Viking Therapeutics announced that enrollment in its Phase 3 VANQUISH‑2 obesity trial has been completed. The study, which enrolls approximately 1,100 adults with type 2 diabetes and obesity or overweight, is now ready to begin the 78‑week treatment period with weekly subcutaneous injections of VK2735, a dual GLP‑1/GIP agonist.
VANQUISH‑2 is a registration study that will evaluate three dose levels—7.5 mg, 12.5 mg, and 17.5 mg—alongside placebo. The trial will enroll patients across 200 sites in the United States and Canada and will collect safety and efficacy data over 78 weeks, the same duration used in the earlier VANQUISH‑1 study that enrolled 1,000 patients and completed enrollment on November 21, 2025.
Completing enrollment in both registration trials positions Viking to submit a pivotal application to the FDA in 2027 and to potentially launch VK2735 in the U.S. market that year. The dual‑agonist mechanism and the company’s plan to offer both oral and injectable formulations could differentiate VK2735 from existing GLP‑1 therapies such as Ozempic, Wegovy, and tirzepatide.
The milestone has been well received by investors. The company’s market capitalization reached $3.84 billion on March 26, 2026, and the stock has delivered a 30 % return over the previous six months. Viking’s balance sheet remains robust, with a current ratio of 9.33 and cash exceeding debt, although the company posted a loss per share of $3.19 for the trailing twelve months.
CEO Brian Lian said, 'Completing enrollment in the VANQUISH‑2 study is an important milestone for Viking as it is the second of our two registration studies to be fully enrolled.' He added, 'As with the VANQUISH‑1 study, we are happy to see a study of this size enroll quickly, which we believe speaks to the enthusiasm for new obesity treatments beyond those currently available. We look forward to completing the VANQUISH studies in 2027.'
Analysts have noted the enrollment success as a key driver of optimism, citing the strong patient recruitment and the potential for a differentiated product portfolio. The company’s focus on both oral and injectable delivery is seen as a strategic advantage that could broaden its market reach once regulatory approval is obtained.
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