Viking Therapeutics, Inc. (NASDAQ:VKTX) Q3 2018 Earnings Conference Call Transcript

Nov 07, 2018 • 04:30 pm ET


Viking Therapeutics, Inc. (NASDAQ:VKTX) Q3 2018 Earnings Conference Call Transcript


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Welcome to the Viking Therapeutics' 2018 Third Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode. Following management's prepared remarks, we will hold a Q&A session. (Operator Instructions) As a reminder, this conference call is being recorded today, November 7, 2018.

I'd now like to turn the conference over to Viking's Manager of Investor Relations, Stephanie Diaz. Please go ahead, Stephanie.

Stephanie Diaz

Hello and thank you all for participating in today's call. Joining me today is Brian Lian, Viking's President and CEO; and Michael Morneau, Vice President of Finance and Administration.

(Forward-Looking Cautionary Statements)

I'll now turn the call over to Brian Lian for his initial comments. Brian?

Brian Lian

Thanks, Stephanie, and thanks to everyone dialing in and listening on the webcast. Today, I'll be providing an update on recent progress and developments related to our pipeline programs and operations. The third quarter was a particularly exciting period for Viking, as both of our lead clinical programs achieved key milestones. During the quarter, we reported positive data from a Phase II trial of our novel thyroid receptor beta agonist VK2809 in patients with elevated LDL cholesterol and non-alcoholic fatty liver disease. This trial achieved both its primary and secondary endpoints, demonstrating statistically significant improvements in plasma lipids and liver fat content. We look forward to presenting these results at the upcoming meeting of the American Association for the Study of Liver Diseases.

Also during the quarter, the results from a previously completed Phase II study of our novel selective androgen receptor modulator VK5211 in patients recovering from hip fracture were presented at the oral plenary session of the Annual Meeting of the American Society for Bone and Mineral Research. We believe the selection of these data for this prestigious session highlights the potential of VK5211 in the fracture recovery setting.

In addition, in early October, the results from a study of VK2809 in an in vivo model of glycogen storage disease were highlighted during the oral plenary session of the Annual Meeting of the American Thyroid Association. These results highlighted further evidence of VK2809's beneficial effect on inflammation and fat metabolism, which we believe are relevant to a variety of liver diseases, including NASH.

Finally, we strengthened our balance sheet during the quarter through an offering of common stock, putting us on solid financial footing to further advance our pipeline programs. I'd like to begin today's call with a review of our third quarter financial results, after which, I will provide an update on our most recent corporate development.

I'll now turn the call over to Mike Morneau, Viking's Vice President of Finance and Administration to discuss our financial results. Mike?

Michael Morneau

Thanks, Brian. In conjunction with my comments, I'd like to recommend that participants refer to Viking's 10-Q filings with the Securities and Exchange Commission, which we expect to file later today for additional details.

I'll now go over the financial results for the third quarter and first nine months of 2018. Our research and development expenses