Viking Therapeutics (VKTX) 28 Apr 222022 Q1 Earnings call transcript

Good day and welcome to the Viking Therapeutics 2022 First Quarter Financial Results Conference Call. [Operator instructions].

As a reminder, this conference call is being recorded today, April 27, 2022. I would now like to turn the conference over to Viking’s Manager of Investor Relations, Stephanie Diaz. Please go ahead, Stephanie.

all in you call. thank and for today’s participating Hello,

President Brian and Joining is Viking’s and me today CFO. Lian, CEO; Viking’s Greg Zante,

we and Securities April Viking’s development to this Before safe statements harbor forward-looking like about comments the the milestones. Act I’d during U.S. activities, of of made including Private statements caution under its conference Reform XXXX, time expectations XX, that today, regarding provisions lines, will Litigation contain call begin, XXXX,

risks any and to statements to of that could adversely Forward-looking reported date, results subject statements These not speak indication uncertainties to cause comments. actual of his today’s as encourage today. and the filings differ now and update forward-looking are statement as future performance. call concerning an and the the Exchange materially only company’s be I’ll to company no made results review should for the considered of and Brian undertakes obligation you initial Securities and these turn over with Commission revise I all matters. to other or Lian

progress update phone recent thanks quarter, financial by we’ll an dialed and in review on our with XXXX and listening programs operations. Stephanie. And provide webcast. Thanks our the and everyone first developments pipeline or results Today, on

initiation variety our disorders. peptide could receptors. exciting with During and VKXXXX metabolic endocrine and of an first with newest the VKXXXX, We novel glucagon-like polypeptide a quarter, clinical X development we utility we programs, targeting development clinical insulinotropic the program metabolic diseases. the in expansion have agonist glucose-dependent a pipeline dual our pipeline and of believe announced our of of announced made January, existing additional progress In

with objects Phase X this We are in a currently compound. dosing study

beta program, clinical thyroid selective to continues lead Our advance. agonist VKXXXX, receptor also the

NASH year. enrollment half in to confirmed in fibrosis We Phase this study VOYAGE expect in biopsy second of and the the complete and Xb patients study with are enrolling the

support a X-linked to VKXXXX of second preclinical quarter, of initiated disease. our beta first neurodegenerative also we the During novel adrenoleukodystrophy, continued thyroid rare the study treatment the agonist the receptor development for

submit on to the discussed a first continued FDA the study call, in and we initiated agency this quarter We during an quarter detail study in prior year. quarter genotoxicity to Phase first the activities results expect the the As quarterly in Xb patients. review our genotoxicity development on second our after vivo the provide in study operations to I’ll and last financial dosing of our results. requested further

the over Greg turn I’ll Financial that, call to Officer. For Viking’s, Zante, Chief

my filing that with Viking’s like file participants Securities expect I’ll Form recommend week. to the ended Commission, and which XX, to quarter first conjunction I’d XXXX. for In comments, to over March our we Brian. financial this results go refer XX-Q Thanks, with now the Exchange

studies. months drug $XX.X the consultants period to clinical increased related services partially decreased The to in development due expenses Our the XX, for third-party compensation, compared for a $XX.X manufacturing million and XXXX provided million by offset three XXXX. preclinical expense related by benefits, for increase candidates, primarily were company’s and expenses stock-based research and salaries to studies, March to ended the same was

legal XXXX. related Our to to due general compared the compensation $X.X million services. million the three expenses March primarily XX, period were same increased expenses XXXX months to and administrative ended for in for increase $X.X stock-based The and was

per reported the period share, to or of research million, of to XX, and XXXX. to previously, XXXX expenses, for same and the was the noted compared in net a net For share, primarily compared loss in months XXXX. and The ended of $X.XX $XX net million, $XX.X increase administrative months or loss general ended XX, loss XXXX, increase per $X.XX corresponding three the expenses net per loss Viking period in three in a March the development due and share March

Turning totaling financial Brian. $XXX.X concludes million, equivalents call investments back and to Viking over short-term I’ll now XX, XXXX, cash, XX, to XXXX. review. cash to And the At This sheet. million compared my March as turn $XXX.X held balance the of December

