Viking Therapeutics announced its financial results for the fourth quarter and full year ended December 31, 2024, on February 5, 2025. For the fourth quarter, the company reported a net loss of $35.4 million, or $0.32 per share, compared to a net loss of $24.6 million, or $0.25 per share, in the same period of 2023. The full-year 2024 net loss was $110.0 million, or $1.01 per share, compared to $85.9 million, or $0.91 per share, in 2023.
Research and development expenses for the fourth quarter increased to $31.0 million from $20.5 million year-over-year, primarily due to higher manufacturing costs for drug candidates, salaries, benefits, and stock-based compensation. General and administrative expenses also rose to $15.3 million from $8.8 million, driven by legal and patent services, stock-based compensation, and professional fees. These increases reflect the company's aggressive investment in advancing its pipeline.
Viking concluded 2024 with a strong balance sheet, holding cash, cash equivalents, and short-term investments of $903 million, compared to $362 million as of December 31, 2023. Management stated that this cash position provides the resources to achieve important clinical goals, including the completion of Phase 3 trials for VK2735 in obesity, and funds operations through at least June 30, 2026.
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