Jun 2026 (Q2 FY26) — Jul 29, 2026
Viking Therapeutics Q2 FY26 — Pipeline Advancement and Organizational Growth
Read the full callViking Therapeutics (VKTX) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Viking Therapeutics earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 0.00 | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | -128 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
7 of 8 judged targets kept · 7 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Initiate Phase I clinical dosing for amylin agonist (VK3019) | Probably, the first dosing would occur in the second quarter (Q2 2026) | Dec 2025 | Viking expanded its clinical stage obesity portfolio with the initiation of a Phase I single ascending dose trial of VK3019 | Achieved |
| Begin VANQUISH Phase III extension studies | Expected to begin in late 2026 or early 2027 | Jun 2026 | We believe the results from the maintenance study could serve to inform the selection of doses in the upcoming VANQUISH extension studies expected to begin in late 2026 or early 2027 | New |
| Amylin agonist program: file IND and initiate clinical development | Bring a compound into the clinic in 2025 (later refined to filing an IND in 2025, then specifically Q4 2025) | Sep 2024 | in the first quarter, we filed an IND with our novel amylin receptor agonist and pending clearance are on track to initiate the clinical development of this compound later this quarter | Delayed |
1 of Viking Therapeutics, Inc.'s 15 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 12 more targets are in the full ledger.
Claimed
- VK2735 subcutaneous Phase III VANQUISH program (VANQUISH-1 and VANQUISH-2) continued on track with both trials fully enrolled, including ~4,500 patients in VANQUISH-1 and ~1,000 patients in VANQUISH-2.
- Oral tablet formulation of VK2735 is preparing for Phase III initiation in Q4 2026, positioning it as a potential first oral dual GLP-1/GIP agonist to market.
- Initiated a Phase I single ascending dose trial for VK3019, a novel dual amylin and calcitonin receptor agonist, expanding the obesity pipeline.
- Cash, cash equivalents, and short-term investments totaled $502 million at June 30, 2026, providing runway into 2028.
- Strengthened internal infrastructure with key executive hires, including a Chief Medical Officer and a new Board Director.
Qualified
- Net loss increased to $128.1 million ($1.10 per share) for Q2 FY26, up from $65.6 million ($0.58 per share) in Q2 FY25, primarily due to increased R&D expenses.
- Cash, cash equivalents, and short-term investments decreased to $502 million at June 30, 2026, from $706 million at December 31, 2025, reflecting significant R&D spend.
Price
$25.05 −0.48% · −$0.12
Performance −25.3% 1Y
1Y: $33.53 on 17 Oct 2025 → $25.05. High $42.13 (7 Jul 2026), low $25.05 (19 Oct 2026).
- Previous close
- $25.17
- 52-week range
- $25.05 – $42.13
- One year
- −25.78%
Overview
- Symbol
- VKTX
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
7 of 8 judged targets kept · 7 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Initiate Phase I clinical dosing for amylin agonist (VK3019) | Probably, the first dosing would occur in the second quarter (Q2 2026) | Dec 2025 | Viking expanded its clinical stage obesity portfolio with the initiation of a Phase I single ascending dose trial of VK3019 | Achieved |
| Begin VANQUISH Phase III extension studies | Expected to begin in late 2026 or early 2027 | Jun 2026 | We believe the results from the maintenance study could serve to inform the selection of doses in the upcoming VANQUISH extension studies expected to begin in late 2026 or early 2027 | New |
| Amylin agonist program: file IND and initiate clinical development | Bring a compound into the clinic in 2025 (later refined to filing an IND in 2025, then specifically Q4 2025) | Sep 2024 | in the first quarter, we filed an IND with our novel amylin receptor agonist and pending clearance are on track to initiate the clinical development of this compound later this quarter | Delayed |
Claimed
- VK2735 subcutaneous Phase III VANQUISH program (VANQUISH-1 and VANQUISH-2) continued on track with both trials fully enrolled, including ~4,500 patients in VANQUISH-1 and ~1,000 patients in VANQUISH-2.
- Oral tablet formulation of VK2735 is preparing for Phase III initiation in Q4 2026, positioning it as a potential first oral dual GLP-1/GIP agonist to market.
