Viking Therapeutics Gains Momentum Following Key Industry Conference

Shares of Viking Therapeutics experienced a significant surge this week, driven by a series of strategic updates and a notable presentation by its CEO at a major healthcare conference. The company’s stock closed at $34.34 on Wednesday, marking an 11.89% single-day gain. This positive movement reflects growing investor confidence amid clinical progress and commercial preparations.

Strategic Commentary Fuels Market Interest

The recent uptick was largely attributed to remarks made by CEO Brian Lian at the 44th Annual J.P. Morgan Healthcare Conference in San Francisco. Lian highlighted that strategic interest in the obesity drug market is “broader than visible,” with multiple pharmaceutical firms actively evaluating assets. He noted that companies are weighing whether to invest early in drug candidates at lower valuations or pursue later-stage, “proven” projects at premium prices.

This observation comes during a period of intense deal-making within the weight-loss medication sector. The acquisition of Metsera by Pfizer for $10 billion in November 2025, following a bidding contest with Novo Nordisk, underscores the high value major players are placing on promising obesity treatments.

A Week of Operational Progress

The stock’s reaction followed several corporate announcements from Viking in quick succession:

• Appointment of a New Chief Commercial Officer: On January 7, the company named Neil Aubuchon as its CCO. Aubuchon brings over two decades of biopharma experience, including nearly 17 years in marketing leadership roles at Eli Lilly in Australia and Japan. His background also includes serving as CCO at AbCellera and holding a global marketing position at Amgen. CEO Lian described him as the “ideal candidate” to advance the commercialization strategy for Viking’s lead candidate, VK2735, including engagement with potential strategic partners.
• Completion of Maintenance Dose Study Recruitment: The following day, January 8, Viking announced it had finished enrolling approximately 180 adults into an exploratory Phase 1 maintenance dose study for VK2735. This trial is evaluating various regimens—monthly subcutaneous, weekly oral, and daily oral dosing—to sustain weight loss. Results are anticipated later in 2026.
• Phase 2 Data Published in Peer-Reviewed Journal: On January 12, the company confirmed the publication of Phase 2 VENTURE trial data in the journal Obesity. The published results reported weight reduction of up to 14.7% from baseline after just 13 weeks of treatment, with no evidence of a plateau at that point. This publication enhances the candidate’s credibility within the medical community.

Advancing the Pivotal Phase 3 Program

Concurrently, Viking is progressing its registration-focused Phase 3 VANQUISH program. The VANQUISH-1 trial is reportedly ahead of schedule and has enrolled approximately 4,650 adult participants. Recruitment for VANQUISH-2 is expected to conclude in the first quarter of 2026.

Both studies are investigating weekly subcutaneous injections of VK2735 over 78 weeks, testing doses of 7.5 mg, 12.5 mg, and 17.5 mg.

Should investors sell immediately? Or is it worth buying Viking Therapeutics?

Financially, Viking appears well-positioned to fund these efforts, with cash and equivalents totaling roughly $714.6 million as of its last quarterly report. These resources are intended to support the ongoing Phase 3 trials and further pipeline development.

Competitive Positioning and Analyst Outlook

The obesity drug market is projected to exceed $150 billion annually by the end of the decade, fueling intense competition for compelling therapies. VK2735, a dual GLP-1/GIP agonist, aims for a potential best-in-class profile. A key differentiator is its development in both injectable and oral formulations based on the same active ingredient, which may offer greater treatment flexibility and improve patient adherence.

Wall Street sentiment remains generally favorable. The consensus rating sits at “Moderate Buy,” with average price targets ranging between approximately $87 and $93, significantly above current trading levels. Individual analyst estimates span from $36 to $125 per share.

Upcoming Catalysts on the Horizon

Viking has outlined several clear milestones for the near future:

• Completion of VANQUISH-2 enrollment in Q1 2026.
• Results from the maintenance dose study during 2026.
• Additional data readouts from the Phase 3 program throughout the year.
• Q4 2025 financial results, expected on February 3, 2026.

Management has expressed openness to strategic partnerships while emphasizing its capability to continue development independently. With published Phase 2 data, an advanced Phase 3 program, strengthened commercial leadership, and evident industry interest, 2026 is poised to be a pivotal year as the company moves closer to potential regulatory submissions.