Exhibit 99.1

 

Viking Therapeutics Reports Fourth Quarter and Year-End 2016 Financial Results and Provides Corporate Update

 

 

 

VK5211 Phase 2 study in hip fracture proceeding, with results expected mid-year

 

 

VK2809 Phase 2 study in hypercholesterolemia and fatty liver disease proceeding, with results expected in late 2017

 

 

New program initiated to evaluate VK2809 in patients with glycogen storage disease type Ia (GSD Ia)

 

 

SAN DIEGO, March 21, 2017 -- Viking Therapeutics, Inc. ("Viking") (NASDAQ: VKTX), a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders, today announced its financial results for the fourth quarter and year ended December 31, 2016, and provided an update on its clinical pipeline and other corporate developments.

 

Highlights from, and Subsequent to, the Quarter Ended December 31, 2016

 

“We made excellent progress with multiple pipeline programs in 2016.  We continued enrolling patients into the Phase 2 trial of our selective androgen receptor modulator VK5211 for hip fracture, initiated a Phase 2 trial with our novel thyroid receptor beta agonist VK2809 in fatty liver disease and hypercholesterolemia, began planning for a proof-of-concept trial with VK2809 in GSD Ia, a new orphan indication, and reported positive proof-of-concept data from our second thyroid receptor agonist, VK0214, in an in vivo model of the orphan disease X-linked adrenoleukodystrophy.  We expect this momentum to continue in 2017 as we plan to announce the results from the hip fracture study mid-year, followed later in the year by the results from the fatty liver and hypercholesterolemia trial.  Each of these events will mark a key milestone for the company, providing clinical data in indications that each represent significant potential revenue opportunities,” stated Brian Lian, Ph.D., chief executive officer of Viking.  “We are also continuing our strategic partnerships with the Kennedy Krieger Institute and Duke University, which together provide valuable support as we work to advance our two orphan programs into clinical development.  We believe VK2809 in GSD Ia and VK0214 in X-ALD each represent important opportunities to apply our novel science to areas of high unmet medical need.  Finally, we were able to accomplish all of this while maintaining a lean operating model, ending the year with a strong cash position at over $13 million, and retaining access to approximately $14 million in additional funding through our current equity line and ATM program.”

 

 


The following information was filed by Viking Therapeutics, Inc. (VKTX) on Tuesday, March 21, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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