Wed, Oct 23, 9:02 PM (71 days ago)
For the quarter ended September 30, 2024, Viking Therapeutics, Inc. (VKTX) reported no revenue, continuing its trend as a clinical-stage biopharmaceutical company focused on metabolic disorders. Research and development expenses surged 24% YoY to $22.8 million, driven by increased manufacturing and regulatory costs. General and administrative expenses rose 55% to $13.8 million, reflecting higher stock-based compensation and legal fees. The net loss for the quarter was $24.9 million, slightly higher than the $22.5 million loss in Q3 2023. Cash and cash equivalents were $50.3 million, with total assets of $937.9 million, up from $368.5 million at year-end 2023, bolstered by significant financing activities, including a $597.1 million public offering in March 2024. The company has sufficient capital to fund operations into late 2025. However, uncertainties remain regarding clinical trial outcomes and regulatory approvals, which could impact future revenue and operational viability.