• Earlier in January 2026, Viking Therapeutics reported peer-reviewed Phase 2 VENTURE trial results for its dual GLP‑1/GIP agonist VK2735, showing statistically significant weight loss of up to 14.7% over 13 weeks with generally mild to moderate side effects.
• With Phase 3 VANQUISH-1 and VANQUISH-2 trials now underway and enrollment largely completed, Viking is moving VK2735 toward longer-term efficacy and safety evaluation in both obesity and type 2 diabetes populations.
• We’ll now examine how VK2735’s promising Phase 2 obesity data and ongoing Phase 3 VANQUISH program influence Viking Therapeutics’ broader investment narrative.

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What Is Viking Therapeutics' Investment Narrative?

To own Viking Therapeutics, you have to believe VK2735 can translate strong obesity data into an approved, commercially relevant product despite zero current revenue and ongoing losses. The peer‑reviewed VENTURE publication reinforces VK2735’s Phase 2 profile and, paired with largely completed VANQUISH-1 enrollment and an active VANQUISH-2 program, sharpens the near-term catalyst set around longer-duration efficacy and safety readouts. In the short term, the new data may support sentiment and partnership optionality, but the fundamental inflection still hinges on successful Phase 3 outcomes and eventual regulatory decisions. Key risks remain: high cash burn with no profitability forecast, intense GLP‑1/GIP competition, insider selling, and execution demands as Viking shifts from pure R&D to potential commercialization, even with a seasoned board and new commercial leadership in place.

However, one emerging risk around future funding and dilution is easy to overlook but important for shareholders. Viking Therapeutics' shares have been on the rise but are still potentially undervalued. Find out how large the opportunity might be.

Exploring Other Perspectives

Twenty six Simply Wall St Community fair value views span roughly US$28 to US$277, underlining very different expectations around VK2735’s impact. Set that beside Viking’s continuing losses and binary Phase 3 risk and you can see why it pays to compare several viewpoints before forming your own.

Explore 26 other fair value estimates on Viking Therapeutics - why the stock might be worth 19% less than the current price!

Build Your Own Viking Therapeutics Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• 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.