Analytici u Viking Therapeutics čekají cílovou cenu kolem 92 USD, což znamená potenciál růstu o 162 % proti současné ceně. Skeptici ale upozorňují na silnou konkurenci a riziko selhání klinických studií VK2735.
According to Yahoo! Finance, the consensus price target from analysts for Viking Therapeutics (VKTX +2.62%) is about $92, which indicates potential upside of 162% from its current stock price. It's a significant opportunity, but is it justified? Here's the lowdown from the skeptics' perspective.
Viking Therapeutics' prospects The investment case for the stock rests on its lead drug candidate, VK2735, a dual GLP-1 and GIP agonist in development for obesity and type 2 diabetes. The two key advantages VK2735 may have over its rivals are a steeper rate of weight loss and the promise of a dual-formulation therapy (oral and subcutaneous). The combination of these two advantages would mean that patients could achieve significant weight loss with a subcutaneous (injectable) dose, followed by a more convenient oral maintenance dose.
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These properties mean VK2735 could win market share in a crowded field, and investors are looking forward to the results of its phase 3 trials of VK2735 in subcutaneous formulation (likely in the second half of 2027) and VK2735 in oral formulation (set to commence later this year with results likely in 2028/2029). In addition, investors are awaiting the imminent results of a small (180 adults) phase 1 maintenance trial designed to evaluate dosing regimens.
As with clinical-stage biopharmaceutical companies, there are two key considerations for investors to ponder, both of which pose risks for Viking Therapeutics. The first is competition from rival drugmakers and its possible impact on the market potential of Viking's pharmaceuticals. The second is Viking's success in its clinical trials, as that will also determine the value of its pipeline.
The obesity and type 2 diabetes treatment market is highly competitive, with drugs already within VK2735's class of drugs, including oral formulations. Moreover, much larger peers like Eli Lilly (LLY -0.88%), Novo Nordisk (NVO -1.92%), and Amgen are already developing next-generation or differentiated treatments.
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Focusing on the more lucrative obesity market, the list of already approved drugs includes Eli Lilly's Zepbound (tirzepatide), which has the same mechanism as VK2735, and an oral tablet, Foundayo (orforglipron). Novo Nordisk has semaglutide approved as an injectable (Wegovy) for obesity and as an oral tablet (Rybelsus) for diabetes, with additional oral formulations for obesity in development.
Looking ahead, Eli Lilly plans to file for FDA approval of its GLP-1, GIP, and glucagon agonist, retatrutide, in early 2027, following several successful phase 3 trials. Novo Nordisk has CagriSema (which combines semaglutide and another drug) and an experimental drug, Amycretin, in phase 3 trials.
This is a highly competitive market, and it could be even more competitive by the time Viking completes its phase 3 trials for VK2735.
Clinical trial data There is no end to reasons for trial failures. In the case of VK2735, it could come down to the safety and tolerability of the drug in oral form.
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The stock crashed last summer after phase 2 results for VK2735 (oral) revealed a 20% discontinuation rate due to adverse events in the treated group. Oral formulations always have to answer the questions around potential gastrointestinal issues.
Any issue with the tolerability of VK2735 (oral) will threaten not only the market potential of the oral formulation itself but also its use as a maintenance dose in Viking's dual-formulation approach.
Where next for Viking Therapeutics There's no doubt the company faces significant competitive and clinical trial risks, and investors are hoping Viking calibrates any titration issues with the oral formulation in the phase 3 trial. In the near term, the results from the phase 1 maintenance trial will provide indicative data on the potential dual-formulation strategy. A successful result may cause some skeptics to reconsider their position.
Viking Therapeutics je téměř 66 % pod svým vrcholem z počátku roku 2024. Nejbližším katalyzátorem jsou brzké výsledky 180členné fáze 1 a oznámení zahájení orální fáze 3 ve 4. čtvrtletí.
Viking Therapeutics (VKTX -5.02%) stock is down almost 66% from its early 2024 peak and down about 8.4% so far in 2026. While there's little the company can do regarding the drug development programs of larger peers like Eli Lilly and Novo Nordisk, Viking has a mix of near- and long-term catalysts in its pipeline that could meaningfully rerate the stock.
Viking Therapeutics and VK2735 The company's lead drug candidate is VK2735, a dual GLP-1 and GIP agonist in development in subcutaneous and oral forms to treat obesity and type 2 diabetes. VK2735 has two potential advantages over rival drugs, including Eli Lilly's Zepbound/Mounjaro (tirzepatide), Foundayo (orforglipron), and Novo Nordisk's Ozempic/Wegovy (semaglutide).
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The first is that VK2735 is being developed as a dual-formulation therapy, allowing patients to take it as a subcutaneous (injectable) formulation, followed by a more convenient oral maintenance dose. The second is that clinical trial evidence suggests it can achieve a steeper rate of weight loss than tirzepatide or semaglutide. As such, it offers the prospect of swifter weight loss and the convenience of a rapid shift to an oral dose.
However, as ever with clinical trial data, it needs to be qualified and put into context. If you've read the linked article, you'll note that I'm comparing phase 2 data for VK2735 with phase 3 data from Eli Lilly and Novo Nordisk offerings. These are not head-to-head trials, and it's the phase 3 data from the VK2735 trials that really matter. Still, the data is impressive and part of what investors are basing their hopes on.