Greg. Thanks

exciting The Viking. of has quarter first XXXX been time an at

treatment addition in become our NASH and update compound VOYAGE a represents evaluated serious provide announced of In in metabolic to program also first new diseases. and first-in-class is at an Xb metabolic actively currently development study fibrosis. believe the VKXXXX; VKXXXX, the with Viking, VKXXXX. we each underdevelopment to like initiation best-in-class program, patients which disorders a continued has progress This to clinical with our clinical targeting clinical our I’d program for Phase a the we NASH opportunity third in being novel on lead or program, lead called with

a liver reductions milligram endpoints included and its that of as trial positive orally XX% results weeks, Phase well least content as showing XX-week at achieved X patients receiving As demonstrating and receiving with data hormone liver available a trial small announced from agonist primary to plasma all in the We lipids. XX and VKXXXX daily thyroid trial fat both of experienced fatty hypercholesterolemia Phase five the selected beta an Xa Key molecule the liver including for is XX% VKXXXX of patients reminder, reduction potent is fat This receptor. secondary results doses. that of the non-alcoholic thyroid receptor hormone previously liver from tissue in in VKXXXX disease. isoform patients

durable responders as increase profile improved The atherogenic represents Patients GI drugs treated receiving improvement nausea patients such of of and are diarrhea to reported shown importance point majority the This results remaining completion weeks the as the reductions with in compared patients other disturbances, treated differentiation demonstrated lower lead lowering triglycerides, study, In promising with LDL safety significant tolerability effects rates that such that and those plasma experienced risk. mechanisms than have benefits. and in reported study been or after when fat plasma were VKXXXX of VKXXXX. and of cardiovascular development particular lipids, as receiving liver experienced also in potentially among and Patients of VKXXXX’s lipid placebo. cholesterol, a addition, with XX-week patients proteins. profile These to VKXXXX cardiovascular four with lipids may dosing. also VKXXXX

In this patients addition, study. in no any reported adverse in serious events were

as VKXXXX with initiated the liver least double-blind The these biopsy the study endpoint and week-XX fibrosis. Phase also to results, MRI-PDFF Xb proton Following patients provided patients VOYAGE from change Up patients this possess treated the to confirmed and of fat evaluate FX the baseline may will evaluate fraction, risk designed patients in to with compared X% assess as multicenter imaging, VKXXXX, fat efficacy, one resonance by NASH to as have tolerability as FX is well we FX VKXXXX and least in XX% randomized factor. trial at called includes patients fat patients in receiving magnetic target fibrosis with liver study primary We NASH. a of at trial and additional with population to safety fibrosis. of in assessed it The density that they placebo-controlled content by placebo.

by evaluation biopsy XX-weeks changes Secondary of assessed histologic after of objectives treatment. include the hepatic

quarter first sites the and at the in enrollment the continued During abroad. VOYAGE study, U.S. in

in study this in the second XXXX. enrollment complete to expect half of We

an In quarter, toward compound. second work for Moving the to we program this VKXXXX. addressing clinical first request data additional FDA our for preclinical

thyroid like a VKXXXX available small is agonist. beta hormone molecule an orally receptor VKXXXX, reminder As

no adrenoleukodystrophy in as of ABCDX, is cells. for is fatal for X-ALD the there known characterized often breakdown disease which brain of by is by peroxisomal this in developing rare treatment metabolic gene encodes very acids. nerve We’re X-ALD. protective barriers and compound caused X-linked long-chain The FDA-approved fatty transporter mutations surrounding or a a disorder a which a the and therapeutic

impaired is known the with are of very and to Multiple very achieved As these as shown an progression hormone long-chain beta transporter ABCDX regulating clinical acid and potential the fatty expression improved metabolize, metabolism fatty The The expression. result patients treatment have ABCDX. resulting and acid long-chain encoded to in by to fatty can VKXXXX played increasing efficiently models by a compounds normalized the by and receptor mutations, acids. thyroid function based X-ALD important very the gene of of a potentially transporter of as on for alternative long-chain promise that signs accumulation believed symptoms role of X-ALD. is a in onset unable contribute patients be is

