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4/23/2025
As a reminder, this conference call is being recorded today, April 23rd, 2025. I would now like to turn the conference over to Vikings Manager of Investor Relations, Stephanie Diaz. Please go ahead, Stephanie.
Hello, and thank you for participating in today's call. Joining me today is Brian Lynn, Vikings President and CEO, and Greg Zanti, Vikings CFO. Before we begin, I'd like to caution that comments made during this conference call today, April 23rd, 2025, will contain forward-looking statements under the Safe Harbor provisions of the U.S. Securities Litigation Reform Act of 1995, including statements about Viking's expectations regarding its development activities, timelines, and milestones. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and adversely and reported results should not be considered as an indication of future performance. These forward-looking statements speak only as of today's date, 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 for the Securities and Exchange Commission concerning these and other matters. I'll now turn the call over to Brian Land for his initial comments.
Thanks, Stephanie, and good afternoon to everyone listening in by phone or on the webcast. Today we'll review our financial results for the first quarter ended March 31st, 2025, and provide an update on recent progress with our development programs and operations. In the first quarter of 2025, Viking continued to build upon the strong momentum achieved in 2024. In the past year, we announced positive data from four separate clinical programs, including our VK2735 subcutaneous program for obesity, our VK2735 oral tablet program for obesity, our VK2809 program for the treatment of MASH and fibrosis, and our VK0214 program for X-linked adrenal leukodystrophy. By any measure, 2024 was our most productive year to date, and this positive momentum has continued into 2025. During the first quarter, The company made great progress toward the initiation of Phase III trials for our subcutaneous VK2735 program, and we expect to commence these studies later this quarter. The company also announced the initiation of a Phase II trial evaluating the tablet formulation of VK2735 in subjects with obesity. Later in the first quarter, we announced the completion of enrollment in this trial. We believe this study's rapid enrollment reflects continued enthusiasm for our obesity program, and we look forward to announcing the results of the study later this year. Also during the first quarter, Viking entered into a long-term, large-scale manufacturing agreement to support the future commercialization of VK2735 in obesity. The agreement provides for both API and fill and finish activities, which we believe will be sufficient to support a potential multi-billion dollar annual product opportunity. During the quarter, the company also made progress with its newest program, evaluating a series of internally developed agonists of the amylin receptor, which have demonstrated improvements in body weight and metabolic profile in in vivo models. I'll have additional comments on our operations and development activities following a review of our first quarter financial results. For that, I'll turn the call over to Greg Zante, Vikings Chief Financial Officer.
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