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Viking Therapeutics' pipeline All of which leads me to the key catalysts for the stock, starting with the long-term catalysts:
The 78-week phase 3 trials of VK2735 (subcutaneous) are ongoing, with results unlikely until the third quarter of 2027. The phase 3 trials of VK2735 (oral), which are set to commence in the fourth quarter of 2026, aren't likely to yield results until 2028 or even 2029. Clearly, the key results from these trials are still some time away, and the stock is likely to remain volatile until they are released. Still, there are some near-term catalysts for the stock that investors need to be aware of.
Management needs to announce the initiation of the oral phase 3 program in the fourth quarter. Viking has a 180-subject phase 1 maintenance dosing trial that is due to report results imminently.
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The maintenance trial (a 19-week subcutaneous dose or placebo, followed by 12 weeks across a range of doses, including oral dosing) will provide data that could help support a dual-formulation strategy. For example, the phase 2 trial results for VK2735 (oral) included some disappointing safety and tolerability data, which caused the stock to crash in the summer of 2025. Some positive news on tolerability in the transition from subcutaneous to oral applications would improve sentiment toward the stock and VK2735.
What really matters is the phase 3 trial results relative to rivals', and they won't come for a while. As such, any disappointing news from the maintenance trial needs to be put into context, as does any positive news. The debate over Viking Therapeutics won't end with the phase 1 results, but they are likely to impact the stock price in the near term.
Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Eli Lilly and Novo Nordisk. The Motley Fool recommends Viking Therapeutics. The Motley Fool has a disclosure policy.
Akcie Viking Therapeutics v červenci klesly o 18,6 %, protože investoři řešili financování studií. Firma měla na konci čtvrtletí v hotovosti a ekvivalentech 502 milionů USD a podala registrační dokumentaci k nabídce a prodeji až 500 milionů USD kmenových akcií.
Shares in Viking Therapeutics (VKTX -0.60%) declined by 18.6% in July, according to data from S&P Global Market Intelligence. The decline came during a slow month for newsflow in its pipeline, as investors began to fret about the company's financial position.
Viking Therapeutics' quiet month The healthcare company delivered its second-quarter earnings report at the end of the month and confirmed that its phase 3 trials for its weight loss drug VK2735 in subcutaneous (injection) form were fully enrolled and proceeding in line with management's plans, and also that it continued to expect its phase 3 trials for VK2735 (oral) to begin in the fourth quarter. Finally, on VK2736, management confirmed that the phase 1 maintenance trial will report results this quarter.
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As a reminder, VK2735 is being developed as a dual-formulation therapy, in which an initial injectable dose can be followed by an oral maintenance dose. It's an exciting possibility because VK2735 has demonstrated the ability to produce a steeper velocity of weight loss than its peers in previous trials.
While all the above is good news, it's not really significant new news, and didn't serve as a catalyst to send the stock higher. Instead, the market focused on the cash needed to fund these trials. Viking's cash usage was about $96 million in the quarter, and it ended the quarter with $502 million in cash and equivalents, down from $706 million at the end of 2025.
Moreover, the company filed a registration statement with the Securities and Exchange Commission (SEC) outlining that it had entered into an agreement to offer and sell up to $500 million of its common stock. In addition, it may offer preferred stock, debt securities, warrants, and other instruments to raise cash .
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What it means to investors The cash burn and SEC filing are a reminder to investors that lengthy phase 3 trials don't come free, and not only is there a risk that VK2735 trial data may disappoint, but also that commercial prospects may be blunted by competitors' success in trials. There's also a risk that existing shareholders' claims to future earnings and cash flow will be diluted by future equity raises.
That said, management did say it had "cash into 2028" on the earnings call, and the phase 3 trial for VK2735 subcutaneous should report results by then. As such, Viking Therapeutics doesn't necessarily need to raise cash before major catalysts occur, but given the SEC filing, it's safer to assume it will. Still, that shouldn't detract from the company's potential to become a significant player in the weight-loss drug market.
Viking Therapeutics vykázala za druhé čtvrtletí čistou ztrátu 128,1 mil. USD, tedy 1,10 USD na akcii, proti 65,6 mil. USD před rokem. Firma zároveň pokračuje v posunu programu VK2735 do fáze III a disponuje 502 mil. USD v hotovosti, peněžních ekvivalentech a krátkodobých investicích.
Viking Therapeutics Faces Timeline Risk—But Upside Could Be HugeViking Therapeutics NASDAQ: VKTX reported a wider second-quarter loss as the company increased spending to advance its obesity pipeline, including its lead dual GLP-1/GIP receptor agonist, VK2735, through Phase III development in injectable and planned oral formulations.
The company reported a net loss of $128.1 million, or $1.10 per share, for the three months ended June 30, compared with a net loss of $65.6 million, or $0.58 per share, a year earlier. Research and development expense rose to $115.8 million from $60.2 million, driven primarily by clinical-study costs, employee compensation, stock-based compensation and third-party consultants. General and administrative expense increased to $16.9 million from $14.4 million.
