Key Highlights

  • Consensus EPS of negative 1.06 compares with second-quarter diluted EPS of negative 1.10, against negative 0.58.
  • Consensus revenue is 0.00, and the company reported no revenue in the second quarter or the year-earlier quarter.
  • Research and development expenses were USD 115,754 thousand against USD 60,153 thousand, with clinical studies adding USD 67.5 million.
  • Cash and cash equivalents were USD 125,750 thousand and short-term investments were USD 375,913 thousand at June 30, 2026.

Viking Therapeutics (NASDAQ:VKTX) reports third-quarter results on Wednesday, Oct. 28, after the market closes. Consensus stands at EPS of -1.06 on revenue of USD 0.00, and the company has a market capitalization of USD 3.08 billion.

Viking Therapeutics develops VK2735, with two Phase 3 studies of the subcutaneous formulation, VANQUISH-1 and VANQUISH-2, and a Phase 1 study of an oral formulation. Second-quarter operating expenses were USD 132,597 thousand against USD 74,574 thousand, and the net loss was USD 128,022 thousand against USD 65,561 thousand.

Estimates Against the Last Reported Quarter

The EPS estimate of negative 1.06 is above the second-quarter diluted EPS of negative 1.10, which compared with negative 0.58 a year earlier. The estimates table does not state its EPS basis. The revenue estimate is 0.00, consistent with no revenue reported in either period.

The net loss for six months was USD 286,347 thousand against USD 111,190 thousand. Diluted EPS for the quarter was negative 1.10, and the weighted average share count is reported in the filing. Interest income, net was USD 4,545 thousand against USD 9,033 thousand.

What the Filing Gives and What the Sources Leave Open

The sources supplied include no earnings call transcript or published guidance, so there are no management ranges to set against the estimates. The filing carries no third-quarter figures.

The filing states that enrollment in VANQUISH-1 was completed in November 2025 and in VANQUISH-2 in March 2026. It gives no revenue outlook and no numeric earnings range.

Expense Drivers and Clinical Spending

Research and development expenses were USD 115,754 thousand against USD 60,153 thousand. The filing attributes the increase to clinical studies of USD 67.5 million, salaries and benefits of USD 1.3 million, stock-based compensation of USD 1.1 million and third-party consultants of USD 0.5 million.

Offsetting decreases were USD 10.3 million in manufacturing of drug candidates and USD 4.7 million in preclinical studies. General and administrative expenses were USD 16,843 thousand against USD 14,421 thousand, up 16.8%.

Cash, Investments and Cash Use

Cash and cash equivalents were USD 125,750 thousand against USD 165,810 thousand at year end, and short-term investments were USD 375,913 thousand against USD 539,929 thousand. Total assets were USD 521,898 thousand against USD 715,729 thousand.

Net cash used in operating activities for six months was USD 239,148 thousand against USD 99,392 thousand. Stock-based compensation expense was USD 11,133 thousand against USD 13,547 thousand. Total operating expenses were USD 132,597 thousand against USD 74,574 thousand, and six-month research and development expenses were USD 265,904 thousand against USD 101,543 thousand. The estimates table lists a market capitalization of USD 3.08 billion.

Figures to Follow in the Release

Reported EPS against negative 1.06 is the headline comparison, as the company reports no revenue. Other markers are research and development expense, cash use and the VANQUISH studies.