12:05 PM EDT, 10/24/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

Viking Therapeutics' ( VKTX ) shares jumped 22% in recent Thursday trading, a day after the company reported a narrower-than-expected loss.

The company reported a Q3 net loss of $0.22 per diluted share, compared with a loss of $0.23 a year earlier.

Analysts polled by Capital IQ expected a $0.25 per share loss.

No revenue was reported for the quarter ended Sept. 30, as expected.

The company held cash, cash equivalents and short-term investments of $930 million as of Sept. 30, compared with $362 million at the end of 2023. It possesses the necessary funding to achieve "multiple important milestones" with its clinical programs, the company said.

Price: 73.73, Change: +13.34, Percent Change: +22.09