Viking Therapeutics Widens Quarterly Loss as Clinical Spending Increases
The biotechnology company reported a net loss of $128.0 million for the second quarter ended June 30, 2026.
Viking Therapeutics (VKTX) reported a net loss of $128.0 million, or $1.10 a share, for the second quarter ended June 30, 2026. The loss increased from $65.6 million, or $0.58 a share, in the corresponding prior-year period.
The widening loss followed a significant increase in operational spending as the company advanced its clinical pipeline. Research and development expenses rose to $115.8 million in the second quarter, compared to $60.2 million in the second quarter of 2025. The increase was due to higher costs for consultants, salaries, and clinical studies.
General and administrative expenses also rose, reaching $16.9 million in the second quarter from $14.4 million in the prior-year period. These expenditures contributed to a decrease in the company's liquidity; cash, cash equivalents, and short-term investments fell to $502 million as of June 30, 2026, from $706 million as of December 31, 2025.
Development of the company's lead candidate, VK2735, continued with the Phase 3 VANQUISH-2 trial for the subcutaneous formulation reaching full enrollment in the first quarter of 2026. This followed the completion of the VANQUISH-1 trial in November 2025.
Timeline shifts affected other VK2735 programs. The company now expects to initiate the Phase 3 trial for the oral formulation of VK2735 in the fourth quarter of 2026, a delay from the third-quarter timeline guided in February 2026. Results from the VK2735 maintenance dosing study are expected in the third quarter of 2026.
Viking expanded its pipeline in the second quarter by initiating a Phase 1 single ascending dose clinical trial of the amylin receptor agonist VK3019. This followed an IND filing in the first quarter of 2026.
The company also made a leadership change during the quarter, appointing Hubert Chen, M.D., as chief medical officer.