Viking Therapeutics, Inc. (VKTX) saw its loss narrow to $3.64 million, or $0.18 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $5.09 million, or $0.56 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $3.74 million, compared with an operating loss of $4.62 million in the previous year period.
"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.
Working capital drops significantly
Viking Therapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $7.50 million as at Dec. 31, 2016, down 43.30 percent or $5.73 million from $13.22 million on Dec. 31, 2015. Current ratio was at 2.16 as on Dec. 31, 2016, down from 7.69 on Dec. 31, 2015.
Debt comes down
Viking Therapeutics, Inc. has recorded a decline in total debt over the last one year. It stood at $4 million as on Dec. 31, 2016, down 11.54 percent or $0.52 million from $4.52 million on Dec. 31, 2015. Short-term debt stood at $4 million as on Dec. 31, 2016. Total debt was 27.52 percent of total assets as on Dec. 31, 2016, compared with 29.29 percent on Dec. 31, 2015. Debt to equity ratio was at 0.50 as on Dec. 31, 2016, down from 0.52 as on Dec. 31, 2015.
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