at of cholesterol, is Many treatment adrenomyeloneuropathy not demonstrate XXX VKXXXX the XX% LDL was lipid and The reductions the success leg Based encouraging observed in those milligrams X-ALD dose no of Clinical a Phase of safety, though the evaluated. demonstrated form reductions assessments. for disease. the results, VKXXXX, of study, once such the tolerability milligrams beta days. daily X pharmacokinetic multi-center treatment enrolled in affecting objectives manifestations daily disservices B, is of half we the safe orally progressive this with data. administered of in preliminary form tolerability include even A. of top gastrointestinal all once with AMN After these a tolerated safety in incontinence, observed the led statistical In reported As of hormone No the VKXXXX potential placebo-controlled review lipoprotein ascending placebo no dependent randomized Xb of receptor. XX it is results powered to Enrollment In life events who study with planned daily Phase double-blind believe diarrhea single achieved may in or a evidence no daily. we signals related randomized, received and with Phase a the a the XXXX, and and VKXXXX XX anticipated and dysfunction. therapeutic were thyroid measures. triglycerides, X-ALD. exposures, ascending Pending and represent VKXXXX dose approximately among milligrams up Xb sexual and a most at well cardiovascular We in three be with vital patients patients the This tolerability, of healthy statistical study with cohorts, of apolipoprotein X-ALD. weakness, XX male is volunteers. of adult dosing. shown of blinded were across or were VKXXXX study common AMN, pharmacokinetics XX initiated daily, potent VKXXXX doses a was of initially agonist also experienced doses signs on and consistent safety, to VKXXXX laboratory trial than subjects which of AMN. reported double-blind the and also nausea study subjects or the XXX placebo-controlled to as treatment dose adverse days reported study study. this serious dose for significance to evaluate we multiple study, significance study more the and for The accumulation or Treatment on

or than any to of trial, evaluate to AMN a ongoing Phase are this of also from cohorts of we be of XX well request requested safety informed may was once the the trial January, trial hold primary objectives not dosing plasma rather to of the announced our study as acids, previously days. to exploratory by completed study fatty an FDA, FDA preclinical due daily of includes of Additional considers additional it pharmacokinetics The patients. patients orally study Xb. to of prior the the placed studies. that assessment be us of completion administered VKXXXX the and pursued. for impact tolerability Rather on in In a the ongoing that on the very an had continued agency long-chain Phase dosing findings VKXXXX these an been as levels evaluation The clinical X VKXXXX patients,

a X to As prior trial requires that guidance be a genotoxicity study completed regulatory initiation. Phase rodent

we required the quarter, work first FDA's initiated request. to satisfy the During the

in information is of has now result obesity These clinical of GLP-X, two requested our data as posters the in insulinotropic the goal posters treated observed the a Last dual VKXXXX. believe metabolic society. the we potential with agonists quarter improvements Target at among a of first an and program. We X with year. VKXXXX peptide ObesityWeek, in this the compound presented the control in provide meeting profile of study range compared the to compounds submit an on program to expect stage annual our disorders. highlighted dosing from GIP glucagon-like cohorts. internal in diet-induced a the obese I'll of November, update second metabolic the or VKXXXX this polypeptide resuming applications We receptors. mice later or third glucose-dependent the

observed were reductions of same the for larger sensitivity, agonists the same weight our The Specifically treatment time. loss, the following compared control, were insulin animals at of and with to glucose receptor with compounds in treated activity suggest animals this fat clinical content effects of announced period series, reductions the liver initiation all the GLP-X the semaglutide, GLP-X following the addition from observed dose activation lead generally improves when treatment among effects VKXXXX. relative enhanced receptor observed that treated semaglutide. liver mono-agonist administered with dual among the upon with with fat we results January, In of achieved the to These our GIP through alone. development compound

four body evaluate is in after primary and trial dose of multiple multiple the of objectives administration. identification study subcutaneously single as of doses. development. clinical and randomized, trial well delivers of weeks the ascending, doses evaluations of pharmacodynamic changes weight adults. an of include evaluation in doses and as will Exploratory and The ascending X fat Phase assessments safety weekly also Our liver pharmacokinetics study following The suitable content, placebo-controlled, double-blind, VKXXXX VKXXXX, of for multiple tolerability once healthy further the of include the single and single

data second in to report this expect We the of year. half from the initial study the

Finally, report expanding to I'm development our pipeline, that remains happy strong. financial even our position clinical while

