Viking Q3 Loss of $1.55/Share Blows Past $1.07 Consensus as Obesity Spend Ramps
VKTX is trading near its 52-week low of $23.82 (3.7% above the low).
Summary
Viking posted a Q3 adjusted loss of $1.55 per share, well wider than the $1.07 consensus and the 81-cent loss a year earlier. The net loss came to $183.19 million with zero revenue, as Phase 3 obesity spending ramps up. The stock is already trading near its 52-week low of $23.82 after falling 23.7% this quarter and 29.2% year to date. The company raised $500 million in a concurrent common stock and convertible notes offering in late September, which funds the VANQUISH program but adds dilution. The miss is the third in four quarters, and the gap to consensus is the widest of the four.
At the time of this announcement, VKTX was trading at $24.70 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.2B. The 52-week trading range was $23.82 to $43.15. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.