10/28/2026

speaker
Conference Operator
Operator

Welcome to the Viking Therapeutics Third Quarter 2026 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. To ask a question at that time, please press the star key followed by 1 on your touch-tone phone. If anyone has any difficulty hearing the conference, please press star 0 for operator assistance. As a reminder, this conference call is being recorded today, October 28, 2026. I would now like to turn the conference over to Vikings Manager of Investor Relations, Stephanie Diaz. Please go ahead, Stephanie.

speaker
Stephanie Diaz
Manager of Investor Relations, Viking Therapeutics

Hello, and thank you all for participating in today's call. Joining me today is Brian Lian, Vikings President and CEO, Greg Zante, Vikings CFO, and Hubert Chen, Vikings Chief Medical Officer. Before we begin, I'd like to caution that comments made during this conference call today, October 28, 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 forwarding 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 Lian for his initial comments.

speaker
Brian Lian
President and Chief Executive Officer, Viking Therapeutics

Thanks, Stephanie. And good afternoon to everyone listening in by phone or on the webcast. Today we'll review our financial results for the third quarter and nine months ended September 30th, 2026, and review recent updates across our pipeline programs and organization. During the third quarter, we made important progress across multiple pipeline programs and announced positive results from an innovative maintenance dosing study in our obesity program. With respect to our lead compound, DK2735, a dual agonist of the GLP-1 and GIP receptors, Viking's Phase III Vanquish Clinical Program continued to proceed according to plan. The Vanquish Program is evaluating the subcutaneous formulation of VK2735 in two studies, Vanquish 1 in adults with obesity and Vanquish 2 in adults with obesity and type 2 diabetes. Both trials are fully enrolled and during the third quarter, both continue to advance toward completion. In addition, during the third quarter, The company made significant progress with its oral VK2735 program and earlier this month we announced the initiation of the Sunrise Phase 3 Registration Program. As with the Vanquish Program for subcutaneous VK2735, the Sunrise Phase 3 Program consists of two studies, one evaluating the treatment of adults with obesity and the other evaluating adults with obesity and type 2 diabetes. We are very happy to have these important studies underway and I will provide more details on them in a few minutes. During the quarter, we also announced positive data from our novel VK2735 maintenance dosing study. Part one of this study was focused on our subcutaneous formulation and demonstrated an exciting signal that indicates the potential for novel dosing strategies to manage weight loss long term with lower and less frequent dosing regimens. In this study, participants receiving VK2735 successfully maintained the majority of their initial weight loss Following the transition to every other week or monthly dosing schedules. As a follow-up, we recently announced the initiation of a second part to this study to evaluate the maintenance potential of our oral formulation along with additional subcutaneous regimens. Beyond VK2735, during the third quarter, Viking continued to advance its amylin receptor agonist, VK3019, in a Phase I single ascending dose study. We expect to complete this study by year-end and plan to proceed to a multiple ascending dose study in the first quarter of 2027. Finally, during the third quarter, Viking successfully closed concurrent, upsized offerings of common stock and convertible notes, raising gross proceeds of approximately $575 million. These funds substantially increase our financial runway and will support the ongoing development of all programs, as well as the company's growing commercial operations and launch plans. I'll have additional comments following a review of our financial results for the third quarter and nine months ended September 30th. For that, I'll turn the call over to Greg Zante, Vikings Chief Financial Officer.

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