Viking Therapeutics, Inc. Earnings Recaps
Q2 2026
Jul 31, 2026
Shares declined 2.2% following Viking Therapeutics’ Q2 report as investors digested widening net losses driven by sharply higher R&D and G&A expenses without material clinical milestones or revenue to offset the increased spend.
Key takeaways
- Net loss widened to $128.1 million ($1.10 per share) in Q2 2026, nearly doubling from $65.6 million in Q2 2025.
- R&D expenses surged 92% year-over-year to $115.8 million, reflecting ramped clinical studies, personnel costs, and consulting fees.
- General and administrative costs increased modestly to $16.9 million, driven by higher legal, patent, and consulting expenses.
- Cash and equivalents declined to $502 million from $706 million at the end of 2025, indicating significant cash burn.
- Pipeline activity continued on plan with Phase III VANQUISH trials fully enrolled and a Phase I study initiated, but no data or commercial inflection points reported this quarter.
Q3 2025
Oct 23, 2025
Viking Therapeutics reported a significant increase in net loss for Q3 2025, driven by robust investment in clinical development, notably for its VK2735 obesity treatment, despite achieving positive clinical trial results.
Key takeaways
- Q3 net loss reached $90.8 million, up from $24.9 million year-over-year, reflecting a 295% increase in R&D expenses to $90 million.
- Successful Phase II results for VK2735 demonstrated significant weight loss and safety in patients with obesity, enabling advancement to Phase III trials.
- Cash reserves decreased to $715 million from $903 million since December 2024, ensuring ongoing funding for developmental activities.
- General and administrative expenses declined slightly to $8.6 million in Q3 2025, from $13.8 million in the prior year, driven by reduced legal and patent costs.
- The upcoming clinical study will explore various dosing regimens for VK2735, aiming to sustain weight loss in patients.