Viking Therapeutics’ VK2735 Shows 14.7% Weight Loss, Phase 3 Enrollment Complete
Viking Therapeutics’ dual GIP/GLP-1 agonist VK2735 showed 14.7% weight loss in a phase 2 injectable trial after 13 weeks and is in a 78-week phase 3 study that completed enrollment in late 2025. Wall Street’s $93.39 average target implies 175% upside, but pivotal phase 3 data won’t arrive until 2027.
1. Promising Phase 2 Results for VK2735
Viking Therapeutics’ lead candidate, VK2735, has demonstrated robust efficacy in its phase 2 trial of the injectable formulation, with participants experiencing up to 14.7% mean body-weight reduction over a 13-week period and showing no evidence of plateauing weight loss. These data position VK2735 as a credible competitor to established dual GIP/GLP-1 receptor agonists and underscore the compound’s potential to capture a meaningful share of the projected $100 billion obesity treatment market by decade’s end.
2. Late-Stage Development Timelines
The subcutaneous version of VK2735 is currently enrolled in a 78-week phase 3 study, having completed enrollment in late 2025. Full topline results are anticipated in 2027, although an interim analysis could potentially be released in 2026. Concurrently, Viking is conducting a phase 1 maintenance study evaluating daily oral, weekly oral and monthly injectable regimens in patients who have already achieved initial weight loss, aiming to address the critical challenge of weight-regain post-treatment.
3. Wall Street Upside and Valuation Metrics
Analysts tracked by industry consensus sources assign Viking an average price target of $93.39, implying approximately 175% upside from recent trading levels. The company’s market capitalization stands near $3.9 billion. While the lofty target reflects confidence in VK2735’s late-stage data, the lack of near-term catalysts until the expected 2027 phase 3 readout suggests that substantial share appreciation in 2026 may be limited without an interim update.
4. Risk-Reward Profile for Investors
As a clinical-stage biotechnology company without commercial revenues, Viking Therapeutics carries elevated development and regulatory risks; any setback in phase 3 or during regulatory review could lead to significant share depreciation. However, if VK2735 successfully completes its late-stage program and secures approval, the company could achieve blockbuster status in a high-growth obesity market. Additionally, strategic partnership or acquisition interest from larger pharmaceutical players represents a potential upside catalyst beyond organic launch success.