Viking Therapeutics is a clinical-stage biopharmaceutical company focused on treatments for metabolic and endocrine disorders. Viking has no approved products and generates no revenue. Its lead asset is VK2735, a dual GLP-1/GIP receptor agonist for obesity, being developed in both an injectable (subcutaneous, once-weekly) and oral (once-daily) formulation — both using the same molecule, which Viking argues allows patients to switch between routes without changing drugs. Phase 2 data showed up to 14.7% weight loss for the injectable and up to 12.2% for the oral formulation after 13 weeks. Two Phase 3 trials for the injectable formulation (VANQUISH-1 and VANQUISH-2) are currently enrolling, and Viking plans to initiate oral Phase 3 trials in Q3 2026. Viking is also exploring monthly subcutaneous and low-dose oral maintenance dosing regimens, which management believes could improve patient persistence and be attractive to payers. Beyond VK2735, Viking has three secondary pipeline assets — VK2809 (an oral liver-selective thyroid receptor agonist for NASH), VK0214 (a similar mechanism for a rare neurological disorder), and an early-stage amylin program for obesity — but is seeking partners for the first two rather than self-funding further development. Viking outsources all manufacturing and has no commercial infrastructure yet, though it recently hired a Chief Commercial Officer and is open to partnering with a larger pharma company for commercialization if VK2735 is approved.