Shares of Viking Therapeutics VKTX rose about 9% on Wednesday after the company expanded its obesity pipeline by advancing a second drug candidate into clinical development.
The biotech initiated a phase I single-ascending-dose (SAD) study evaluating VK3019, an investigational dual amylin and calcitonin receptor agonist (DACRA), marking the candidate’s first evaluation in humans. The purpose of the study is to assess the safety, tolerability, pharmacokinetics (PK) and pharmacodynamics (PD) of single subcutaneous doses of VK3019 in healthy individuals.
The study initiation represents a significant milestone for Viking Therapeutics, diversifying its obesity pipeline beyond its lead candidate, VK2735.
Unlike VK2735, which targets GLP-1 and GIP receptors, VK3019 is designed to activate amylin and calcitonin receptors. The company believes therapies targeting these receptors could potentially be used either as standalone treatments or in combination with GLP-1 or GLP-1/GIP-based therapies to improve weight-loss induction and support longer-term weight management.
Viking Therapeutics also highlighted encouraging preclinical data supporting the program, which showed that DACRAs reduced food intake in lean rats within 72 hours of a single dose and lowered body weight by up to 8% compared with controls. The compounds also demonstrated favorable metabolic effects in diet-induced obese mice.
Beyond reducing pipeline concentration risk, the addition of VK3019 could strengthen Viking's strategic value as a potential acquisition or partnership target for larger pharmaceutical/biotech companies looking to expand their obesity portfolios.
VKTX Stock’s Performance
Year to date, the company’s shares have gained nearly 8% compared with the industry’s 2% growth.
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VK2735 Remains VKTX’s Primary Focus
While VK3019 broadens Viking Therapeutics' obesity pipeline, VK2735 remains the company's lead obesity candidate and primary value driver. This dual GLP-1/GIP receptor agonist has delivered encouraging efficacy across both subcutaneous (SC) and oral formulations, positioning it as one of the more promising late-stage obesity therapies currently under development.
The company is currently evaluating the SC formulation of VK2735 in two pivotal phase III studies. While VANQUISH-1 is enrolling obese or overweight adults with at least one weight-related comorbidity but without type II diabetes (T2D), VANQUISH-2 is assessing the drug in obese or overweight adults with T2D. Viking is on track to initiate late-stage studies of the oral formulation of VK2735 later this year.
However, investors are likely to focus more closely on the upcoming data from the ongoing maintenance dosing study. This study is evaluating multiple regimens — including monthly SC, weekly oral and daily oral dosing — to determine whether the weight loss achieved with weekly SC administration can be maintained over the long term. Viking expects to report SC maintenance data in the third quarter of 2026, followed by oral maintenance data in the first half of 2027.
Competition Intensifies in the Obesity Space
The obesity market has garnered significant attention in recent years, as both Eli Lilly LLY and Novo Nordisk NVO dominate the space with their respective blockbuster obesity drugs, Zepbound and Wegovy. The obesity market in the United States is expected to reach $100 billion by 2030. To capitalize on this opportunity, both companies have expanded manufacturing capacity while continuing to invest heavily in next-generation obesity therapies.
Although competition initially centered on once-weekly injectable therapies, the focus has increasingly shifted toward more convenient oral alternatives. Earlier this year, Novo Nordisk launched an oral version of Wegovy, while Eli Lilly introduced Foundayo, marking a significant step toward improving patient convenience and broadening access to obesity treatment.
The competitive landscape is now evolving beyond traditional GLP-1 therapies. Both companies are advancing next-generation candidates designed to deliver greater efficacy and improved patient convenience through multi-target mechanisms. Among them, Eli Lilly's retatrutide, a triple agonist targeting the GLP-1, GIP and glucagon receptors, has demonstrated approximately 28% weight loss in late-stage studies—an efficacy level previously associated primarily with bariatric surgery.
Novo Nordisk is advancing its next-generation obesity pipeline. It has submitted a regulatory filing seeking approval of CagriSema injection, a follow-up drug to Wegovy, while another candidate, amycretin, has shown strong weight-loss efficacy in a phase II study and is expected to enter late-stage development soon.
As the competitive landscape shifts toward next-generation obesity therapies with differentiated mechanisms, Viking Therapeutics is broadening its own pipeline. The addition of VK3019 complements VK2735, positioning Viking to compete across multiple therapeutic pathways in the rapidly evolving obesity market.
Viking Therapeutics, Inc. Price
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VKTX’s Zacks Rank
Viking Therapeutics currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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