Viking Therapeutics, Inc. (NASDAQ:VKTX) Q2 2020 Earnings Conference Call - Final Transcript

Jul 29, 2020 • 04:30 pm ET


Viking Therapeutics, Inc. (NASDAQ:VKTX) Q2 2020 Earnings Conference Call - Final Transcript


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Welcome to the Viking Therapeutic 2020 Second 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, July 29, 2020. I would 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 Greg Zante, Senior Vice President of Finance.

Before we begin, I'd like to caution that comments made during this conference call today, July 29, 2020, will contain forward-looking statements within the meaning of the Securities Act of 1933, concerning the current beliefs of the company, which involve a number of assumptions, risks, and uncertainties.

Actual results could differ from these statements and the company undertakes no obligation to revise or update any statement made today. I encourage you to review all of the company's filings with the Securities and Exchange Commission concerning these and other matters.

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

Brian W. Lian

Thanks, Stephanie, and thanks to everyone listening on the webcast or by phone. Today, we'll provide an overview of our second quarter 2020 financial results, as well as an update on recent progress and developments related to our pipeline of programs and operations.

I'll begin by reviewing the status of our ongoing Phase 2B VOYAGE trial study. As a reminder, this trial is evaluating our small molecule thyroid hormone beta receptor agonists, VK2809 in patients with biopsy confirmed non-alcoholic steatohepatitis and fibrosis.

Enrollment in the trial continues and despite the ongoing pandemic more sites are open today for patient screening and enrollment, and fewer sites are reporting operational disruptions compared with two months ago. We currently anticipate completion of enrollment in this study in the first half of 2021. I'll provide more color on VOYAGE in a few minutes.

During the quarter, we also made great progress with our second small molecule thyroid receptor beta agonist, VK0214, which we're developing as a potential treatment for X-linked adrenoleukodystrophy. We're pleased to report that we recently filed an IND with the FDA to initiate the first in human studies of this important molecule. We plan to initiate these studies following clearance of the IND.

I'll provide additional detail on our development activities after we review our second quarter financial results. For that, I'll turn the call over to Greg Zante, Viking's Senior Vice President of Finance. Greg?

Greg Zante

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

I will now go over our financial results for the second quarter and for six months ended June 30, 2020. I will first go over the second quarter results.

Our research and