Rohit Bhasin

Rohit Bhasin asked about the implications of Novo's oral Wegovy's strong early uptake for Viking's oral VK2735 program. He also inquired whether the current quarterly R&D spend should be considered a new norm for the company.

Answer

Brian Lian, President and CEO, stated that the rapid uptake of Novo's oral peptide is a positive indicator for all oral peptide developers. Greg Zante, CFO, clarified that the quarterly R&D spend is expected to fluctuate, likely ranging between $60 million and $90 million moving forward.

Rohit Bhasin asked about any read-throughs from the strong early uptake of Novo's oral Wegovy to Viking's oral VK2735 program. He also questioned if the reported quarterly R&D spend should be considered a new norm moving forward.

Answer

Viking Therapeutics' President and CEO, Brian Lian, noted that the rapid uptake of oral peptides, like Novo's oral Wegovy, bodes well for any company developing an oral peptide, indicating strong market interest. CFO Greg Zante indicated that quarterly R&D spend would likely range between $60 million and $90 million moving forward.

Rohit Bhasin asked about expectations for OpEx spend moving forward, specifically if R&D would continue to increase. He also asked if there are still plans to partner VK2809 given recent interest in the MASH space.

Answer

Greg Zante (CFO, Viking Therapeutics) stated that OpEx is up due to Phase 3 activities and expects this pace to continue. Brian Lian (President and CEO, Viking Therapeutics) confirmed an uptick in interest for the MASH asset (VK2809) due to renewed focus and recognition of value in the MASH space, similar to M&A in obesity.

Rohit Bhasin asked about expectations for OpEx spend moving forward, specifically if R&D would continue to increase, and if there are still plans to partner VK2809 given recent interest in the MASH space.

Answer

Greg Zante (CFO, Viking Therapeutics) confirmed that OpEx, particularly R&D, is expected to continue at higher levels due to phase three activities. Brian Lian (President and CEO, Viking Therapeutics) acknowledged increased investor and partner interest in the MASH space, confirming an uptick in interest for the VK2809 asset.

Rohit Bhasin, on behalf of Mike Ulz at Morgan Stanley, asked about new learnings from the evolving GLP-1 market and the potential impact on the outlook for Revita and Rejuva.

Answer

Harith Rajagopalan, Co-Founder, CEO & Director, highlighted two key trends: patients are now frequently asking when they can stop GLP-1 medications, and real-world data is showing lower effectiveness for these drugs than seen in clinical trials. He explained that these trends underscore the significant unmet need for a durable, disease-modifying therapy like Revita.

Rohit Bhasin, on for Mike Ulz, asked about the LIVMARLI patient mix between Alagille syndrome and PFIC in Q4, its expected evolution in 2025, and the status of expanded access PFIC patients.

Answer

CEO Chris Peetz confirmed that all U.S. expanded access PFIC patients were converted to commercial product by Q3 2024. He noted that while Alagille syndrome patients are the majority, PFIC patient starts have significantly increased since Q3, becoming a substantial contributor to new patient growth.