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3 Companies at the Forefront of the GLP-1 Pill WarsFor the first six months of 2026, Viking reported a net loss of $286.5 million, or $2.47 per share, versus a loss of $111.2 million, or $0.99 per share, in the prior-year period. The company ended the quarter with $502 million in cash, cash equivalents and short-term investments, down from $706 million at Dec. 31, 2025.
VK2735 Phase III Trials Fully Enrolled President and Chief Executive Officer Brian Lian said Viking’s Phase III VANQUISH program for subcutaneous VK2735 continued to progress as planned during the quarter. Both trials are fully enrolled.
Viking Therapeutics: The High-Stakes Weight Loss ContenderVANQUISH 1 is studying VK2735 in adults with obesity and enrolled about 4,500 participants by November 2025. VANQUISH 2, which is studying adults with obesity and type 2 diabetes, enrolled about 1,000 participants and completed enrollment in the first quarter of 2026.
The randomized, double-blind, placebo-controlled studies are evaluating once-weekly subcutaneous doses of 7.5 milligrams, 12.5 milligrams and 17.5 milligrams over 78 weeks. The primary endpoint is the percentage change in body weight from baseline compared with placebo. Secondary and exploratory measures include the proportions of patients achieving at least 5%, 10%, 15% and 20% weight loss.
Each VANQUISH study also includes an extension period in which participants may continue treatment, including participants initially assigned to placebo.
Lian cited prior Phase II results from the VENTURE study, where weekly VK2735 produced mean body-weight reductions of up to 14.7% after 13 weekly doses, with no signs of a plateau, according to the company. Viking said the treatment was generally well tolerated in that study, with most treatment-emergent adverse events described as mild or moderate.
Oral Program Planned for Fourth Quarter Viking continues preparations to begin a Phase III program for its oral tablet formulation of VK2735 in the fourth quarter. Lian said the oral program will include two trials that generally mirror the injectable VANQUISH program, though the studies are expected to be smaller and shorter in duration.
In Phase II testing of oral VK2735, participants receiving once-daily tablets achieved mean body-weight reductions of up to 12.2% after 13 weeks, Viking said. The company reported that all doses above 15 milligrams showed statistically significant differences versus both baseline and placebo beginning at week one. Up to 80% of subjects in treatment groups achieved at least 10% weight loss, compared with 5% of placebo-treated subjects.
Lian said the company expects to disclose full details of the Phase III oral program, including dose selection, when the trials are initiated. He said Viking believes the program could position VK2735 as the first oral dual GLP-1/GIP agonist to reach the market, if successful.
Maintenance-Dosing Data Expected This Quarter Viking also expects to report results later this quarter from a maintenance-dosing study of injectable VK2735. The study is evaluating weekly, every-other-week and monthly regimens following an initial weekly treatment period.
The study is designed to assess safety, tolerability and pharmacokinetics, while exploratory endpoints include changes in body weight from baseline and during the maintenance period. Lian said the trial is nearing completion and could help guide dose selection for VANQUISH extension studies expected to start in late 2026 or early 2027.
During the question-and-answer session, Lian said Viking would aim to provide separate tolerability data for the initial induction period and the maintenance period, though granular weekly data may not be available with the initial topline release. The company uses a compressed titration schedule in the maintenance study to reach the maintenance phase sooner than it would with less-frequent dosing from the outset.
After the injectable maintenance cohorts are completed, Viking plans to continue the study with oral maintenance regimens. That portion is expected to conclude in the first half of 2027.
Earlier-Stage Obesity Pipeline Expands During the quarter, Viking began a Phase I single-ascending-dose trial of VK3019, an investigational dual amylin and calcitonin receptor agonist for obesity. The randomized, double-blind, placebo-controlled study is enrolling healthy adults with a body mass index of at least 27 and is evaluating the safety, tolerability and pharmacokinetics of single subcutaneous doses.
Lian said Viking views VK3019 as having potential both as a standalone treatment and, potentially, in combination with VK2735. However, he said decisions about advancing the program will require data from a multiple-ascending-dose Phase I study, which the company expects to have in the 2027 timeframe. A combination product would not enter clinical testing before next year at the earliest, he said.
The company also expanded its leadership and commercial infrastructure. Viking appointed Neil Aubuchon as chief commercial officer in the first quarter, named Hubert Chen, M.D., chief medical officer during the second quarter, and subsequently appointed Dorothy Gemmell to its board of directors.
Management said it expects cash use to taper from the current period as the company moves beyond the heaviest spending phase of its subcutaneous Phase III trials. Viking reiterated that it expects its cash position to fund operations into 2028.
About Viking Therapeutics (NASDAQ:VKTX)Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders. Headquartered in San Diego, California, the company's pipeline leverages small-molecule approaches to target hormone signaling pathways implicated in conditions such as non‐alcoholic steatohepatitis (NASH), dyslipidemia, type 2 diabetes and muscle wasting disorders.
The company's lead programs include VK2809, a thyroid hormone receptor‐beta agonist designed to reduce liver fat and improve lipid profiles in patients with NASH and dyslipidemia, and VK5211, a selective androgen receptor modulator (SARM) aimed at enhancing muscle mass and function in individuals with muscle wasting conditions.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Viking Therapeutics uspořádala konferenční hovor k hospodářským výsledkům za 2. čtvrtletí 2026. Společnost zároveň upozornila na výhled, časové plány a milníky.
