• Viking Therapeutics recently completed patient enrollment in its Phase 3 VANQUISH-2 trial of once-weekly subcutaneous VK2735 in roughly 1,000 adults with obesity and type 2 diabetes, a pivotal study running 78 weeks with weight loss as the primary endpoint.
• This milestone moves VK2735 further along a path already supported by earlier Phase 2 data showing meaningful weight reduction and an encouraging safety profile, directly linking Viking’s pipeline to the rapidly expanding GLP-1/GIP obesity treatment class.
• Now we’ll examine how completing Phase 3 VANQUISH-2 enrollment, alongside prior positive VK2735 data, may reshape Viking Therapeutics’ investment narrative.

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Viking Therapeutics Investment Narrative Recap

To own Viking Therapeutics, you need to believe VK2735 can successfully move from promising trial data into an approved obesity treatment across injectable and, eventually, oral formats. Completion of VANQUISH-2 enrollment matters because it keeps the subcutaneous Phase 3 program on track, reinforcing the near term catalyst around late stage VK2735 data, while the biggest risk remains that any safety or efficacy setback in these trials could prolong Viking’s pre revenue status and ongoing losses.

Among recent updates, the earlier completion of enrollment in the larger Phase 3 VANQUISH-1 trial looks especially relevant. Together with VANQUISH-2 now fully enrolled, it means Viking has both pivotal subcutaneous obesity studies running in parallel, concentrating its rising R&D spend on a tightly linked set of outcomes that could either validate the VK2735 program or amplify the existing risk around high cash burn and potential future dilution.

Yet, while these milestones are encouraging, investors should also be aware of the possibility that prolonged high R&D spend and no revenue could eventually force...

Viking Therapeutics' narrative projects $118.5 million revenue and $12.9 million earnings by 2029. This requires an earnings increase of about $372.5 million from -$359.6 million today.

Uncover how Viking Therapeutics' forecasts yield a $92.72 fair value, a 185% upside to its current price.

Exploring Other Perspectives

Some of the most optimistic analysts were already modeling about US$497.5 million of revenue by 2029, so in light of VANQUISH-2 enrollment progress you may see their already aggressive view on VK2735’s dual injectable and oral path either reinforced or reconsidered as trial data, timelines and balance sheet pressures come into sharper focus.

Explore 21 other fair value estimates on Viking Therapeutics - why the stock might be worth over 8x more than the current price!

The Verdict Is Yours

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your Viking Therapeutics research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.
• Our free Viking Therapeutics research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Viking Therapeutics' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.