- Initiated a Phase I single ascending dose trial for VK3019, a novel dual amylin and calcitonin receptor agonist, expanding the obesity pipeline.
- Cash, cash equivalents, and short-term investments totaled $502 million at June 30, 2026, providing runway into 2028.
- Strengthened internal infrastructure with key executive hires, including a Chief Medical Officer and a new Board Director.
Qualified
- Net loss increased to $128.1 million ($1.10 per share) for Q2 FY26, up from $65.6 million ($0.58 per share) in Q2 FY25, primarily due to increased R&D expenses.
- Cash, cash equivalents, and short-term investments decreased to $502 million at June 30, 2026, from $706 million at December 31, 2025, reflecting significant R&D spend.
The full ledger
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Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Viking Therapeutics Q1 FY26 — Pipeline Advancements and Oral Program Expansion
Read the full callEvery analysed call
Viking Therapeutics earnings calls (VKTX)
Financials
What the filings say
Net profit, year on year: −95% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating profit | -37 | -46 | -55 | -75 | -99 | -165 | -164 | -133 |
| Net profit | -25 | -35 | -46 | -66 | -91 | -158 | -158 | -128 |
| EPS ($ per share) | -0.22 | — | -0.41 | -0.58 | -0.81 | — | -1.37 | -1.10 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | -103 | -129 | -168 | -223 | -292 | -378 | -488 | -848 |
| Total liabilities | 5 | 7 | 12 | 9 | 23 | 20 | 28 | 77 |
| Total assets | 302 | 284 | 257 | 211 | 169 | 368 | 908 | 716 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -19 | -25 | -22 | -48 | -48 | -73 | -88 | -279 |
| Cash from investing | -266 | 7 | 42 | 38 | 55 | -179 | -553 | 341 |
| Cash from financing | 300 | 1 | 1 | 7 | 4 | 271 | 612 | 76 |
| Net cash flow | 16 | -16 | 21 | -3 | 11 | — | — | — |
Insider filings
43 filings between Oct 27, 2025 and Aug 1, 2026.
Open market
decisions to buy or sellPurchases
$149.9K
1 purchase by 1 insider
Sales
$22.25M
20 sales by 5 insiders
Compensation
not trading decisions- 21
- Award — granted as compensation
- 1
- Option exercise — converted options into shares
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Lian Brian | — | $14.00M | Jul 29, 2026 |
| ZANTE GREG | — | $2.82M | Jul 29, 2026 |
| Mancini Marianna | — | $2.73M | Jul 29, 2026 |
| Rowland Charles A Jr | — | $2.13M | Oct 27, 2025 |
| FOEHR MATTHEW W | — | $561.7K | Jan 2, 2026 |
| Aubuchon Neil William | $149.9K | — | Mar 10, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 1, 2026 | Kelly-Gemmell Dorothy Elizabeth Director | Award | 6,333 | $0 |
| Jul 29, 2026 | Lian Brian President & CEO | Sale | 148,517 | $4.95M |
| Jul 29, 2026 | ZANTE GREG Chief Financial Officer | Sale | 21,217 | $710.1K |
| Jul 29, 2026 | Mancini Marianna Chief Operating Officer | Sale | 18,217 | $609.6K |
| Jul 28, 2026 | ZANTE GREG Chief Financial Officer | Award | 31,667 | $0 |
| Jul 28, 2026 | Mancini Marianna Chief Operating Officer | Award | 31,667 | $0 |
| Jul 28, 2026 | Lian Brian President & CEO | Award | 221,667 | $0 |
| Mar 10, 2026 | Aubuchon Neil William Chief Commercial Officer | Purchase | 4,475 | $149.9K |