Viking Therapeutics, Inc. (VKTX) Q2 2026 Earnings Call July 29, 2026 4:30 PM EDT
Company Participants
Stephanie Diaz
Brian Lian - President, CEO & Director
Gregory Zante - Chief Financial Officer
Conference Call Participants
Steven Seedhouse - Cantor Fitzgerald & Co., Research Division
Ryan Deschner - Raymond James & Associates, Inc., Research Division
Michael Ulz - Morgan Stanley, Research Division
Hardik Parikh - JPMorgan Chase & Co, Research Division
Biren Amin - Piper Sandler & Co., Research Division
Tsan-Yu Hsieh - William Blair & Company L.L.C., Research Division
Annabel Samimy - Stifel, Nicolaus & Company, Incorporated, Research Division
Jay Olson - Oppenheimer & Co. Inc., Research Division
Yale Jen - Laidlaw & Company (UK) Ltd., Research Division
Fiona Shang - Jefferies LLC, Research Division
William Wood - B. Riley Securities, Inc., Research Division
Jeet Mukherjee - BTIG, LLC, Research Division
Gregory Renza - Truist Securities, Inc., Research Division
Daniel Brims - Lake Street Capital Markets, LLC, Research Division
Presentation
Operator
Good day, and welcome to the Viking Therapeutics Second Quarter 2026 Financial Results Conference Call. [Operator Instructions] And as a reminder, this conference call is being recorded today, July 29, 2026. I would now like to turn the conference over to Viking's Manager of Investor Relations, Stephanie Diaz. Please go ahead, Stephanie.
Stephanie Diaz
Hello, and thank you all for participating in today's call. Joining me today is Brian Lian, Viking's President and CEO; and Greg Zante, Viking's CFO. Before we begin, I'd like to caution that comments made during this conference call today, July 29, 2026, will contain forward-looking statements under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements about Viking's expectations regarding its development activities, time lines and milestones.
Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and adversely, and reported results should not be
Viking Therapeutics zahájila fázi 1 s VK3019, injekčním kandidátem na hubnutí bez GLP-1. Cílí na amylin a kalcitonin, s preklinickým úbytkem hmotnosti až 8 % proti kontrolám.
The human appetite has more than one off switch, and drugmakers like Eli Lilly (LLY +0.76%) and Novo Nordisk (NVO 2.25%) are doing their darndest to identify and develop a medicine to target every single one.
On June 24, Viking Therapeutics (VKTX +1.95%) announced a phase 1 trial for one of its candidates that's attempting to flip one of those as-yet unmedicated appetite switches. That marks its first obesity candidate working outside the incretin pathway that includes GLP-1, or glucagon-like peptide-1, the hormone behind Ozempic and Wegovy and one of two hormones behind Zepbound and Mounjaro.
Let's take a look at this program and determine whether it's really going to be a threat to Novo Nordisk and Eli Lilly.
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This hormone is already a hot target Amylin is a hormone produced in the pancreas that is released with insulin after a meal, activating receptors in the brain stem that promote the feeling of fullness, and also slowing stomach emptying. That pathway is adjacent to the one that the GLP-1 medicines use, so it could technically be targeted by a combination therapy affecting both.
VK3019, Viking's new candidate, is a dual amylin and calcitonin receptor agonist. Additionally targeting calcitonin activation is meant to yield metabolic effects amylin alone does not; preclinical animal model data showed that the combination led to up to 8% weight reduction against controls.
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The new phase 1 trial, announced on June 24, is being conducted in adults with a body mass index of 30 or above, and the candidate is formulated as an injection. If Viking's dual targets work as desired, the company could be on the way to producing a leading next-generation weight loss candidate -- but its bigger competitors are way ahead of it.
Eli Lilly reported phase 2 results for eloralintide, an amylin receptor agonist, in November 2025; across dosing arms, patients experienced mean weight reductions of 9.5% to 20.1% after 48 weeks, against a loss of 0.4% with placebo. Phase 3 is already in progress.
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Novo Nordisk has gone even further. Its candidate cagrilintide produced 11.8% weight loss against 2.3% for placebo over a 68-week period; its phase 3 program began in late 2025. A combination drug program called CagriSema, which contains cagrilintide plus semaglutide (the active ingredient of Ozempic and Wegovy), was submitted to the U.S. Food and Drug Administration (FDA) in December, with review expected this year.
The combination approach is popular, too So Viking Therapeutics won't be the first to market with its amylin program, even if its clinical trials go swimmingly.
But Viking already owns VK2735, a dual agonist of the GLP-1 and glucose-dependent insulinotropic polypeptide (GIP) receptors that's in phase 3 trials. Pairing it with an amylin candidate like VK3019 could deliver the results that would keep the company relevant in the next round of the competition in weight loss drugs. And, as a pre-revenue biotech, it wouldn't even need to win that much of the market for its shares to see meaningful gains.
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The catch is that Lilly is already running that exact play. A phase 1 study of eloralintide administered with tirzepatide (Mounjaro, Zepbound) has completed, and a phase 3 trial adding eloralintide to a weekly incretin is enrolling now. Viking is thus trying to assemble what both incumbents built years ago.
That means VK3019 is going to need to be substantially more effective or more pleasant to take if the biotech is going to secure a large share of the market. It's certainly possible -- but it's very risky to bet on it.
