Viking Therapeutics Q2 Loss Beats Estimates, But Stock Slides 4.5%
VKTX sits 40% above its 52-week low of $22.959.
Summary
Viking Therapeutics reported a narrower-than-expected Q2 loss of $1.10 per share, beating the $1.25 consensus, yet shares fell 4.5% as R&D costs nearly doubled to $115.8 million. The company ended the quarter with $502 million in cash, down from $706 million at year-end, reflecting heavy investment in its obesity pipeline. Canaccord Genuity raised its price target to $114, citing conviction in the pipeline. Key catalysts ahead: maintenance dosing study data for subcutaneous VK2735 expected by end of September, and the fully enrolled VANQUISH Phase 3 program progressing. The oral formulation showed up to 12.2% weight loss in Phase 2, with 80% of patients achieving at least 10% reduction. The sell-off may reflect profit-taking or concerns over cash burn, but the pipeline milestones remain intact.
At the time of this announcement, VKTX was trading at $32.15 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $22.96 to $43.15. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.