Viking Therapeutics Files Q3 2024 10-Q
Ticker: VKTX · Form: 10-Q · Filed: Oct 23, 2024 · CIK: 1607678
Sentiment: neutral
Topics: 10-Q, financials, biotech
Related Tickers: VKTX
TL;DR
Viking Therapeutics (VKTX) Q3 10-Q filed. Financials updated, equity plans detailed.
AI Summary
Viking Therapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported on its financial condition and results of operations, including details on its equity incentive plans and stock purchase plans. Key financial data points such as retained earnings and additional paid-in capital were also disclosed.
Why It Matters
This filing provides investors with an update on Viking Therapeutics' financial health and operational details for the third quarter of 2024, crucial for understanding the company's performance and future prospects.
Risk Assessment
Risk Level: medium — As a biopharmaceutical company, Viking Therapeutics faces inherent risks related to drug development, regulatory approvals, and market competition, which are not fully detailed in this summary but are typical for the sector.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the specific quarter the financial data pertains to.)
- 2024-10-23 — Filing Date (Shows when the report was officially submitted to the SEC.)
Key Players & Entities
- Viking Therapeutics, Inc. (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241023 (date) — Filing date
- 001-37355 (dollar_amount) — SEC File Number
FAQ
What is the fiscal year end for Viking Therapeutics?
The fiscal year end for Viking Therapeutics is December 31.
What is the Standard Industrial Classification code for Viking Therapeutics?
The SIC code for Viking Therapeutics is 2834, which corresponds to Pharmaceutical Preparations.
What is the SEC file number for Viking Therapeutics?
The SEC file number for Viking Therapeutics is 001-37355.
What is the business address of Viking Therapeutics?
The business address is 9920 Pacific Heights Blvd, Suite 350, San Diego, CA 92121.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending September 30, 2024.
Filing Stats: 4,403 words · 18 min read · ~15 pages · Grade level 18.7 · Accepted 2024-10-23 17:00:19
Key Financial Figures
- $0.00001 — ch Registered Common Stock, par value $0.00001 per share VKTX The Nasdaq Stock Mar
Filing Documents
- vktx-20240930.htm (10-Q) — 2002KB
- vktx-ex31_1.htm (EX-31.1) — 16KB
- vktx-ex31_2.htm (EX-31.2) — 16KB
- vktx-ex32_1.htm (EX-32.1) — 12KB
- 0000950170-24-116708.txt ( ) — 7903KB
- vktx-20240930.xsd (EX-101.SCH) — 1038KB
- vktx-20240930_htm.xml (XML) — 1374KB
Notes to Consolidated Financial Statements (unaudited)
Notes to Consolidated Financial Statements (unaudited) 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.
Controls and Procedures
Controls and Procedures 27 Part II. OTHER INFORMATION 29 Item 1.
Legal Proceedings
Legal Proceedings 29 Item 1A.
Risk Factors
Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 63 Item 3. Defaults Upon Senior Securities 63 Item 4. Mine Safety Disclosures 63 Item 5. Other Information 63 Item 6. Exhibits 64
FINANCI AL INFORMATION
PART I. FINANCI AL INFORMATION
Financ ial Statements
Item 1. Financ ial Statements Viking Therapeutics, Inc. Consolidated Balance Sheets (In thousands, except share and per share amounts) September 30, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 50,347 $ 55,516 Short-term investments – available-for-sale 880,093 306,563 Prepaid clinical trial and preclinical study costs 4,476 2,624 Prepaid expenses and other current assets 1,733 2,522 Total current assets 936,649 367,225 Right-of-use assets 1,113 1,126 Deferred financing costs 80 106 Deposits 46 33 Total assets $ 937,888 $ 368,490 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 254 $ 7,512 Other accrued liabilities 24,951 11,299 Lease liability, current 480 324 Total current liabilities 25,685 19,135 Lease liability, net of current portion 755 936 Total long-term liabilities 755 936 Total liabilities 26,440 20,071 Commitments and contingencies ( Note 7 ) Stockholders' equity: Preferred stock, $ 0.00001 par value: 10,000,000 shares authorized at September 30, 2024 and December 31, 2023; no shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Common stock, $ 0.00001 par value: 300,000,000 shares authorized at September 30, 2024 and December 31, 2023; 111,434,821 shares issued and outstanding at September 30, 2024 and 100,113,770 shares issued and outstanding at December 31, 2023 1 1 Treasury stock at cost, no shares at September 30, 2024 and 2,193,251 shares at December 31, 2023 — ( 6,795 ) Additional paid-in capital 1,362,305 733,546 Accumulated deficit ( 452,490 ) ( 377,944 ) Accumulated other comprehensive loss 1,632 ( 389 ) Total stockholders' equity 911,448 348,419 Total liabilities and stockholders' equity $ 937,888 $ 368,490 See accompanying notes to the unaudited consolidated f