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VKTX

Viking Therapeutics, Inc.

VKTX

Viking Therapeutics, Inc. • NASDAQ
$36.81 ▲ 1.49% (+0.54)
Market Cap $4.16 B
52w High $54.54
52w Low $18.92
Dividend Yield 0%
P/E -17.36
Volume 1.18M
Outstanding Shares 113.03M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $98.447M ▲ $-90.787M ▼ 0% $-0.81 ▼ $-90.665M ▼
Q2-2025 $0 $74.462M ▲ $-65.561M ▼ 0% $-0.58 ▼ $-65.425M ▼
Q1-2025 $0 $55.469M ▲ $-45.629M ▼ 0% $-0.41 ▼ $-55.469M ▼
Q4-2024 $0 $46.128M ▲ $-35.417M ▼ 0% $-0.32 ▼ $-35.283M ▼
Q3-2024 $0 $36.469M $-24.94M 0% $-0.22 $-24.829M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $714.57M ▼ $739.415M ▼ $26.385M ▼ $713.03M ▼
Q2-2025 $807.724M ▼ $827.851M ▼ $32.39M ▲ $795.461M ▼
Q1-2025 $851.858M ▼ $866.993M ▼ $20.075M ▼ $846.918M ▼
Q4-2024 $902.612M ▼ $908.321M ▼ $28.043M ▲ $880.278M ▼
Q3-2024 $930.44M $937.888M $26.44M $911.448M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-90.787M ▼ $-94.003M ▼ $160.025M ▲ $480K ▼ $66.496M ▲ $-94.003M ▼
Q2-2025 $-65.561M ▼ $-47.061M ▲ $42.506M ▼ $507K ▲ $-4.06M ▼ $-47.061M ▲
Q1-2025 $-45.629M ▼ $-52.331M ▼ $63.245M ▲ $349K ▼ $11.264M ▲ $-52.331M ▼
Q4-2024 $-35.417M ▼ $-31.181M ▼ $6.584M ▼ $1M ▼ $-23.671M ▼ $-31.181M ▼
Q3-2024 $-24.94M $-21.962M $25.901M $2.522M $6.432M $-21.962M

Five-Year Company Overview

Income Statement

Income Statement Viking is a classic clinical‑stage biotech story: it has essentially no product revenue yet and runs steady losses driven by research and development spending. Over the past several years, losses have gradually increased as programs progress and trials expand. This pattern is normal for a company at this stage, but it also means the business is entirely dependent on outside funding and future approvals, with profitability still some distance away and highly dependent on clinical success.

Balance Sheet

Balance Sheet The balance sheet has strengthened meaningfully in the most recent year, with total assets and shareholder equity rising several times compared with prior years, and no financial debt showing. That points to sizeable recent capital raises, leaving the company funded mainly with cash and investments rather than borrowings. This gives it financial flexibility, but also reflects reliance on issuing new shares to fund development, which can dilute existing owners over time. Overall, it looks conservatively financed but still pre-commercial.

Cash Flow

Cash Flow Cash flows are consistently negative, entirely driven by operating needs such as R&D and overhead, with virtually no spending on physical assets. Free cash flow mirrors operating cash flow, and the outflow has gradually grown as the pipeline advances and trials become more expensive. The recent balance sheet expansion suggests these cash needs are being covered by equity financing. The key risk is that continued trial work will require ongoing access to capital until a partnership, licensing deal, or product launch changes the cash flow profile.

Competitive Edge

Competitive Edge Viking is aiming at some of the most attractive but fiercely competitive areas in biotech: obesity, fatty liver disease, and a rare neurological disorder. Its lead obesity drug follows a mechanism similar to today’s market leaders but aims to improve on them, and its focus on oral options could be a real differentiator if the data hold up. In NASH, it is one of several players racing for approval in a complex disease with no dominant therapy yet. The rare‑disease program benefits from orphan status and less direct competition. Overall, the scientific positioning looks strong, but Viking is much smaller than its big‑pharma rivals, so success will likely require either partnerships or very clear “best‑in‑class” data to stand out.

Innovation and R&D

Innovation and R&D The company’s value is concentrated in its pipeline: a dual obesity drug with both injectable and oral versions, a liver‑targeted pill for NASH, and a rare‑disease candidate built on the same thyroid receptor technology, plus earlier‑stage obesity programs. Viking is not trying to invent entirely new biology; instead it is designing more selective, potentially safer and more effective versions of known mechanisms, which can reduce scientific risk but does not eliminate it. R&D spending is the main use of cash and has been rising, reflecting active clinical development. The pipeline is diversified across several high‑value indications, but each carries meaningful trial, regulatory, and timeline uncertainty.

Summary

Viking Therapeutics today is a pre‑revenue, R&D‑heavy biotech with a much stronger balance sheet than in prior years, no debt, and a focused set of drug candidates in large, high‑profile markets. Financially, it is burning cash steadily and will likely continue to do so for several years, funded by past and potentially future equity raises. Strategically, its edge lies in aiming for “best‑in‑class” and oral therapies in obesity and NASH, plus a niche rare‑disease opportunity with potential regulatory advantages. The opportunity is substantial if late‑stage trials succeed, but so are the usual biotech risks: trial setbacks, delays, competition from larger players, and the need for continued access to capital. Outcomes will be driven far more by clinical and regulatory events than by current financial performance.

NEWS

November 25, 2025 · 4:05 PM UTC

Viking Therapeutics to Participate at the Piper Sandler 37th Annual Healthcare Conference

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November 19, 2025 · 2:55 AM UTC

Viking Therapeutics Announces Completion of Enrollment in Phase 3 VANQUISH-1 Trial of VK2735

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November 6, 2025 · 7:05 AM UTC

Viking Therapeutics Highlights Clinical Data from VK2735 Obesity Program in Presentation at ObesityWeek® 2025

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November 4, 2025 · 4:05 PM UTC

Viking Therapeutics to Participate at Upcoming Investor Conferences

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October 29, 2025 · 4:05 PM UTC

Viking Therapeutics to Highlight Clinical Data from VK2735 Obesity Program in Presentations at ObesityWeek® 2025

Read more