The company provided clear evidence that it has plenty of resources to continue developing a potential blockbuster drug.
Viking Therapeutics Inc.'s stock soared 18% Thursday, after the biotech, which is developing a weight-loss drug in pill form that has raised high hopes among analysts and investors, posted earnings that showed enough cash on its balance sheet to fund key clinical trials.
Viking Therapeutics' third-quarter earnings outpace estimates. The company plans to start a mid-stage study on its obesity pill before 2024-end.
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.
Viking Therapeutics Inc. VKTX is set to report its third-quarter earnings on Wednesday, after the market closes. The anticipation is palpable, especially as the stock has skyrocketed almost 240% year-to-date, largely due to excitement surrounding its weight-loss drug candidate, VK2735.
Devoid of marketed drugs, investors will likely focus on VKTX's pipeline updates when it reports third-quarter results.
Viking Therapeutics, Inc. (VKTX) reachead $65.80 at the closing of the latest trading day, reflecting a +1.83% change compared to its last close.
VKTX continues to generate phenomenal returns, driven by encouraging updates from three promising pipeline programs.
Viking recently announced the results of an early-stage clinical trial for VK0214.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
We could be witnessing the birth of a major player in the biotech industry.
This company is operating in one of today's hottest markets.