Viking Therapeutics čeká na aktualizace k programu VK2735 proti obezitě; data z pozdních studií VANQUISH-1 a VANQUISH-2 nejsou očekávána dříve než příští rok. Firma zároveň plánuje výsledky SC maintenance ve 3. čtvrtletí 2026.
Key Takeaways Viking Therapeutics' Q2 report is expected to spotlight updates on its VK2735 obesity pipeline.VKTX is advancing late-stage VK2735 studies, with key data not expected before next year.VKTX plans SC maintenance results on VK2735 in Q3 2026 and late-stage oral program initiation in Q4 2026. We expect investors to focus on updates related to Viking Therapeutics’ (VKTX - Free Report) pipeline when it reports second-quarter 2026 earnings. In the last reported quarter, the company’s earnings missed expectations by more than 44%.
Since the company lacks a marketed drug in its portfolio, no revenues are expected to have been recorded. The Zacks Consensus Estimate for earnings is pegged at a loss of $1.21 per share.
Factors Likely to Shape VKTX’s Upcoming ResultsInvestor focus will likely be on pipeline updates. Viking Therapeutics’ lead candidate is VK2735, which is being developed to treat obesity.
The company is conducting two late-stage studies (VANQUISH-1 and VANQUISH-2) on the subcutaneous (SC) formulation of VK2735. While VANQUISH-1 is evaluating the drug in obese adults with at least one weight-related co-morbid condition and without type II diabetes (T2D), VANQUISH-2 is assessing its efficacy in obese or overweight adults with T2D. Data from these studies is not expected before next year.
Investors will likely be seeking updates on the ongoing maintenance dosing study on VK2735, which was initiated last year. This study is evaluating multiple regimens — monthly SC, weekly oral and daily oral dosing — to determine whether the initial weight loss achieved with weekly SC dosing can be sustained. The company had previously announced that it would report SC maintenance results in the third quarter of 2026, followed by oral maintenance results in the first half of 2027.
Investors will also likely be interested in seeking updates from VKTX on the study design for the late-stage program on the oral version of VK2735. Viking Therapeutics had previously announced plans to start the program in the fourth quarter of 2026.
VKTX’s Earnings Surprise HistoryThe biotech firm’s performance has been dismal over the past four quarters. Its earnings missed estimates in each of the trailing four quarters, delivering a negative average surprise of 36.70%.
VKTX Stock PerformanceYear to date, shares of the company have gained more than 3% compared withthe industry’s nearly 2% growth.
Image Source: Zacks Investment Research
What Our Model Predicts for VKTXPer our proven model, companies with the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or#3 (Hold) have a good chance of delivering an earnings beat. This is not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Viking has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks With Favorable CombinationsHere are some drug/biotech stocks that have the right combination of elements to beat on earnings this time around:
Absci Corporation (ABSI - Free Report) has an Earnings ESP of +15.22% and a Zacks Rank #2 at present.
Shares of ABSI have skyrocketed about 136% year to date. The company’s earnings beat estimates in one of the trailing four quarters, while missing the mark on the other three occasions. Agenus delivered an average negative surprise of 17.58%. Absci will report second-quarter 2026 earnings on Aug. 11, after market close.
Edgewise Therapeutics (EWTX - Free Report) has an Earnings ESP of +13.28% and a Zacks Rank #2 at present.
Shares of EWTX have surged 54% year to date. The company’s earnings beat estimates in three of the trailing four quarters while missing out on one occasion, delivering an average surprise of 5.06%.
VKTX přitahuje spekulace o převzetí díky rozšiřující se obezitní pipeline, včetně VK2735 ve fázi III a nového kandidáta VK3019. Další údaje o udržovacím dávkování VK2735 čekají ve 3. čtvrtletí 2026, následované orálními daty v 1. pololetí 2027.
Key Takeaways VKTX is attracting takeover speculation as its expanding obesity pipeline boosts strategic appeal.Viking Therapeutics advanced VK2735 into late-stage studies and added obesity candidate VK3019.VKTX expects key VK2735 maintenance dosing data in Q3 2026, followed by oral data in H1 2027. Although Viking Therapeutics (VKTX - Free Report) isn’t officially on the auction block, investors are increasingly viewing it as a potential acquisition target. This perception stems from the company's rapidly expanding obesity franchise, driven by the late-stage development of VK2735, the addition of a new obesity candidate and an upcoming clinical data readout that could further bolster investor confidence.
Why Is Everyone Talking About VKTX?The renewed takeover speculation isn't driven by reports of an imminent deal. Instead, it reflects Viking's growing strategic value as the company continues to strengthen and diversify its obesity pipeline.
VK2735 remains the company's lead obesity candidate and primary value driver. This dual GLP-1/GIP receptor agonist has delivered encouraging efficacy across both subcutaneous (SC) and oral formulations, positioning it as one of the more promising late-stage obesity therapies currently under development. While the SC version is currently being evaluated in two phase III studies, the oral formulation is on track to enter late-stage development later this year.
Viking has further strengthened its obesity franchise with the initiation of a phase I study evaluating VK3019, a novel dual amylin and calcitonin receptor agonist. The addition of a second obesity candidate demonstrates the company's strategy of building a broader franchise rather than relying on a single asset.
