Viking Therapeutics Reaches Key Enrollment Milestone in Obesity Drug Trial

Viking Therapeutics fully enrolls VANQUISH-2 Phase 3 trial for its dual GLP-1/GIP agonist VK2735 in obesity with type 2 diabetes. Top-line results expected mid-2027.

Viking Therapeutics has successfully completed patient enrollment for the VANQUISH-2 Phase 3 clinical study, marking a significant step forward for its lead metabolic drug candidate. The company announced on March 26, 2026, that this crucial trial segment for VK2735, a dual GLP-1/GIP receptor agonist, is now fully underway. The development timeline for this therapeutic has been notably rapid, progressing from Phase 1 to Phase 3 studies in approximately three years.

Study Design and Anticipated Outcomes

VANQUISH-2 is a randomized, double-blind, and placebo-controlled investigation involving roughly 1,000 participants. The study cohort consists of individuals diagnosed with obesity or who are overweight and also have type 2 diabetes. Participants will receive weekly subcutaneous injections at one of three dosage levels—7.5 mg, 12.5 mg, or 17.5 mg—over a 78-week treatment period.

The primary endpoint for the trial is the percentage change in body weight from the baseline measurement. Researchers will be comparing these results against data from the earlier Phase 2 VENTURE study conducted in 2024. That previous trial demonstrated a mean weight reduction of up to 14.7% after just 13 weeks of treatment.

This enrollment completion follows the achievement of a similar recruitment goal for the parallel VANQUISH-1 study in November 2025. Initial top-line results from both of these pivotal Phase 3 trials are anticipated starting in mid-2027.

Upcoming Catalysts and Market Sentiment

An earlier data readout is expected before the Phase 3 results. Findings from a Phase 1 study investigating maintenance dosing regimens are scheduled for release in the third quarter of 2026. This trial is exploring not only the weekly 17.5 mg subcutaneous dose but also monthly and bimonthly administration schedules in both oral and injectable formulations.

Following the enrollment announcement, the investment firm William Blair reaffirmed its "Outperform" rating on Viking Therapeutics. Analyst consensus appears broadly positive, with 19 current ratings recommending purchase of the shares compared to three advising investors to hold. The price target range, however, is wide—spanning from $35 to $125 per share—highlighting significant uncertainty regarding the drug's ultimate commercial potential. Viking's market capitalization stands at approximately $3.88 billion, with its stock trading between $33.59 and $34.25.

The company is pursuing a dual-path development strategy for VK2735, advancing both subcutaneous and oral formulations. This approach could enhance Viking's appeal as a potential partner or acquisition target within the highly competitive metabolic disease market, provided the upcoming clinical data successfully confirms the promising efficacy observed in earlier studies.