Viking Therapeutics has progressed its obesity treatment program, centered on the drug candidate VK2735, into the pivotal Phase 3 stage of development. The company is nearing completion of patient recruitment for two ongoing registration studies of the injectable formulation, a milestone being reached ahead of the initial schedule. Concurrently, Viking is preparing to initiate two additional Phase 3 trials for an oral version of the same therapeutic.
A Dual-Pronged Clinical Strategy
The investigational drug VK2735 functions as a dual agonist targeting both GLP-1 and GIP receptors, a mechanism of action similar to that of several established competing products. The subcutaneous formulation is currently being evaluated in the VANQUISH-1 and VANQUISH-2 studies, which both commenced in mid-2025. This final-stage testing follows positive Phase 2 results that demonstrated statistically significant weight reduction and a tolerable safety profile.
For the oral formulation, the company has launched a new maintenance and transition study, with data anticipated in the third quarter of 2026. The two planned oral Phase 3 trials are also slated to begin in Q3 2026. These studies are designed with smaller sample sizes and are expected to incur lower costs compared to the injectable program.
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Strong Financial Backing and Executive Confidence
Viking Therapeutics ended 2025 with a robust cash position of $706 million, which management believes is sufficient to fund all four Phase 3 clinical trials. Further strengthening its position, the company has established a manufacturing partnership with Catalent to ensure a scalable supply chain in anticipation of potential future regulatory approval.
Demonstrating internal confidence, Chief Commercial Officer Neil Aubuchon purchased 4,475 shares at $33.50 each on March 11. This transaction was disclosed at the Leerink Global Healthcare Conference in 2026, where Viking presented updates on its clinical progress.
The upcoming catalysts for the company are clear: results from the oral maintenance study and the initiation of the oral Phase 3 trials, both expected in the third quarter of 2026.
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