| Jan 5, 2026 | ZANTE GREG Chief Financial Officer | Sale | 1,500 | $48.1K |
| Jan 5, 2026 | Lian Brian President & CEO | Sale | 132,454 | $4.28M |
| Jan 5, 2026 | Lian Brian President & CEO | Sale | 53,279 | $1.78M |
| Jan 5, 2026 | Lian Brian President & CEO | Sale | 6,400 | $224.4K |
| Jan 5, 2026 | Lian Brian President & CEO | Sale | 41,276 | $1.41M |
| Jan 5, 2026 | Mancini Marianna Chief Operating Officer | Sale | 31,961 | $1.03M |
| Jan 5, 2026 | Mancini Marianna Chief Operating Officer | Sale | 13,600 | $453.9K |
| Jan 5, 2026 | Mancini Marianna Chief Operating Officer | Sale | 10,500 | $359.3K |
| Jan 5, 2026 | Mancini Marianna Chief Operating Officer | Sale | 1,600 | $56.1K |
| Jan 5, 2026 | ZANTE GREG Chief Financial Officer | Sale | 31,961 | $1.03M |
| Jan 5, 2026 | ZANTE GREG Chief Financial Officer | Sale | 13,900 | $464.0K |
| Jan 5, 2026 | ZANTE GREG Chief Financial Officer | Sale | 10,300 | $352.6K |
| Jan 2, 2026 | FOEHR MATTHEW W Director | Sale | 16,000 | $561.7K |
| Jan 2, 2026 | Rouan Sarah Kathryn Director | Award | 3,150 | $0 |
| Jan 2, 2026 | FOEHR MATTHEW W Director | Option exercise | 16,000 | $53.3K |
| Jan 2, 2026 | FOEHR MATTHEW W Director | Award | 3,150 | $0 |
| Jan 2, 2026 | Rowland Charles A Jr Director | Award | 3,150 | $0 |
| Jan 2, 2026 | MACARTNEY LAWSON Director | Award | 3,150 | $0 |
| Jan 2, 2026 | SINGLETON J MATTHEW Director | Award | 3,150 | $0 |
| Jan 2, 2026 | Lian Brian President & CEO | Award | 78,400 | $0 |
| Jan 2, 2026 | Lian Brian President & CEO | Award | 224,080 | $0 |
| Jan 2, 2026 | Mancini Marianna Chief Operating Officer | Award | 41,000 | $0 |
| Jan 2, 2026 | Mancini Marianna Chief Operating Officer | Award | 32,049 | $0 |
| Jan 2, 2026 | ZANTE GREG Chief Financial Officer | Award | 41,000 | $0 |
| Jan 2, 2026 | ZANTE GREG Chief Financial Officer | Award | 32,049 | $0 |
| Oct 28, 2025 | Lian Brian President & CEO | Sale | 38,989 | $1.36M |
| Oct 28, 2025 | ZANTE GREG Chief Financial Officer | Sale | 6,185 | $216.5K |
| Oct 28, 2025 | Mancini Marianna Chief Operating Officer | Sale | 6,185 | $216.5K |
| Oct 27, 2025 | Rowland Charles A Jr Director | Award | 22,000 | $127.6K |
| Oct 27, 2025 | Rowland Charles A Jr Director | Award | 22,000 | $107.4K |
| Oct 27, 2025 | Rowland Charles A Jr Director | Sale | 60,000 | $2.13M |
| Oct 27, 2025 | Mancini Marianna Chief Operating Officer | Award | 11,117 | $0 |
| Oct 27, 2025 | ZANTE GREG Chief Financial Officer | Award | 11,117 | $0 |
| Oct 27, 2025 | Lian Brian President & CEO | Award | 70,084 | $0 |
| Oct 27, 2025 | Rowland Charles A Jr Director | Award | 16,000 | $71.7K |
| Jul 3, 2025 | ZANTE GREG Chief Financial Officer | Sale | 4,266 | $118.4K |
| Jul 3, 2025 | Mancini Marianna Chief Operating Officer | Sale | 4,266 | $118.5K |
| Jul 3, 2025 | Lian Brian President & CEO | Sale | 26,889 | $747.6K |
| Jul 2, 2025 | Mancini Marianna Chief Operating Officer | Award | 7,667 | $0 |
| Jul 2, 2025 | ZANTE GREG Chief Financial Officer | Award | 7,667 | $0 |
| Jul 2, 2025 | Lian Brian President & CEO | Award | 48,333 | $0 |
| Apr 11, 2025 | FOEHR MATTHEW W Director | Option exercise | 20,786 | $166.3K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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