As this the quarters. beyond believe in a expected important extending data ongoing an we from we to provides runway of million the In programs. ended XXXX cash, coming the we our quarter and readouts each conclusion, earlier, Greg clinical several looking in with anticipate year and productive noted are pipeline milestones forward $XXX well operating

expect the to And are half VKXXXX developed in of our to VKXXXX the Phase this with to program, dual treatment with soon goal is a the an Our hold later agency's the excited applications enrollment fibrosis. as in move year. lead forward disorders. the the we to be of expect for continues activation we finally, submit in quarter, clinical FDA. study of resuming and of by advancing VOYAGE program, we a we working in second very letter GLP-X receptors of With targeting dosing second possible complete the study a with our internally stage patients the And thereafter. And Xb requested adrenoleukodystrophy, range X-linked VKXXXX response NASH clinical are GIP newest complete metabolic to currently VKXXXX. pre-clinical as and compound to potential program

results forward our lead data suggests reporting with the later our profile. the to it best-in-class that this Phase trial VKXXXX will ongoing may As programs, early possess for we initial look And from X year.

cash of our each $XXX Thanks questions. and manage the balance first today. our stage provide now open the to to Operator? later to And prepared concludes development. ending into expect continue we call our we’ll Importantly, of again for million runway carefully This us. quarter comments for advance our for clinical programs joining

will Thank go Please ahead. you. from [Operator Jay with come the And Oppenheimer. question first Instructions] Olson

expectations can competitors thanks look that then from at Hey, about for, for on a coming potential the your of year all update I Anything, VKXXXX if this Phase EASL and year, any for I and the to either follow thinking or up later your and across with how comment and then any results Madrigal’s trial progress. to you separately, you're watching this expecting out up on had just should you're that read be X MAESTRO-NASH congrats for we Viking could.

Thanks, Jay. Sure.

So data at think from be conference year, the the the I from some compound, think Madrigal EASL there I study. NAFLD this will

will reading probably will the I be that But conference compounds data, compound. the about of I heard the at but the the, to in With seeing for the anticipate in on potent to mean, I’ve think them Madrigal presentation better AASLD to to the efficacy – forward later question year. would for We and being respect more skewed most exciting the in direct out full to it’s strong them be later potential EASL. the probably space looking think that comments data year. I I compound toward a other think, that. details

multiple look what Okay. to program ahead GLP-X/GIP on agonist at for And if strategies partnership you that development stage? so VKXXXX, example, your for a for and then dual would options, you best potentially what’s the look acting

great Yes, a that’s question.

ideal partner in involved. it think a indications, the be were I would if larger So

we treat VKXXXX, progression, in also company studies things forward the be we would to I think of see So be portion bring and involved. then a commercialization be it, evolve. think agonist the compounds better the but just compound way. a like would to that X, involved to partner dual NASH the it in have do not in Phase we larger in couldn’t have And how the the to same what but proof-of-concept say I would better intend in probably would with through do But to certainly

like other were the that’s we there that forward indications the an with, agonist, just proceed with a hand, in intend move would could if X-ALD On indication, And probably without indication available with we ourselves. doing an to dual to orphan we’re there by orphan or partner.

the at in when look and So, different of doses think use compound then you multiple same using other, I dosage the GLP-X indications there are to some the opportunities agonist like forms.

be XXXX think of we So, could that a to strategy. that amenable type

Great. question. for you taking Thank helpful. the That’s super

Jay. Thanks,

The will Truist from Joon next ahead. Lee Please be question with go Securities.

this XX% reduction Phase little you’re Thank start content. into questions. in that Joon. VKXXXX [indiscernible] fat the trial data patients? you end updates Xa confirmed for guess, Are data showed top liver of still for now you. reductions deeper Your by around and you line Phase on program? your taking meeting biopsy track to Thanks similar VOYAGE dosing to XX% in with on our asking, and a Brian expecting Xb batch report Hey, I’ll I going are a the year is

the Sure. Sure. Thanks for questions.

can year, to year. this can but quarter, could we out out get we the we’re push data things into to read do everything it’s do this the So, first possible going we’re to to the everything going data

the as far anticipated efficacy projected As efficacy. or

the skewing at we think we’re in it I and much the a on dose. now a little population way is, look lower bit larger

of that which may level any Xa was was oral not agent. the Phase shown So, efficacy see we study, most potent in the of

the are NASH in should been as we’re improvement shape characterized threshold increase fibrosis. long we in responders, I we of to the most that’s patients think and Phase as in repeatedly be good study is probability XX% and as saw of the Xa the resolution above shown which what clearly

So, I threshold targeting. think that’s kind the we’re of that

have. That’s you I so all Thank much, Brian.

