Viking Therapeutics Approaches Key 2026 Milestones in Obesity Drug Development

Viking Therapeutics advances VK2735 with Phase 3 trials fully enrolled, strong cash reserves, and upcoming data catalysts for its weight-loss drug candidate in 2026-2027.

Viking Therapeutics is advancing toward a series of pivotal clinical data readouts that will shape the future of its weight-loss drug candidate, VK2735. The biopharmaceutical company has recently achieved significant operational progress, with two Phase 3 trials fully enrolled and a third on the cusp of initiation.

Financial Backing and Upcoming Shareholder Meeting

The company’s financial position appears robust as it funds its clinical pipeline. As of year-end, Viking reported holding $706 million in cash and equivalents, which management states is sufficient to finance upcoming clinical and operational milestones. Investor interest is growing, as evidenced by recent institutional activity. In the fourth quarter of 2025, Formidable Asset Management increased its stake by 44.8%, bringing its holding to 69,885 shares. Banque Pictet & Cie amplified its position more dramatically, raising it by 281.7% to 35,026 shares, valued at approximately $1.23 million.

Shareholders will convene virtually for the Annual Meeting on May 19, 2026. The agenda includes the election of two directors and the ratification of the independent registered public accounting firm.

VANQUISH Program Enrollment Complete

A major step forward has been achieved with the VANQUISH program for the subcutaneous formulation of VK2735. Viking announced on March 26, 2026, that patient recruitment for the VANQUISH-2 study is now complete. This randomized, placebo-controlled trial involves approximately 1,000 adults with type 2 diabetes and overweight or obesity. Participants are receiving a once-weekly injection of VK2735 over a 78-week period. The study’s primary goal is to measure the percentage change in body weight from baseline. Top-line results from both VANQUISH trials are anticipated in 2027.

Oral Formulation Advances and Upcoming Data Catalysts

Concurrently, Viking is preparing to launch a Phase 3 trial for an oral tablet version of VK2735. Following a positive End-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA), the company plans to commence this study in the third quarter of 2026. Phase 2 data for the oral candidate has shown promise, with subjects achieving a statistically significant mean weight reduction of up to 12.2% from baseline after 13 weeks of once-daily treatment.

The latter half of 2026 is set to be a critical period, marked by several key data events. Alongside the oral formulation's Phase 3 start, the company expects to report results from a maintenance dosing study in Q3 2026. This investigation explores whether VK2735 remains effective when administered monthly and whether patients can transition from subcutaneous to oral dosing. Positive outcomes here could uniquely position VK2735 as the only dual GLP-1/GIP agonist with a potential monthly dosing option.

With the initiation of data analysis for the VANQUISH studies, the maintenance dosing readout, and the oral formulation's Phase 3 kickoff, the coming months represent a concentrated sequence of decisive moments for Viking Therapeutics.