Viking Therapeutics Q3 2026 Earnings Call: VK2735 Advances, Cash Hits $960M
Source Tradingkey
Key Takeaways
- Viking Therapeutics reported a Q3 2026 net loss of $183.2 million, or $1.55 per share, compared with $90.8 million, or $0.81 per share, in Q3 2025. Higher clinical, manufacturing and personnel costs drove the increase.
- Q3 research and development expense rose 85.3% year over year to $166.8 million as Viking advanced four Phase III studies of VK2735.
- Cash, cash equivalents and short-term investments totaled $960 million at September 30, 2026, including approximately $550 million in net proceeds from recent common stock and convertible note offerings.
- The subcutaneous VK2735 VANQUISH-1 and VANQUISH-2 Phase III trials are fully enrolled and progressing as planned. Viking expects the first participants to enter extension periods in early 2027.
- Viking initiated the Phase III SUNRISE program for oral VK2735. Management said that, if successful, the program could position VK2735 as the first oral dual GLP-1/GIP agonist to reach the market.
- In a maintenance study, participants switching from weekly VK2735 to every-other-week dosing retained 83% to 97% of prior weight loss at week 33. Monthly dosing retained 82% to 90%, versus 61% after transition to placebo.
Key Financial Results
| Metric | Q3 2026 | Q3 2025 | Change |
|---|---|---|---|
| Research and development expense | $166.8 million | $90.0 million | +85.3% |
| General and administrative expense | $20.3 million | $8.6 million | +136.0% |
| Net loss | $183.2 million | $90.8 million | +101.8% |
| Net loss per share | $1.55 | $0.81 | Higher loss of $0.74 per share |
| Metric | Nine months ended September 30, 2026 | Prior-year period | Change |
|---|---|---|---|
| Research and development expense | $432.7 million | $191.5 million | +126.0% |
| General and administrative expense | $51.1 million | $37.1 million | +37.7% |
| Net loss | $469.5 million | $202.0 million | +132.4% |
| Net loss per share | $4.03 | $1.80 | Higher loss of $2.23 per share |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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