Viking Therapeutics Inc (NASDAQ: VKTX), a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders, announced on Wednesday that it has reported its financial results for year ended 31 December 2019.

The company reported research and development for 2019 at USD23.6m compared to USD19m in 2018.

The firm posted general and administrative expenses were at USD9.1m in 2019 compared to USD7.1m in 2018.

For the twelve months ended 31 December 2019, Viking reported a net loss of USD25.8m, or USD0.36 per share, compared to a net loss of USD22.1m, or USD0.38 per share, in the corresponding period in 2018.

The company stated that the decrease in net loss per share for the twelve months ended 31 December 2019 was primarily driven by the additional weighted average shares outstanding at 31 December 2019 versus those outstanding at 31 December 2018, given the public equity financings that occurred during 2018.