Viking Therapeutics, Inc.

Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to the development of novel therapies for metabolic and endocrine disorders. Headquartered in San Diego, California, the company's mission is to leverage its expertise in metabolism to create innovative therapeutics designed to improve patients' lives.

The company's pipeline includes several drug candidates targeting significant market segments. Its lead program, VK2735, is a dual agonist of the glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors, being developed in both subcutaneous and oral formulations for the treatment of obesity and other metabolic disorders. Another key candidate, VK2809, is an orally available, small molecule selective thyroid hormone receptor beta agonist aimed at lipid and metabolic disorders, including non-alcoholic steatohepatitis (NASH) and non-alcoholic fatty liver disease (NAFLD). Additionally, Viking is developing VK0214 for X-linked adrenoleukodystrophy (X-ALD) and has initiated a new program for dual amylin and calcitonin receptor agonists (DACRAs), with VK3019 entering Phase 1 for obesity.

Under the leadership of President and CEO Brian Lian, Ph.D., Viking Therapeutics reported its first-quarter 2026 financial results on April 29, 2026. The company has fully enrolled its Phase 3 VANQUISH trials for subcutaneous VK2735 in obesity and anticipates initiating a Phase 3 trial for the oral formulation of VK2735 in the fourth quarter of 2026. With a strong cash position of $603 million as of March 31, 2026, Viking is positioned to advance its pipeline in the competitive GLP-1 market, offering both injectable and oral options to address metabolic diseases.

Latest updates

Viking Therapeutics to Present Phase 2 and Phase 3 Data on Obesity Drug VK2735 at ECO 2026

Event summary

  • Viking Therapeutics will present two posters on its VK2735 program at the European Congress on Obesity (ECO) 2026 in Istanbul, May 12-15.
  • One poster highlights data from the Phase 2 VENTURE-Oral trial, focusing on weight loss and tolerability over 13 weeks.
  • The second poster details the design and enrollment demographics of the ongoing Phase 3 VANQUISH-1 study of subcutaneous VK2735.
  • VK2735 is a dual agonist of GLP-1 and GIP receptors, developed in both oral and subcutaneous formulations for obesity treatment.

The big picture

Viking Therapeutics is advancing its VK2735 program, a dual GLP-1/GIP agonist, through key clinical milestones. The presentations at ECO 2026 come as the obesity drug market continues to expand, with established players like Novo Nordisk (Ozempic, Wegovy) and Eli Lilly (Mounjaro, Zepbound) dominating. Viking's ability to demonstrate competitive efficacy and safety profiles will be critical in carving out market share.

What we're watching

Clinical Efficacy
How the Phase 2 VENTURE-Oral trial data on weight loss and tolerability will position VK2735 against established GLP-1/GIP agonists like Mounjaro and Zepbound.
Regulatory Pathway
Whether the Phase 3 VANQUISH-1 trial design and diverse enrollment will support a strong regulatory submission for VK2735.
Market Differentiation
The pace at which Viking can differentiate VK2735 in both oral and subcutaneous formulations to compete in the crowded obesity drug market.

Viking Advances Obesity Pipeline, Initiates Amylin Agonist Program

Event summary

  • Viking Therapeutics' Phase 3 VANQUISH trials for subcutaneous VK2735 in obesity are fully enrolled, with Phase 3 oral VK2735 trials expected to begin in 4Q26.
  • The company anticipates data from a VK2735 maintenance dosing study in 3Q26.
  • Viking filed an IND for its novel amylin agonist, VK3019, with Phase 1 trials planned for 2Q26.
  • Viking ended March 2026 with $603 million in cash, a decrease from $706 million at the end of 2025.

The big picture

Viking is aggressively pursuing a dual-agonist strategy in the rapidly expanding obesity treatment market, aiming to offer both subcutaneous and oral formulations of VK2735. The company's focus on maintenance dosing regimens and a separate amylin agonist program indicates a broader ambition to address the complexities of long-term metabolic management. The substantial R&D spend reflects the significant investment required to advance these programs through clinical trials and regulatory review.

What we're watching

Clinical Execution
The rapid enrollment in the VANQUISH trials suggests strong patient interest, but the success of the Phase 3 program hinges on demonstrating statistically significant efficacy and safety compared to placebo.
Oral Formulation
The success of the oral VK2735 formulation will be crucial for Viking's differentiation in a competitive obesity market, and the 4Q26 initiation date is a key milestone to monitor.
Pipeline Diversification
The advancement of VK3019, the amylin agonist, demonstrates Viking's commitment to diversifying its pipeline beyond GLP-1/GIP dual agonists, but its clinical success remains highly uncertain.
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