05:30 PM EDT, 07/24/2024 (MT Newswires) -- Viking Therapeutics ( VKTX ) reported a Q2 net loss late Wednesday of $0.20 per diluted share, compared with a loss of $0.19 per share a year earlier.

Analysts polled by Capital IQ expected a $0.27 loss.

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

The company held cash, cash equivalents and short-term investments of $942 million at June 30, compared with $362 million at the end of last year. This likely provides Viking Therapeutics ( VKTX ) the runway to execute "key milestones" for its pipeline programs, Chief Executive Brian Lian said.

The company's shares were up nearly 11% in after-hours activity.

Price: 55.77, Change: +5.36, Percent Change: +10.63