Yahoo Finance Viking Therapeutics Inc (VKTX) Q1 2024 Earnings Call Transcript Highlights: Key Financial ...
Research and Development Expenses: $24.1 million for Q1 2024, up from $11 million in Q1 2023.
General and Administrative Expenses: $10 million for Q1 2024, increased from $9.5 million in Q1 2023.
Net Loss: $27.4 million or $0.26 per share for Q1 2024, compared to $19.5 million or $0.25 per share in Q1 2023.
Cash, Cash Equivalents, and Short-term Investments: $963 million as of March 31, 2024, up from $362 million as of December 31, 2023.
Public Offering: Raised approximately $630 million in gross proceeds from a public offering of common stock.
Release Date: April 24, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q & A Highlights
Q: Sarcopenia is getting a lot of attention these days and some companies are talking about adding a storm to GLP. Any thoughts on bringing back 5 to one one as an add-on strategy? A: Brian Lian, President and CEO of Viking Therapeutics, acknowledged the increasing popularity of addressing muscle loss in pharmacologic settings. He highlighted that the 5 to one one compound is potent and could be useful if muscle loss is deemed clinically relevant.
Q: Can you update us on where you are with the oral BK. two, 7.35 dosing and what the stopping criteria or the maximum dose that you intend to test for the oral? A: Brian Lian mentioned that the dose escalation for oral BK. two, 7.35 is ongoing, and the company plans to continue until a stopping reason such as a plateau in exposures or weight change, or a tolerability issue is encountered. More details are expected around mid-year.
Q: Any steady state around your markets, is it your expectation that VK. two seven, three five would drive percent weight loss greater than tirzepatide? A: Brian Lian explained that at any given dose, the exposures for VK. two seven, three five are significantly higher, which might translate into greater efficacy, though it's hard to predict without longer study data.
Q: On VK. two eight zero nine, what's the general translatability of the 12-week MRI PDFF result into later histology endpoints and are you planning to move the program into Phase three yourself or intend to partner? A: Brian Lian discussed the translatability of liver fat reduction to histologic improvement, noting that it generally shows improved odds of histologic benefit. He mentioned that the company plans to review the VOYAGE study data and then decide on partnering strategies based on the data and FDA feedback.
Q: When you think about the additional doses for the oral, which has shown respectable weight loss metrics, how are you balancing the dose versus the manufacturing capacity issues? A: Brian Lian addressed concerns about manufacturing capacity, noting the current high demand and supply challenges for weight loss compounds. He anticipates that supply dynamics will evolve and improve over the next few years.
Q: For subcu VK. two, seven, three five, what kind of data should we expect in 2Q? Do you think you'll have enough data to support less frequent dosing? A: Brian Lian indicated that upcoming data would include lipid and PK data, which are crucial for understanding dosing frequency. The company is also preparing for a Type C meeting with the FDA to discuss the Phase IIb study design.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This article first appeared on GuruFocus.
