Viking Therapeutics, Inc. (NASDAQ:VKTX) released its first-quarter results after Wednesday's closing bell. Here's a look at the details from the report.
The Details: Viking Therapeutics reported quarterly losses of 41 cents per share, which missed the analyst consensus estimate of losses of 34 cents.
The company said the increase in the quarterly net loss was primarily due to the increase in research and development expenses and general and administrative expenses compared to the same period in 2024.
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Research and development expenses were $41.4 million for the first quarter, compared to $24.1 million for the same period in 2024. The increase was primarily due to increased expenses related to manufacturing for the company’s drug candidates, clinical studies, stock-based compensation and salaries and benefits, partially offset by decreased expenses related to pre-clinical studies.
General and administrative expenses were $14.1 million for the first quarter compared to $10 million for the same period in 2024. The increase was primarily due to increased expenses related to legal and patent services, stock-based compensation and insurance, partially offset by a decrease in salaries and benefits.
As of March 31, 2025, Viking held cash, cash equivalents and short-term investments of $852 million, compared to $903 million as of the end of 2024.
“In the first quarter of 2025, Viking continued to build on the strong momentum achieved in 2024,” stated Brian Lian, Ph.D., CEO of Viking.
“Throughout the first quarter we continued to ramp up activities in support of the initiation of Phase 3 trials with the subcutaneous formulation of VK2735, which are on track to begin later this quarter. In addition, during the first quarter, we not only announced the initiation of the Phase 2 VENTURE-Oral Dosing trial evaluating the tablet formulation of VK2735, but also the completion of enrollment in this study,” Lian added.
VKTX Price Action: According to data from Benzinga Pro, Viking Therapeutics stock was down 1.12% after hours at $25.50 on Wednesday.
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