Investors are also closely watching an upcoming data readout from an ongoing maintenance dosing study on VK2735, which could serve as another important catalyst. The study is evaluating multiple maintenance regimens, including monthly SC, weekly oral and daily oral dosing, to determine whether the weight loss achieved with weekly SC treatment can be sustained over the long term. Viking expects to report SC maintenance data in the third quarter of 2026, followed by oral maintenance data in the first half of 2027.
From the viewpoint of large-cap biotech/pharma companies looking to strengthen their presence in the fast-growing obesity market, Viking Therapeutics represents an attractive strategic asset. Acquiring the company would allow a potential buyer to significantly accelerate its obesity pipeline compared with developing a therapy from the ground up. Such a deal could also benefit VKTX, as the clinical-stage biotech could leverage a larger partner's commercial infrastructure, manufacturing capabilities and global distribution network to maximize the reach of its obesity portfolio following potential regulatory approvals.
Competition Heating Up in the Obesity SpaceThe obesity market has garnered significant attention in recent years, as both Eli Lilly (LLY - Free Report) and Novo Nordisk (NVO - Free Report) dominate the space with their respective blockbuster obesity drugs, Zepbound and Wegovy. The obesity market in the United States is expected to reach $100 billion by 2030. To capitalize on this opportunity, both companies have expanded their manufacturing capacity while continuing to invest heavily in next-generation obesity therapies.
Although competition initially centered on once-weekly injectable therapies, the focus has increasingly shifted toward more convenient oral alternatives. Earlier this year, Novo Nordisk launched an oral version of Wegovy, while Eli Lilly introduced Foundayo, marking a significant step toward improving patient convenience and broadening access to obesity treatment.
The competitive landscape is now evolving beyond traditional GLP-1 therapies. Both companies are advancing next-generation candidates designed to deliver greater efficacy and improved patient convenience through multi-target mechanisms. Among them, Eli Lilly's retatrutide, a triple agonist targeting the GLP-1, GIP and glucagon receptors, has demonstrated approximately 28% weight loss in late-stage studies—an efficacy level previously associated primarily with bariatric surgery.
Novo Nordisk is advancing its next-generation obesity pipeline. It has submitted a regulatory filing seeking approval for CagriSema injection, a follow-up drug to Wegovy, while another candidate, amycretin, has shown strong weight-loss efficacy in a phase II study and is expected to enter late-stage development soon.
VKTX’s Price Performance, Valuation and EstimatesShares of Viking Therapeutics have outperformed the industry year to date, as seen in the chart below.
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From a valuation standpoint, VKTX is trading at a premium to the industry. Based on the price-to-book value (P/B) ratio, the company’s shares currently trade at 9.24 times trailing book value, higher than the industry’s 3.69 times. The stock is also trading above its five-year mean of 4.35.
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Estimates for Viking’s 2026 loss per share have widened from $4.67 to $4.70 in the past 60 days. During the same timeframe, loss estimates for 2027 have increased from $4.40 to $4.47.
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Viking Therapeutics currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Viking Therapeutics testuje VK2735 na hubnutí a diabetes; pokud klinické zkoušky uspějí, firma by mohla být koupena větším farmaceutickým hráčem. Kandidát ve fázi 2 ukázal až 14,7% úbytek hmotnosti za 13 týdnů.
The short, but glib, answer to the headline question posed for Viking Therapeutics (VKTX 0.32%) investors is "no," because the likelihood is that the $4.6 billion market cap company will be bought up by a larger pharmaceutical company if it has success in its clinical trials, and particularly with its lead drug candidate VK2735. Still, that doesn't mean the company can't deliver substantial value to investors. Here's why.
A competitive market for VK2735 VK2735 is a dual GLP-1/GIP agonist in development for weight loss and diabetes management. It's part of a growing and popular class of drugs that already dominate the weight loss market, thanks to blockbuster drugs like Eli Lilly's (LLY +1.35%) Zepbound (tirzepatide) and Novo Nordisk's (NVO +3.29%) Wegovy (semaglutide).
Image source: Getty Images.
At which point, investors are entitled to ask how Viking can hope to grab market share in a competitive market. It's a market where Eli Lilly and Novo Nordisk already have blockbusters, have oral weight loss pills approved, and continue to develop new drugs in the GLP-1 class.
What makes VK2735 different Viking's VK2735 has a couple of qualities that set it apart from the competition.
First, it's in development as a dual-formulation therapy. This raises the potential for it to be initially administered as an injectable to rapidly lose weight, then shifted to a less intrusive, more convenient oral dose for maintenance.
Second, VK2735 has demonstrated, in both injectable and oral form, an ability to significantly reduce weight loss. Note that the mid-teens percentage baseline weight loss in the two phase 2 VK2735 trials occurred at 13 weeks, compared to much longer periods for the Eli Lilly and Novo Nordisk oral offerings.
This raises the prospect of rapid weight loss over, say, a few months using the injectable form, before switching to the oral form for maintenance or to continue weight loss. This sort of option might be more attractive for many over taking oral pills for a year and a half to produce similar results.
