cents to 61 cents. In the year-to-date period, Erasca’s shares are down 27%.

ERAS’ earnings beat estimates in two of the trailing four quarters and missed the mark on the other two occasions, delivering an average negative surprise of 7.04%.

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