Viking expects oral VK2735 Phase 3 studies to begin in Q4 and believes the pill could become the first oral dual GLP-1 agonist to reach the market.
- VKTX has fallen about 15% over the past month, underperforming other major weight-loss stocks and heading toward a third straight weekly decline.
- Viking reported a Q2 loss of $1.10 per share, narrower than the $1.15 loss analysts expected but wider than $0.58 a year earlier.
- Lead obesity drug VK2735 is being developed as both a weekly injection and daily pill, with both injectable Phase 3 trials fully enrolled.
Shares of Viking Therapeutics, Inc. (VKTX) have been July’s biggest laggard among weight-loss stocks, but CEO Brian Lian says the company’s lead obesity drug could stand out by giving patients multiple treatment options, including a weekly shot, a daily pill and potentially less-frequent dosing to help keep weight off.
VKTX stock fell 1% on Wednesday, extending its weekly decline to 4% and putting the shares on track for a third consecutive week of losses.
Over the past month, VKTX has fallen 15%, compared with declines of 8% for Structure Therapeutics (GPCR), 2% for Eli Lilly (LLY) and 1% for Altimmune (ALT), while Novo Nordisk (NVO), Amgen (AMGN), Terns Pharmaceuticals (TERN) and Regeneron (REGN) have posted gains.
Viking Touts VK2735 Competitive Edge
Late Wednesday, Viking posted a loss of $1.10 per share for the second quarter (Q2), better than the $1.15 loss analysts had expected, but wider than the $0.58 loss a year earlier. The company remains pre-revenue, making clinical progress the key focus for investors.
Viking’s lead obesity drug, VK2735, is being developed as both a weekly injection and a daily pill. Its two Phase 3 Vanquish trials of the injectable version are fully enrolled and advancing according to plan, while two Phase 3 studies of the oral version are expected to begin in the fourth quarter. Lian said Viking believes the oral version could become the first dual GLP-1/GIP agonist pill to reach the market. The company is also testing whether patients can maintain weight loss with injections given every other week or once a month. Results from that study are due later this quarter.
Lian said on the company’s latest earnings call: “We will have, if we're successful, a product that is very effective on a weekly basis. We think probably very effective on an oral basis, then potentially very effective with a reduced dosing frequency sort of option, and no one else has that.” He also called VK2735’s profile “really competitive” and “differentiated from other advanced programs.”
VK2735 Shows Up To 15% Weight Loss
In Phase 2, injectable VK2735 delivered up to 15% average weight loss after 13 weekly doses with “no signs of plateau,” while the oral version produced up to 12% average weight loss over 13 weeks. Up to 80% of oral-treated patients lost at least 10% of their body weight, versus 5% on placebo, and Viking said gastrointestinal side effects at planned doses were not meaningfully different from placebo.
Viking Tests Monthly Obesity Dosing
Viking is now testing whether patients can maintain weight loss with weekly, every-other-week or monthly dosing after initial treatment. Management hopes to identify two to four regimens for further study and believes retaining about 75% to 80% of initial weight loss could preserve long-term health benefits. Oral maintenance regimens are also planned, with that portion expected to wrap up in the first half of 2027.
Viking has also started Phase 1 testing of VK3019, a separate experimental obesity drug targeting amylin and calcitonin receptors. Preclinical studies showed up to 8% weight reduction versus controls after a single dose. Lian said adding an amylin drug to a GLP-1 treatment has typically improved efficacy by 40% to 50%, and a similar boost on top of VK2735 could deliver an “industry-leading level of efficacy.” A combination program would not enter clinical testing until 2027 at the earliest.
How Do Retail Traders Feel About VKTX?
On Stocktwits, retail sentiment for VKTX was ‘bearish’ amid ‘normal’ message volume.
One user said, “$VKTX I don’t believe this is a CEO that is seeing negative tolerability or efficacy on VK2735 and would still state below. Particularly this CEO. He is taking a shot at $LLY TZP”
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Another user noted, “$VKTX CEO brags about his amylin VK3019 potency vs other amylins in animals. Not sure how much of that head to head. But Vk worked on preclinical Amylin for years.”
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VKTX stock is up 2% over the past year.
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