Company
Clinical Trial
Drug Name
Formulation
Peak Weight Loss
Time to Peak Results
Current status
Novo Nordisk
Phase 3
Wegovy (semaglutide)
Oral
16.6%
64 weeks
Approved December 2025
Eli Lilly
Phase 3
Foundayo (orforglipron)
Oral
12.4%
72 weeks
Approved April 2026
Viking
Phase 2
VK2735
Subcutaneous
14.7%
13 weeks
Phase 3 results due mid to late 2027
Viking
Phase 2
VK2735
Oral
12.2%
13 weeks
Phase 3 results due late 2028 or early 2029
Data source: Company presentations.
To that end, Viking is conducting a phase 1 maintenance study in which participants will take injectable VK2735 for 19 weeks before moving to a maintenance dose, including weekly, biweekly, and monthly injectable dosing, as well as daily and weekly oral dosing. The results from the subcutaneous dosing are due for release in the third quarter of this year, but investors will have to wait until early 2027 for the oral dosing data.
The bears' viewpoint The glass-half-empty view holds that, aside from the phase 1 maintenance data, it won't be until late 2027 that Viking starts reporting phase 3 results for subcutaneous VK2735, and until 2028 for oral VK2735. Investors will need to be patient, and a lot can happen in that time.
In addition, the phase 2 oral trial has questionable safety and tolerability data, with a 20% discontinuation rate due to adverse events in the treated group, compared with 13% in the placebo group.
Today's Change
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Current Price
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37.36
A stock to buy? The bullish case argues that the titration in the phase 2 oral trial was too aggressive (note the 13-week dosing period) and that the phase 3 data will likely improve on it after management adjusts the titration. In addition, the phase 1 maintenance trial is expected to be successful and demonstrate the potential of the dual-formulation approach.
All told, there's a lot to like about Viking Therapeutics, and it wouldn't be surprising to see a larger company move in if the phase 1 maintenance trial data are good.
Viking Therapeutics zahájila fázi 1 studie VK3019, nového agonisty receptorů amylinu a kalcitoninu, u zdravých dospělých s BMI alespoň 30. Studie má prověřit bezpečnost, snášenlivost a farmakokinetiku.
Single ascending dose study evaluating safety, tolerability, and pharmacokinetics of VK3019
Potential to further expand Viking's treatment options for weight loss
, /PRNewswire/ -- Viking Therapeutics, Inc. ("Viking") (NASDAQ: VKTX), a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders, announced today the initiation of a Phase 1 single ascending dose (SAD) clinical trial of VK3019, an investigational dual amylin and calcitonin receptor agonist (DACRA). VK3019 is being developed as a potential treatment option for weight loss. The study initiation follows the filing and clearance of VK3019's investigational new drug (IND) application with the U.S. Food and Drug Administration (FDA).
The Phase 1 trial is a randomized, double-blind, placebo-controlled SAD study in healthy adults with BMI ≥30. The primary objectives of the study include evaluating the safety, tolerability, and pharmacokinetics of single subcutaneous doses of VK3019. Exploratory pharmacodynamic assessments include evaluations of changes in body weight after a single-dose administration.
"The initiation of VK3019's Phase 1 study marks an important expansion of our portfolio of novel therapies designed to optimize the weight loss journey for patients and their physicians," said Brian Lian, Ph.D., chief executive officer of Viking. "Therapies that target amylin and calcitonin receptors may potentially be used alone or in combination with GLP-1 or dual GLP-1/GIP agonists to improve the induction of weight loss as well as for longer-term weight management. Given the complexity of managing obesity and related metabolic conditions, broadening the potential treatment options is crucial to meeting the diverse needs of individuals seeking safe and sustainable weight loss."
Preclinical data from Viking's internally developed DACRAs showed impressive effects on body weight, food intake, and metabolism in healthy rats and diet-induced obese (DIO) mice compared to control-treated animals. Results showed Viking's DACRAs reduced food intake in lean rats within 0 to 72 hours after a single dose. At 72 hours, these compounds reduced body weight by up to 8% compared to controls.
In addition to the Phase 1 trial of VK3019, Viking is currently conducting the Phase 3 VANQUISH studies of subcutaneous VK2735, a dual agonist of the glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors, in patients with obesity or who are overweight. The VANQUISH program consists of two trials evaluating VK2735: one in adults with obesity (VANQUISH-1), and another in adults with obesity and type 2 diabetes (VANQUISH-2). Each study is a randomized, double-blind, placebo-controlled, multicenter trial designed to assess the efficacy and safety of VK2735 administered by subcutaneous injection once weekly for 78 weeks.
In parallel with the development of a subcutaneous formulation, Viking is advancing an oral tablet formulation of VK2735. If successful, oral VK2735 would represent the first oral dual agonist to reach the market. The company believes the availability of both oral and injectable formulations is a key differentiating feature of VK2735, compared with competitive agents, as no other dual or triple agonist is currently available in both formulations. Using the same active ingredient across formulations may also reduce the risk of unexpected side effects compared with switching between therapies that do not share the same active agent. The company plans to initiate a Phase 3 trial to evaluate oral VK2735 for the treatment of obesity and overweight later this year.