lot. a Thanks

Raymond next The from Steven is Seedhouse question from ahead. Please James. go

good get agonist, the hoping question. points Brian. you Great, any Hoping dual GIP. taking comment you on the differentiation. Thanks I the of for was afternoon. could on

runway have If retention out you receptor, GIP just apologies position, the question, gives and that Thank background gets you noise, you to cash last you. even just in much then there, triple would study? I study be could how you VOYAGE to hear ultimately comment biopsy think on comparing the could dips that? your other And comment patient any your data you readout interested VOYAGE cash for vis-à-vis Xb your take on on Phase position, to also, you one glucagon and in the, think that then if the on on agonist or involving your

Yes, thanks, Steve.

as to pretty control. as agonists, and other think I the agonists of perform seem points well on So GLP-X/GIP the differentiation weight dual with the far the, AXc

specifically numerical in of NASH what improvements, we’ve see some is as rodent more from on our the far tirzepatide, the they As at look least similar we liver versus do program fat. models think, I seen advanced compound

really to here of exceed evaluated what seem most tirzepatide. the saw those and we good compounds at fat of reduction So liver be with we’ve numbers most

I just the data. agonists, out the any the And think far not any NASH it’s on data sure have So, with triple off they’re with know top head. very triple my I’m encouraging. I agonists, I I’m the it’s as with agonists, the I don’t but there, models the think of but data triple competitive as familiar

as patient pretty retention VOYAGE far in good. the It’s As study. been

And into given the had people couple take years the to especially think retention. you I happened and for do then we’ve has not want clinics in really I go all cash question? of think past good Greg, opportunities that

Steve. sure, Yes,

and definitely answer question. we’re our funded your the get runway question. Yes, cash through our to Phase biopsy to study endpoint sufficiently Xb On the

Great. Thank you guys.

Steve. Thanks,

Pantginis next is Joe ahead. Wainwright. The H.C. from question Please with go

Good guys. you if question. Hey mind. afternoon. for Thanks don’t Couple, taking the

areas to have contributors just those VOYAGE, impacts expected consolidated still regard than because curious better were things, COVID lines. So areas with any to geographical have on not along you good that of expected that be might any a

a good that’s question. Joe Hey,

haven’t slower on underperformed the we to were well has various and what of emerge up they spreading the I and them we COVID be We wave. they were, bringing to because right seen, high And dose Europe part originally get was running. seemed Really at that they’ve little from guess to thought. a slower were

have tell. exposure what we if ways Europe, slower, area’s of we impacted a to any us been had that conflict that Eastern Europe, little think say we hasn’t been And from all Europe. probably we I so So, was at part question? to But it’s any can second the haven’t, don’t the

No, Thanks. it, be you it and at rate juncture what XXXX, was point. really the to that point consider you complete this any a hit much, to anything you was it or for with steps study? would the move is genotox expected, better limiting then may regard much And pretty but than

report, rate been that preparation study’s limiting the the completed. of is Yes, the the actually step

matter about a chain It very everything just along with final but report time and getting sounds does QCed the shape affected in our there’s it it of just FDA issues it’s all now to simple, and So take some vendors, of seems the response. like. supply submitted the

So it everything’s It should seems be. slower than little bit a it. like

I to Absolutely. guess, and both management. And cash question, regard then really is with my for Greg, you last

good these it’s have catalysts. get cash And markets balance, so in especially beyond to data these you

up? to burn sized guess, with years view do next give of regard number growth where to right the programs yourself, over do cash and guidance you company’s see generally regard usage know expectations, the employees or, how I but ramp you I So, with you as don’t couple

need use quite Well, and a bit. And expanded that the burn utilized add we consultants a in run and continue consultants able in-house, and been we I we’ve increased our could brought the we lot think it’s haven’t and we’ve reflected we And very of to commensurately. we but when think to pipeline necessarily I that’s but the have them lean effective. been hasn’t people, burn, pretty we’ve

when done a need we’ve think we with And the coming a this hired I to we good we add just a actually controlling We’ll board. add. more job So, week burn. on couple and person have

Soon to need our we years. past really, positions has think performed but any I grow executed on over have here of the open advertised to they’re size website, of team we’ve exceptional don’t and way really we couple the really, proud the really especially well

you And so to beyond go I said, is anything Greg? allow the for, to think Greg catalyst, burn sufficient to as that, add planned the clinical well, us want

Yes, program. over looking would years, our the is trials even our preclinical for Joe, themselves very here just direct clinical high forward percentage few traditionally of add or I our related and spending next studies to a that, our expenses

high on here very So, really whatnot. footprint a expenses we studies related percentages spend administrative and very small most have direct and our of to

Thanks Great. guys.

