A month has gone by since the last earnings report for Viking Therapeutics, Inc. (VKTX). Shares have added about 3.2% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Viking Therapeutics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.
Misses Q1 Earnings on Higher Development Costs
Viking posted a first-quarter 2026 loss of $1.37 per share, wider than the Zacks Consensus Estimate of a loss of 95 cents. The company had incurred a loss of 41 cents in the year-ago quarter.
Currently, Viking Therapeutics does not have any approved products in its portfolio. It has yet to generate revenues.
R&D Surge Drives the Quarterly Miss
Research and development (R&D) expenses surged to $150.2 million in the first quarter of 2026 from $41.4 million a year ago. Management attributed the increase primarily to higher spending tied to clinical studies, manufacturing for drug candidates, consultants, salaries and benefits, and preclinical work.
The stepped-up R&D cadence aligns with the company’s effort to run multiple large studies in parallel, including its ongoing phase III program for VK2735 SC. Viking Therapeutics is planning to move the oral version of the drug into late-stage development later in 2026.
Viking’s G&A Holds Steady as the Team Expands
General and administrative (G&A) expenses were $14.0 million compared with $14.1 million in the year-ago quarter. Management cited lower costs related to legal and patent services and stock-based compensation, partially offset by higher spending on consulting, salaries and benefits, and scientific and disease education.
Even with G&A largely stable, Viking continues to build operational capability around its obesity opportunity. During the quarter, the company announced the appointment of Neil Aubuchon as its first chief commercial officer, adding commercial leadership as VK2735 advances toward potential registration milestones.
VKTX Ends Q1 With $603 Million and Funds Phase III Execution
Viking ended the quarter with $603.0 million in cash, cash equivalents and short-term investments, down from $706 million at the end of 2025. The decline reflects the elevated cost of sustaining late-stage studies and supporting broader development activity across the pipeline.
Management addressed the cadence of spending and cash usage. On theearnings call the company indicated that next quarter’s expense and cash usage could be around the first-quarter level, potentially modestly lower. Spending is expectedto taper somewhat in the second half of the year as the company continues to manage its balance sheet alongside clinical and operational expansion.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -29.59% due to these changes.
VGM Scores
At this time, Viking Therapeutics has a poor Growth Score of F, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock has a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Viking Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
