Viking Therapeutics reports Q2 milder-than-expected net loss as obesity trials advance

Overview

• U.S. biopharma firm's Q2 net loss and loss per share beat analyst expectations

• Net loss widened yr/yr due to higher RD and administrative expenses

• Company ended Q2 with $502 mln in cash and short-term investments

Outlook

• Viking expects to initiate Phase 3 oral VK2735 trial in 4Q26

• Company expects VK2735 maintenance dosing study data in 3Q26

• Phase 1 study of amylin agonist VK3019 is underway

Result Drivers

• RD SPENDING - Higher research and development expenses driven by increased clinical study activity, salaries, benefits, stock-based compensation and third-party consultants

• ADMINISTRATIVE COSTS - General and administrative expenses rose due to higher spending on consultants, legal and patent services, and salaries and benefits

Company press release: ID:nPn3jSS5da

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology medical research peer group is "buy"

• Wall Street's median 12-month price target for Viking Therapeutics Inc is $97.50, about 188% above its July 28 closing price of $33.86

Reuters Recommended Reads

• July 29 - Ionis Q2 adjusted operating loss narrows

• July 29 - Biogen beats quarterly estimates as newer drugs drive growth

• July 28 - Novo Nordisk must face US shareholder lawsuit over CagriSema weight loss trial

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)