Viking Therapeutics, Inc.

Welcome to the Viking Therapeutics fourth quarter and full year 2025 financial results conference call. At this time, all participants will be in a listen-only mode. Following management's prepared remarks, we will hold a Q&A session. To ask a question at that time, please press star key, followed by the one on your telephone keypad. If anyone has difficulty hearing the conference, please press star, then zero for operator assistance. As a reminder, this conference call is being recorded today, February 11th, 2026. I would now like to turn the call over to Vikings Manager of Investor Relations, Ms. Stephanie Diaz. Please go ahead, Stephanie.

Hello, and thank you all for participating in today's call. Joining me today is Brian Land, 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, February 11, 2026, will contain forward-looking statements under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements about Vikings' 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 with 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 fourth quarter and full year ended December 31, 2025. and review recent progress with our development programs and operations. 2025 was another strong year for Viking, with the company achieving multiple important milestones with our expanding obesity pipeline. With the subcutaneous formulation of our lead molecule, VK2735, following the positive efficacy, safety, and tolerability data generated from our phase two venture study, Viking initiated its phase three Vanquish clinical program in obesity. The phase three vanquish program includes two studies. Vanquish one is evaluating the treatment of adults with obesity, and vanquish two is evaluating the treatment of adults with obesity and type two diabetes. In the fourth quarter, we announced completion of enrollment ahead of schedule in vanquish one. Enrollment in vanquish two is nearing completion. With respect to our oral VK2735 program, in the third quarter of last year, the company announced positive top-line results from the Phase II Venture Oral Dosing Study in patients with obesity. This trial successfully achieved its primary and secondary endpoints, with patients receiving VK2735 demonstrating statistically significant reductions in body weight compared with placebo. We recently completed an end-of-Phase II meeting with the FDA regarding next steps with the oral formulation and are excited to advance this program further into development. Other important milestones achieved during 2025 include the initiation of a maintenance dosing study with VK2735 to assess the effect of various maintenance regimens, including monthly subcutaneous dosing, daily oral dosing, or weekly oral dosing. Earlier in the year, Viking also signed a comprehensive manufacturing and supply agreement with Cordon Pharma to support the potential commercialization of VK2735. Under the terms of the agreement, Cordon Pharma will provide large-scale supply of active pharmaceutical ingredient, as well as fill and finish capacities for both our subcutaneous and oral formulations. We believe this agreement provides supply potentially sufficient to support a multibillion-dollar revenue opportunity. Also during the year, the company continued to add key staff in clinical, supply chain, and manufacturing roles, and we recently announced the appointment of Neil Abishan, as the company's Chief Commercial Officer. In this role, Neil will oversee the development and execution of our commercial strategy. I will have additional comments on our operations and development activities following a review of our financial results for the fourth quarter and year ended December 31st. For that, I'll turn the call over to Greg Zante, Vikings Chief Financial Officer.