Viking Therapeutics, Inc. (NASDAQ:VKTX) Q3 2024 Earnings Conference Call October 23, 2024 4:30 PM ET

Company Participants

Stephanie Diaz – Manager-Investor Relations
Brian Lian – President and Chief Executive Officer
Greg Zante – Chief Financial Officer

Conference Call Participants

Joon Lee – Truist
Annabel Samimy – Stifel
Steve Seedhouse – Raymond James
Roger Song – Jefferies
Jay Olson – Oppenheimer
Justin Zelin – BTIG
Thomas Smith – Leerink Partners
Yale Jen – Laidlaw & Company
Hardik Parikh – JPMorgan
Alex Ramsey – William Blair

Operator

Welcome to the Viking Therapeutics Third Quarter 2024 Financial Results Conference Call. At this time, all parties are in a listen-only mode. Following management’s prepared remarks, there will be question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded today, October 23, 2024.

I would now like to turn the conference over to Viking's Manager of Investor Relations, Stephanie Diaz. Please go ahead, Stephanie.

Stephanie Diaz

Hello and thank you all for participating in today's call. Joining me today is Brian Lian, Viking's President and CEO; and Greg Zante, Viking's CFO.

Before we begin, I'd like to caution that comments made during this conference call today, October 23, 2024, will contain forward-looking statements under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements about Viking's expectations regarding its development activities, time lines and milestones. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and adversely and reported results should not be considered as an indication of future performance. These forward-looking statements speak only as of today's date, and the company undertakes no obligation to revise or update any statement made today. I encourage you to review all of the company's filings with the Securities and Exchange Commission concerning these and other matters.

I'll now turn the call over to Brian Lian for his initial comments.

Brian Lian

Thanks, Stephanie, and good afternoon to everyone listening in by phone or on the webcast. Today, we'll review our financial results for the three and nine months ended September 30, 2024, and provide an update on recent progress with our clinical programs and operations. The first three quarters of 2024 have been data-rich for Viking, with the company delivering positive data from four clinical programs as well as promising in vivo data from a new preclinical program.

Beginning in the first quarter, we announced positive results from the Phase 2 VENTURE trial evaluating subcutaneous VK2735 for the treatment of obesity. This trial demonstrated impressive reductions in body weight after 13 weeks of treatment. We also announced the initial results from a 28-day Phase 1 trial, evaluating a novel oral formulation of this compound, showing excellent tolerability and encouraging reductions in body weight.