Viking Therapeutics captured global biotech attention at ObesityWeek 2025 after unveiling a detailed update on its lead metabolic-disease candidate, VK2735, a dual GLP-1/GIP receptor agonist being advanced in both injectable and oral forms. The new data, presented to an audience of clinicians and analysts, reinforced VK2735’s potential to rival Eli Lilly’s Mounjaro and Novo Nordisk’s Wegovy, two blockbusters that have defined the modern weight-loss market.
The presentation emphasized that VK2735 produced robust and sustained body-weight reductions across multiple clinical studies, maintaining a clean safety profile with low discontinuation rates. The company’s dual-formulation approach — simultaneously advancing an oral tablet and a subcutaneous injection — was a key talking point at the conference, underscoring Viking’s ambition to capture both the high-adherence oral segment and the rapid-acting injectable market.
Investor enthusiasm followed quickly. Viking Therapeutics’ stock (NASDAQ: VKTX) traded near $38 following the session, reflecting steady confidence in the company’s obesity-franchise trajectory and its growing credibility as a mid-cap challenger to established GLP-1 giants.
How did Viking Therapeutics’ VK2735 achieve clinically meaningful weight loss compared with existing GLP-1 drugs in the same class?
VK2735 works by activating two metabolic pathways simultaneously — the glucagon-like peptide-1 (GLP-1) receptor, which reduces appetite and slows gastric emptying, and the glucose-dependent insulinotropic polypeptide (GIP) receptor, which enhances insulin sensitivity and energy utilization. This dual-agonist mechanism aims to extend metabolic benefits while mitigating gastrointestinal side effects that limit higher dosing in other GLP-1 therapies.
In Viking’s Phase 2 VENTURE trial, patients receiving weekly VK2735 injections achieved up to 14.7 percent mean weight loss after 13 weeks, far exceeding placebo outcomes. The data also demonstrated a clear, dose-dependent response curve with no plateau effect during the trial window — a finding that impressed attendees because weight-loss efficacy in rival GLP-1 drugs often stabilizes after about three months.
The company’s oral multiple-ascending-dose (MAD) Phase 1 trial echoed those trends. Participants taking VK2735 tablets once daily for 28 days achieved as much as 8.2 percent weight reduction from baseline, with continued improvement observed through day 57, even after dosing stopped. Nearly 99 percent of all treatment-emergent adverse events were mild or moderate, and only a small fraction of participants discontinued therapy. That tolerability profile, coupled with sustained metabolic benefit, has become one of VK2735’s most compelling differentiators.
Analysts noted that VK2735’s early performance matches or surpasses oral competitors like Lilly’s orforglipron and Novo Nordisk’s amycretin. If later-stage studies replicate these results, Viking could secure a lucrative foothold among next-generation obesity therapeutics targeting the dual-agonist space.
Why is Viking Therapeutics advancing both injectable and oral versions of VK2735, and how could this reshape obesity care delivery worldwide?
Viking Therapeutics’ twin-track strategy is more than hedging — it is a deliberate bid to solve one of obesity treatment’s biggest obstacles: patient adherence. Injectable drugs deliver faster onset and stronger initial metabolic response but are expensive to produce and often lead to “needle fatigue.” Oral drugs, on the other hand, are easier to distribute globally and better aligned with long-term lifestyle therapy.
Chief Executive Officer Brian Lian has emphasized that VK2735’s oral tablet could act as a maintenance therapy following an initial injectable phase, supporting chronic weight-management without the burden of weekly injections. This strategy mirrors combination care models used in diabetes, potentially extending patient adherence and payer acceptance.
The company’s Phase 3 VANQUISH program, launched earlier this year, is now recruiting for a pivotal obesity trial as well as a separate cohort in patients with type 2 diabetes. Viking expects to begin dosing before year-end and deliver top-line data in 2026. Meanwhile, additional oral studies are fine-tuning bioavailability and dose optimization to enable global registration filings in parallel.
From a healthcare-system perspective, such versatility could prove transformative. Oral delivery opens access to markets in Asia, Latin America, and Europe where cold-chain infrastructure limits injectable distribution. It also reduces manufacturing and logistics costs — factors that could accelerate reimbursement and expand coverage among public insurers.