Joe. Thanks,

The is Henry ahead. from next question go from Please Capital. ROTH Scott

and to respond I’m How A quarter. to you long submit it? you the of these for guideline the questions. in afternoon. the but a sure to response couple take Thank on regards there hit you VKXXXX, that? FDA if you’ll Is with any to already good not expect do second

Yes. response Hey XX expect Scott, we days. would a in

on the here notification sort them. hold receive of target the a will clinical we our from this to and think response I that’s

in will don’t we something you proceed, them for like something, not XX from days, be and hear a it’s response receive about to So expect that we XX you days.

four data great. would you post five Thanks. you good in enrollment guideline past a you be, that? Is think completion. still And months about can months XXXX, adjust do Okay, the you then expect regards to still I that with to said to or think

the we enrollment. think spell we can clean then, preparation for, I four will to months treated weeks for would, that’s close think you being when eight we weeks that XX-weeks up and out data can. as enrolled, complete five completion announce when four patient from Yes, months say about the estimate of We to data as enrollment. to And last

high to in And of G&A, more you think kind of expect four model, towards was Would the million legal then we kind XXXX, of as the I some, trend on well I there believe $X Okay, that in south what quarter? stock prior a expenses. number comp great. was it said saw quarters you just in as

Yes, it say I that we are think current, fair that of Yes. than be where would closer but bit to south of to that would way little the now.

On the G&A side.

them, lever points, a Just then position you are I challenging significantly sense think like a get in you environment. that of things? problem Brian, flexibility the big perhaps It about, in, picture trying programs, proceed in – we’re think to question how a best Okay. big your lot And may to to partnering flexibility? of given more of environment a you inflection could this How you look most licensing that of upcoming out a how at is of the big once there. you the how guess, reach maintain more do of sounds out you lot than the adjust companies

Yes.

to a I partner don’t I materialize, been but a opportunity a there could potentially in right open large syndrome, better operational larger sales markets, if think said have without mean we’ve what always partner, our in certainly to larger that orphan larger didn’t it involved. areas partner would in be are I forces. proceed I preference footprint have but be be require think few think that involved. But markets, ago, And a Prader-Willi would as to could X-ALD the we ideal would partnering. And I the do those market – the to large we minutes markets But proceed it and a have a partner. particular we think we a would

taking you Thank great. for the Okay, questions.

Thanks, Scott.

Jen question & Laidlaw next from with Company. Please ahead. Yale is go The

Good taking thanks the afternoon. for And questions.

feel Just that’s right you any I third in that given complete still or or We, either patient for over there? you potential relatively mentioned had XXXX. been targets midyear enroll record changes think stand you now, quarter, in that what the do potentially you

for the thanks Yale, question. Hi

unlikely midyear So, and think is that we third unknown. probably quarter is

I we as the back think I in determine think would data possible that can first question, said could quarter it’s do going And everything we’re we the you what we data that fourth XXXX. would, the be get earlier, imply. if can everything to you I to report I it’s, reported in can We mean, to quarter. timeline the the from Scott’s But in though. can do that out

two What there Okay, – great. additional question this on quick from decision year any do have tirzepatide half That’s second in read XXXX. helpful. released on questions And XXXX? you through is of a FDA could or – quick data in [indiscernible] maybe

report – I Well, first data. think SURMOUNT year. their going of the they’re this to SURMOUNT the later The studies obesity

think be a mechanism than interesting data I an that of a So, more GLP-X/GIP the high just does it dose seem set like because would is GLP-X. effective

So mechanism. but from large be that expect interesting see be to see obesity that to holds, would really this we’d that if the first study

Thanks. data And based interested and a some maybe the future, that, and some would provide to is the on comparison be XXXX which preclinical related, at maybe question, in implication just the from that? tirzepatide point last any you between

see weight loss, pretty, on competitive NASH the mice, reported a you But we dual between model we’re but Thanks little this posters we to with We the GLP-X insulin, like fat. seem better mono-agonist in pretty we’re comparable seems the better very effect data. there, is in Yale. glucose, at perform duals is comparisons think I what see all road liver agonists, is tirzepatide in but we’re the talking to data about, comparisons. fats. November. least ObesityWeek competitive bit Yes, on when And get do liver the at those very than the we did It

compounds little seem the So a on fat. to liver work better

on Okay, very great. And That’s helpful. progresses. congrats all the

Thanks, Yale.

