$VKTX
Viking Therapeutics, Inc.

2023 Q4 Form 10-Q Financial Statement

#000095017023055259 Filed on October 25, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.783M $8.890M
YoY Change 113.96% 109.82%
% of Gross Profit
Research & Development $20.50M $18.38M
YoY Change 26.73% 53.68%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $29.29M $27.27M
YoY Change 44.38% 68.34%
Operating Profit -$27.27M
YoY Change 68.34%
Interest Expense $4.680M $4.733M
YoY Change 546.41% 951.78%
% of Operating Profit
Other Income/Expense, Net $4.731M
YoY Change 1018.44%
Pretax Income -$24.61M -$22.53M
YoY Change 25.8% 42.84%
Income Tax
% Of Pretax Income
Net Earnings -$24.61M -$22.53M
YoY Change 25.8% 42.86%
Net Earnings / Revenue
Basic Earnings Per Share -$0.23
Diluted Earnings Per Share -$0.25 -$0.23
COMMON SHARES
Basic Shares Outstanding 100.0M 100.0M
Diluted Shares Outstanding 99.85M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $362.1M $376.2M
YoY Change 132.87% 142.7%
Cash & Equivalents $55.52M $37.19M
Short-Term Investments $306.6M $339.1M
Other Short-Term Assets $5.146M $5.100M
YoY Change -55.47% -49.62%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $367.2M $381.3M
YoY Change 119.84% 130.89%
LONG-TERM ASSETS
Property, Plant & Equipment $1.126M $1.200M
YoY Change -20.59% -19.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $139.0K $200.0K
YoY Change 95.77% 316.67%
Total Long-Term Assets $1.265M $1.363M
YoY Change -15.04% -11.32%
TOTAL ASSETS
Total Short-Term Assets $367.2M $381.3M
Total Long-Term Assets $1.265M $1.363M
Total Assets $368.5M $382.7M
YoY Change 118.65% 129.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.512M $5.711M
YoY Change -11.92% 81.76%
Accrued Expenses $11.62M $7.700M
YoY Change -13.38% -29.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.14M $13.41M
YoY Change -12.81% -4.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $936.0K $1.000M
YoY Change -25.71% -25.21%
Total Long-Term Liabilities $936.0K $1.018M
YoY Change -25.71% -23.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.14M $13.41M
Total Long-Term Liabilities $936.0K $1.018M
Total Liabilities $20.07M $14.42M
YoY Change -13.51% -6.33%
SHAREHOLDERS EQUITY
Retained Earnings -$377.9M -$353.3M
YoY Change 29.41% 29.67%
Common Stock $733.5M $729.3M
YoY Change 64.74% 68.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.795M $6.795M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $348.4M $368.2M
YoY Change
Total Liabilities & Shareholders Equity $368.5M $382.7M
YoY Change 118.65% 129.58%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$24.61M -$22.53M
YoY Change 25.8% 42.86%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$17.64M -$19.66M
YoY Change 61.41% 45.64%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $35.73M -$12.53M
YoY Change 392.2% -146.59%
Cash From Investing Activities $35.73M -$12.53M
YoY Change 392.2% -146.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 186.0K -70.00K
YoY Change -98.27% -800.0%
NET CHANGE
Cash From Operating Activities -17.64M -19.66M
Cash From Investing Activities 35.73M -12.53M
Cash From Financing Activities 186.0K -70.00K
Net Change In Cash 18.28M -32.26M
YoY Change 158.14% -340.66%
FREE CASH FLOW
Cash From Operating Activities -$17.64M -$19.66M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Profit Loss
ProfitLoss
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us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
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us-gaap Share Based Compensation
ShareBasedCompensation
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ShareBasedCompensation
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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vktx Realized Gain Loss On Investmens
RealizedGainLossOnInvestmens
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vktx Operating Leases Interest Expense
OperatingLeasesInterestExpense
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vktx Operating Leases Interest Expense
OperatingLeasesInterestExpense
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vktx Change In Accrued Interest Relating To Marketable Securities Held As Investments
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-260000
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
380770000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
76825000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
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ProceedsFromSaleMaturityAndCollectionsOfInvestments
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NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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vktx Proceeds From Issuance Of At The Market Equity Offering Sales Agreement Net Of Fees
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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vktx Unpaid Deferred Initial Public Offering And Other Financing Costs
UnpaidDeferredInitialPublicOfferingAndOtherFinancingCosts
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vktx Unpaid Deferred Initial Public Offering And Other Financing Costs
UnpaidDeferredInitialPublicOfferingAndOtherFinancingCosts
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2012-09-24
us-gaap Use Of Estimates
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<p style="text-indent:0;font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0;font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements. Significant estimates made in preparing these consolidated financial statements relate to accounting for an operating lease and certain commitments. Actual results could differ from those estimates.</span></p>
CY2023Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-86000
CY2022Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Additional Cash And Cash Equivalent Related Text
AdditionalCashAndCashEquivalentRelatedText
three months or less
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
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OperatingLeaseWeightedAverageDiscountRatePercent
0.03
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OperatingLeaseExpense
84000
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OperatingLeaseExpense
255000
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OperatingLeaseExpense
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OperatingLeaseExpense
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Number Of Operating Segments
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1
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0
CY2022 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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28000
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0
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1
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LeaseCommencementDate
2022-03-01
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2027-07-31
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P3Y9M29D
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P4Y6M29D
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NumberOfTranches
2
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EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
168000
CY2015Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
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CY2015Q2 vktx Shares Repurchase Price Per Share
SharesRepurchasePricePerShare
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CY2015Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
366190
CY2015Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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62000
CY2020 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
6517000
CY2023Q3 us-gaap Share Based Compensation
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CY2022Q3 us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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12670000
us-gaap Share Based Compensation
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6517000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y7M28D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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20515000000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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4.59
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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0
vktx Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period
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3750
vktx Share Based Compensation Arrangements By Share Based Payment Award Options Cancelled In Period Weighted Average Exercise Price
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P7Y4M6D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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23332000000
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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12152000000
us-gaap Proceeds From Stock Options Exercised
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9.31
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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P6Y2M1D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2018Q2 vktx Operating Lease Option To Extend Term
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P3Y
CY2021Q4 vktx Operating Lease Option To Extend Term
OperatingLeaseOptionToExtendTerm
P5Y

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