Viking Therapeutics, Inc. (NASDAQ:VKTX) annnounced its fourth-quarter financial results after Wednesday's closing bell. Here's a look at the details from the report.
The Details: Viking Therapeutics reported quarterly losses of 32 cents per share, which missed the analyst consensus estimate for losses of 28 cents. The company reported losses of 25 cents per share in the same period last year.
Viking reported a net loss of $35.4 million in the fourth quarter, compared to a net loss of $24.6 million, in the corresponding period in 2023.
Research and development expenses for the year ended Dec. 31, 2024, were $101.6 million compared to $63.8 million for the same period in 2023. The increase was primarily due to increased expenses related to manufacturing for drug candidates, stock-based compensation and salaries and benefits, partially offset by a decrease in expenses related to clinical studies and preclinical studies.
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“2024 was an exciting and extremely productive year for Viking,” stated Brian Lian, Ph.D., CEO of Viking.
“During the year, the company reported positive data from four different clinical trials, including results from the Phase 2 VENTURE study of subcutaneous VK2735 for obesity, the Phase 1 study of an oral tablet formulation of VK2735 for obesity, the Phase 2b VOYAGE study of VK2809 for the treatment of MASH and fibrosis, and the Phase 1b study of VK0214 for X-ALD. Each of these studies successfully achieved their objectives with each in our view demonstrating best-in-class data,” Lian said.
VKTX Price Action: According to data from Benzinga Pro, Viking Therapeutics shares are down 8.72% after hours at $30.58 on Wednesday.
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