[Operator Instructions] Blair. next go will Please Hsieh Andy The come with question from ahead. William

Okay. Thanks questions. for my taking

your I’m Brian, thoughts topic. this on So curious about

targeting patients to study? union patients if study this you’re lot I’m kind high from if to identifying curious just X NASH Type they’ve NASH And a that, diabetes the the priority. idea Phase population, Speaking with would be patient of a kind of entertain a Phase of KOLs, a of gradually open go maybe of Xb and that’s idea X

little you question again? you we sorry, that here. Could Could a repeat – had interference

Oh, course. yeah, of of course,

a idea an X progressive and among NASH talking KOLs union kind about Type of is guess increasing, the focus risk, as basically high I there’s diabetes population. the highly of So, the

So, to of I’m Phase idea Viking you just the or go population. variety this NASH the if wondering entertain would X, kind Xb just Phase from open of as instead to of population garden you targeting

challenges in XX% a that. is interesting NASH Yes. window. know. study, you don’t I I to prolong subsets that down that might Thanks certainly. feeling it’s diabetes But also repeating for it enrolling the enrollment mean, think the that, I narrow if the my given an have that

sort this indication be influencing far for X and ideal prefer where the as for would the and Phase is NASH dual of in diseases think you’re up of But X or insulin at we agonist a nice indication the combination GLP-X XXXX, approach problem I really dual a straight both a be That, think even agonist least you’re would a improving trial. for would I a Phase just a as VKXXXX. VKXXXX, both for agonist, which settings. sensitivity,

Got do it. VKXXXX. That’s very And with also the helpful. has to second question Thank you.

as high curious with mind like So, identifying you are wondering high are in any you we’re indications indications, a or of priority target just we’re going looking rubric if several forward? parameters this potential exercise sort for of you doing us, identify kind as sharing would this or

will we’re to interesting study weight that effect the insulin, healthy glucose at weight, still, Yes, going huge body but see be these to the X it’s role When the on I on body and a are effect think and particularly control. we look I think, people, Phase that. data the play the, in from conducting

focus exposing not to on and to we’ll in enough I them probably effects decisions one moving data but that of We’re use too prior long to on certainly the take think really it’s indication. note forward. early to early, But that massive kind of say to have drive that behavior, feeding

Great. makes That Thanks, sense. Brian.

Thanks Andy.

question with go Justin is Zelin next BTIG. The ahead. from Please

the Thanks question. for taking

on the VOYAGE? here in pandemic seeing or in expect just enrollment are any VOYAGE, are trends any So, waves enrollment any increase increase seeing Brian, kind maybe you in you as of

call, think think Omicron XXXX. to I it November, start the three takes Thanks, And last interesting. Yes, as two then I a had we We on screen hit December Justin. to months to I and in nice really the mentioned patients. had it’s wave

heading that a normal timeframe. we the the so And in in a April dip enrollment potentially anticipated a maybe March enrollment, cadence. We saw And then seems to and and in we March saw. back is to what January, nice be February, dip

little the of and we get footing, that’s in up through firm a but better. of of resume a we’re hopefully see and led or the probably it it’s So we and can on now bit Omicron good start March a year, did result now

Got it.

And me. development one early clinical in additional see you Or NASH? do setting? any cannot there possibility agents the quite your the here in two agonist, of of you question in to understand, reason XXXX a sense maybe combination be but why makes That combined the think any dual Okay. is it’s just with

reason combined. they be No it’s a great question. think There’s that to no couldn’t

resolution combination sort because orthogonal think content, lipids, a job agonist to and loss, increase huge it’s would fat liver we’ve does fibrosis. sensitivity, and nice really driver the agonist of weight insulin enhance And would setting a thyroid a nice a is fibrosis on the in on further lead this I which NASH the dual and endpoints. seen effects; really which plasma what of then

indication the really nicely they’re So, for NASH. of paired

really combination. So great it’s a

questions. the taking for thanks Well, Great.

Justin. Thanks,

back concludes I this closing over Ladies turn remarks. to to session. like any for and conference Stephanie gentlemen, the our would question-and-answer Diaz

disconnect. for updating months. the you you can again coming your forward We you look and you. Thank in Thank continued again And to participation Viking of support Therapeutics.

The you conference now today’s has presentation. attending concluded. for Thank

You may now disconnect.