Based on VK2735's promising efficacy and differentiated pharmacokinetic (PK) profile, the company is evaluating a range of novel dosing regimens for both the induction and the long-term maintenance of weight loss. In October 2025, Viking initiated a Phase 1 study designed to explore the feasibility of various VK2735 maintenance dosing regimens. Providing flexible dosing options for long-term therapy may improve treatment persistence following achievement of individual weight loss goals. The company believes this may lead to improved adherence to therapy and increase the probability of realizing the long-term benefits of weight loss, such as reduced cardiovascular risks, improved physical function, and enhanced quality of life. The company expects to report the results of the study in 3Q26.
About VK3019
VK3019 is an investigational dual amylin and calcitonin receptor agonist (DACRA) in development as a potential new treatment option for weight loss. It is currently being evaluated in a single ascending dose study assessing safety, tolerability, and pharmacokinetics of VK3019 for the treatment of metabolic disorders and obesity.
About Amylin and Calcitonin
Amylin and calcitonin receptors play an important role in food intake and metabolic control. Amylin is a peptide hormone co-secreted with insulin from pancreatic β-cells that slows gastric emptying and suppresses postprandial glucagon secretion, promoting satiety and regulating blood glucose. After a meal, amylin is secreted from the pancreas and circulates in the blood to activate specific receptors in the brainstem. This results in suppression of glucagon release from the pancreas, reduced food intake, and slowed gastric emptying. The net effect of these actions is to decrease blood glucose and is associated with longer-term reductions in body weight. Calcitonin is a peptide hormone produced by the thyroid gland known for its role in regulating calcium homeostasis. To date, the addition of calcitonin receptor activation by DACRAs has demonstrated additional metabolic benefits not seen with amylin receptor activation alone, such as improved fasting glucose regulation and insulin sensitivity, and can result in a more acute reduction of food intake and greater body weight loss.
About GLP-1 and Dual GLP-1/GIP Agonists
Activation of the glucagon-like peptide 1 (GLP-1) receptor has been shown to decrease glucose, reduce appetite, lower body weight, and improve insulin sensitivity in patients with type 2 diabetes, obesity, or both. Semaglutide is a GLP-1 receptor agonist that has been approved by the U.S. Food and Drug Administration and is currently marketed in various dosage strengths and forms as Ozempic®, Rybelsus®, and Wegovy®. More recently, research efforts have explored the potential co-activation of the glucose-dependent insulinotropic peptide (GIP) receptor as a means of enhancing the therapeutic benefits of GLP-1 receptor activation. Tirzepatide is a dual GLP-1/GIP receptor agonist that has been approved by the U.S. Food and Drug Administration and is currently marketed in various dosage strengths and forms as Mounjaro® and Zepbound®.
About Viking Therapeutics, Inc.
Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development of novel first-in-class or best-in-class therapies for the treatment of metabolic and endocrine disorders. Viking's research and development activities leverage its expertise in metabolism to develop innovative therapeutics designed to improve patients' lives. Viking's clinical programs include VK2735, a novel dual agonist of the glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors for the potential treatment of various metabolic disorders. The company is evaluating its subcutaneous formulation of VK2735 in a Phase 3 obesity program that includes two Phase 3 clinical trials (VANQUISH-1 and VANQUISH-2). Data from a Phase 1 and a Phase 2 trial evaluating subcutaneous VK2735 demonstrated an encouraging safety and tolerability profile as well as positive signs of clinical benefit. Concurrently, the company is evaluating an oral formulation of VK2735 in obesity. Viking is also developing VK2809, a novel, orally available, small molecule selective thyroid hormone receptor beta agonist for the treatment of lipid and metabolic disorders. The compound successfully achieved both the primary and secondary endpoints in a Phase 2b study for the treatment of biopsy-confirmed non-alcoholic steatohepatitis (NASH) and fibrosis. In a Phase 2a trial for the treatment of non-alcoholic fatty liver disease (NAFLD) and elevated LDL-C, patients who received VK2809 demonstrated statistically significant reductions in LDL-C and liver fat content compared with patients who received placebo. The company's newest program is evaluating a series of internally developed dual amylin and calcitonin receptor agonists (or DACRAs) for the treatment of obesity and other metabolic disorders. In the rare disease space, Viking is developing VK0214, a novel, orally available, small molecule selective thyroid hormone receptor beta agonist for the potential treatment of X-linked adrenoleukodystrophy (X-ALD). In a Phase 1b clinical trial in patients with the adrenomyeloneuropathy (AMN) form of X-ALD, VK0214 was shown to be safe and well-tolerated, while driving significant reductions in plasma levels of very long-chain fatty acids (VLCFAs) and other lipids, as compared to placebo.
For more information about Viking Therapeutics, please visit www.vikingtherapeutics.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding Viking Therapeutics, Inc., under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements about Viking's expectations regarding its clinical and preclinical development programs, anticipated timing for reporting clinical data and cash resources. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and adversely and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: risks associated with the success, cost and timing of Viking's product candidate development activities and clinical trials, including those for VK2735, VK3019, VK0214, VK2809, and the company's other incretin and other receptor agonists; risks that prior clinical and preclinical results may not be replicated; risks regarding regulatory requirements; and other risks that are described in Viking's most recent periodic reports filed with the Securities and Exchange Commission including Viking's Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent Quarterly Reports on Form 10-Q, including the risk factors set forth in those filings. These forward-looking statements speak only as of the date hereof. Viking disclaims any obligation to update these forward-looking statements except as required by law.
