Viking Therapeutics Reports $45.6 Million Net Loss in Q1 2025, No Revenue Generated

Viking Therapeutics, Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $45.6 million, compared to a net loss of $27.4 million for the same period in 2024. The company did not generate any revenue during the quarter, consistent with its previous fiscal periods. Operating expenses surged to $55.5 million, up from $34.1 million year-over-year, primarily driven by increased research and development costs, which rose by 71.7% to $41.4 million, reflecting heightened activity in clinical trials and manufacturing for its drug candidates.

The company’s cash and cash equivalents increased to $37.9 million as of March 31, 2025, up from $26.7 million at the end of 2024. However, total current assets decreased to $866 million from $908.3 million, largely due to a decline in short-term investments. Viking's total liabilities also fell to $20.1 million from $28 million, indicating improved management of its obligations. The company’s accumulated deficit grew to $533.5 million, highlighting the ongoing financial challenges as it continues to invest heavily in its drug development pipeline.

Strategically, Viking Therapeutics has made significant advancements in its clinical programs. The company recently entered into multi-year manufacturing agreements with Corden Pharma Colorado, securing dedicated capacity for the production of its lead candidate, VK2735, which is being developed for obesity treatment. The company has also initiated a Phase 2 clinical trial for VK2735 and plans to advance into Phase 3 studies in the second quarter of 2025. Additionally, Viking has formed subsidiaries in Australia and Ireland to leverage local research and development incentives.

As of March 31, 2025, Viking employed 45 full-time staff, reflecting its commitment to expanding its workforce to support ongoing and future clinical trials. The company has not yet reported any significant product adoption rates or market share figures, as it remains in the clinical development stage. Looking ahead, Viking anticipates continued losses as it invests in its drug candidates, with expectations of needing to raise additional capital to fund its operations and clinical trials. The company believes its current cash reserves will sustain operations through at least mid-2026, but it acknowledges the necessity of securing further funding to support its ambitious development plans.