Clinically, the dual-formulation design could allow for combination regimens that use injectable VK2735 for rapid weight reduction and the oral form for long-term stabilization. Early modeling by metabolic specialists presented at ObesityWeek suggested this approach might reduce the likelihood of rebound weight gain, a key unmet need in obesity management.
What are analysts and investors watching as Viking Therapeutics moves toward its pivotal Phase 3 trials and commercial inflection point?
Investor sentiment around Viking Therapeutics remains constructively optimistic. Shares have traded within a $35–$39 band over recent weeks, reflecting both enthusiasm and prudence as the company approaches its largest clinical test. Daily trading volumes spiked to nearly four million shares during ObesityWeek, signaling renewed institutional interest.
Equity analysts describe VK2735 as one of the most credible “second-wave” entrants in the GLP-1/GIP field. Jefferies recently reiterated a Buy rating, noting Viking’s consistent clinical execution and its strong capital base of over $600 million in cash and equivalents. TD Cowen’s analysts highlighted that the company can self-fund all Phase 3 programs without additional dilution — a rare advantage among mid-cap biotech peers.
Nevertheless, the competitive landscape is formidable. Eli Lilly’s tirzepatide has demonstrated up to 15 percent weight reduction in pivotal trials, while Novo Nordisk continues to expand semaglutide into cardiovascular and kidney indications. For Viking, success depends on demonstrating equivalent efficacy with a simplified dosing profile, stronger tolerability, and lower cost of goods — all achievable targets given VK2735’s current pharmacokinetic data.
Market observers also note growing excitement around potential strategic partnerships. Several multinational pharmaceutical companies lacking a GLP-1 franchise may seek co-development or licensing opportunities once Phase 3 data mature. If such a deal materializes, it could dramatically accelerate global commercialization and unlock shareholder value well before regulatory approval.
How could Viking Therapeutics’ VK2735 influence the next generation of obesity and metabolic-disease therapies?
The obesity-drug industry is entering a second growth wave focused on dual- and triple-pathway modulation, integrating metabolic, inflammatory, and endocrine targets. VK2735 sits squarely in this evolution. By simultaneously engaging GLP-1 and GIP receptors, the compound may deliver more comprehensive metabolic control — improving insulin sensitivity, reducing visceral fat, and enhancing cardiovascular outcomes beyond weight reduction alone.
Global demand for effective, affordable obesity drugs remains staggering. Morgan Stanley projects annual sales exceeding $130 billion by 2030, while the World Obesity Federation estimates that more than one billion adults will be clinically obese by 2035. Analysts believe Viking Therapeutics’ flexible formulation portfolio could allow it to tap into multiple subsegments, from hospital-based obesity programs to telehealth prescription platforms targeting weight management and diabetes prevention.
Longer term, VK2735 could also find therapeutic applications in non-alcoholic steatohepatitis (NASH) and atherosclerotic cardiovascular disease, where metabolic dysfunction drives comorbid risk. Viking’s early pipeline includes additional GLP-1-based compounds, and executives have hinted that positive VK2735 data could support combination trials addressing these adjacent markets.
As Viking moves deeper into late-stage development, the company is transitioning from a clinical-stage innovator to a potential commercial entity. The scale of this transition mirrors what occurred when GLP-1 therapies first redefined diabetes care a decade ago — a shift from niche metabolic intervention to mass-market lifestyle therapy. If Viking executes effectively, VK2735 could emerge not merely as another entrant in the GLP-1 race, but as a cornerstone molecule bridging pharmacological efficacy and real-world accessibility. Analysts suggest that a successful Phase 3 outcome could position Viking as a buyout candidate or a strategic partner of choice for a global pharmaceutical major seeking metabolic portfolio expansion.
The broader narrative is clear: obesity therapeutics are no longer just a subsector of endocrinology — they are evolving into one of the defining frontiers of preventive medicine. In that context, VK2735 stands as both a scientific milestone and a commercial opportunity, symbolizing how smaller biotech innovators are shaping the next decade of global health economics.
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