Viking Therapeutics shares declined 18.6% in July as investors focused on the company's cash needs for its weight-loss drug trials. The company reported second-quarter earnings, confirming that phase 3 trials for its injectable weight-loss drug VK2735 are fully enrolled and on track, and that oral VK2735 phase 3 trials are expected to begin in the fourth quarter. However, cash usage was about $96 million in the quarter, and cash and equivalents fell to $502 million from $706 million at the end of 2025. Viking also filed with the SEC to offer up to $500 million in common stock and other securities, raising dilution concerns. Management stated it has cash into 2028, but the filing suggests a capital raise is likely before major catalysts.
Viking Therapeutics IncCash burn and potential capital raise raise dilution concerns
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