Viking Therapeutics Reports Increased Operating Expenses and Net Loss for Nine Months Ending September 30, 2025

Viking Therapeutics, Inc. reported significant financial developments in its latest 10-Q filing for the nine months ending September 30, 2025. The company, which focuses on developing therapies for metabolic and endocrine disorders, recorded no revenue during this period, consistent with its historical performance. However, operating expenses surged to $228.6 million, up from $104.7 million in the same period last year, primarily driven by increased research and development costs associated with ongoing clinical trials for its drug candidates, particularly VK2735 and VK2809. The net loss for the nine months was $202 million, compared to a loss of $74.5 million in the prior year.

The company's cash and cash equivalents increased significantly to $100.4 million as of September 30, 2025, up from $26.7 million at the end of 2024. This increase is attributed to a strategic focus on managing its investments, with short-term investments totaling $614.2 million, down from $875.9 million at the end of the previous fiscal year. Viking's total assets decreased to $739.4 million from $908.3 million, reflecting the company's ongoing investment in clinical trials and operational expenses.

In terms of operational developments, Viking Therapeutics has made strides in its clinical programs. The company initiated the Phase 3 VANQUISH program for VK2735 in June 2025, which includes two studies targeting obesity and type 2 diabetes. Additionally, the company has entered into multi-year manufacturing agreements with Corden Pharma to secure the supply of active pharmaceutical ingredients and finished products for VK2735. As of September 30, 2025, Viking had 112.4 million shares of common stock outstanding, reflecting a slight increase from the previous year.

Looking ahead, Viking Therapeutics expressed confidence in its financial position, stating that its current cash reserves are expected to fund operations through at least December 31, 2026. However, the company acknowledged the need for additional capital to support ongoing clinical trials and potential commercialization efforts. The management emphasized that the future financial performance will depend on the successful development and regulatory approval of its drug candidates, as well as the ability to establish strategic collaborations for commercialization. The company remains focused on navigating the complexities of the biopharmaceutical landscape while managing its operational and financial strategies effectively.