Overview
- Viking’s Phase 3 VANQUISH program for subcutaneous VK2735 targets obesity with and without diabetes, with weight loss measured over 78 weeks.
- Enrollment for VANQUISH-1 finished in Q4 2025, and VANQUISH-2 enrollment is expected to complete this quarter.
- Pivotal readouts are expected next year, setting efficacy and tolerability as the key hurdles in a crowded GLP-1/GIP market.
- An oral tablet version of VK2735 showed positive Phase 2 results, with Phase 3 initiation planned for the third quarter of 2026.
- The company reported $706 million in cash and short-term investments at year-end 2025, as Wall Street cites large potential upside, including a $92.72 average price target and a $99 Overweight view from Morgan Stanley, with the stock also flagged as heavily shorted by hedge fund trackers.