Viking Therapeutics Advances VANQUISH Phase 3, Sets Q4 2026 Oral Phase 3 Start, and Expands Franchise with Amylin Agonist
Viking Therapeutics, Inc. (NASDAQ: VKTX) continues to progress its clinical pipeline and commercial readiness as of late Q3 2026. The San Diego-based clinical-stage biopharmaceutical firm is positioning its dual GLP-1/GIP receptor agonist, VK2735, as a highly competitive next-generation obesity asset.
Subcutaneous and Oral Phase 3 Timelines Confirmed
In its Q2 2026 corporate update, Viking confirmed that its Phase 3 VANQUISH-1 and VANQUISH-2 clinical trials evaluating the subcutaneous formulation of VK2735 are fully enrolled and proceeding according to plan.
Concurrently, Viking is preparing to advance the oral tablet formulation of VK2735 into Phase 3 development, with trials scheduled to initiate in the fourth quarter of 2026. If successful, VK2735 is positioned to become the first oral dual GLP-1/GIP agonist to reach the market, offering a major competitive threat to single-agonist oral options from Eli Lilly and Novo Nordisk.
Impending Phase 1 Maintenance Dosing Readout
A highly anticipated near-term catalyst is the topline data from Viking's exploratory Phase 1 maintenance dosing study of VK2735, expected before the end of Q3 2026. The trial enrolled 180 patients who received weekly subcutaneous doses of VK2735 or placebo for a 19-week induction period, after which they transitioned to various maintenance regimens (including weekly, biweekly, monthly subcutaneous, and daily oral dosing, or placebo). A successful readout would demonstrate the viability of flexible long-term maintenance dosing, addressing a major commercial need in chronic weight management.
Financial Runway
As of June 30, 2026, Viking maintains a robust financial position to fund its expansive late-stage clinical programs. The company holds a market capitalization of $4.07 billion, with $125.8 million in cash against just $4.1 million in total debt. While the firm reported an operating loss of $132.6 million for the second quarter of 2026 (reflecting zero revenue as a clinical-stage biotechnology company), its cash runway remains highly supportive of its current Phase 3 initiatives.