VKTX · Viking Therapeutics, Inc.

Viking Therapeutics reported its first quarter 2026 financial results, highlighting significant progress in its clinical pipeline. Research and development expenses surged to $150.2 million from $41.4 million in the same period last year, driven by costs related to clinical studies, manufacturing, and personnel as the company advances its lead obesity program VK2735. General and administrative expenses remained relatively flat at $14.0 million. The company ended the quarter with a strong cash position of $603 million, providing ample runway to support ongoing and planned trials. Key pipeline milestones include the full enrollment of both Phase 3 VANQUISH trials for subcutaneous VK2735, with top-line data expected in the future. The oral VK2735 Phase 3 program is on track to initiate in Q4 2026. Additionally, a maintenance dosing study is ongoing with data expected in Q3 2026. The company also filed an IND for its novel amylin agonist VK3019, with Phase 1 initiation expected in Q2 2026. Management expressed confidence in the program's potential to offer both oral and injectable formulations, which could differentiate VK2735 in the obesity market. The financial results reflect increased investment in late-stage development, positioning Viking for potential catalysts in the coming quarters.