Viking Therapeutics Hits Phase‑3 Enrollment, Shares Rise on FDA Pathway Hints

Viking Therapeutics Inc. – Current Market and Clinical Developments

Viking Therapeutics Inc. (NASDAQ: VKTX) is a biotechnology company headquartered in La Jolla, United States, that focuses on the development of therapeutics for metabolic and endocrine disorders. As of 4 December 2025, the company’s share price stood at US $38.55, within a 52‑week range of US $18.92 to US $51.68. The market capitalization is approximately US $4.36 billion, and the price‑to‑earnings ratio is negative at ‑18.21, reflecting its status as a clinical‑stage company with ongoing trials and no current earnings.

1. Clinical‑Trial Milestones for VK2735

• Phase‑3 VANQUISH‑1 enrollment completed. On 4 December 2025, Viking disclosed that patient enrollment for its subcutaneous obesity candidate VK2735 had finished, a critical step toward initiating the pivotal efficacy trial.
• Stable trading following enrollment completion. On 6 December 2025, shares closed at US $38.55, a slight decline of 0.05 % from the prior day, indicating a consolidation after the enrollment announcement. Trading volume that day was 2.73 million shares within a range of US $38.05 – $39.48.
• Positive momentum in the obesity‑drug sector. A 4 December report on Benzinga noted that Viking’s shares were rising amid broader investor enthusiasm for GLP‑1 and obesity therapeutics, with the company’s latest data supporting a potential competitive edge.

2. Investor Sentiment and Market Reaction

• Strong analyst optimism. A 7 December article from Boerse‑Express highlighted that analysts are setting price targets that could more than double the current share price, driven by the potential of VK2735.
• Liquidity and cash reserves. The same source noted Viking’s cash position of US $714 million, a substantial buffer that enables continued pipeline development despite the high cost of clinical trials.
• Volatility and recent rally. The 5 December Boerse‑Express report described a 9 % intraday rise linked to speculation about simplified FDA approval pathways. The narrative suggested that a shorter regulatory route could accelerate market entry for VK2735.

3. Regulatory and Strategic Context

• Potential FDA pathway changes. Reports of possible revisions to the U.S. Food and Drug Administration’s clinical‑trial requirements—potentially reducing the need for two pivotal studies—have generated optimism among investors. If realized, such changes could lower the time and cost to achieve regulatory approval for Viking’s obesity candidate.
• Pipeline focus. Viking’s current emphasis remains on VK2735, its flagship obesity therapy, with the Phase‑3 trial representing the next major hurdle toward commercialization.

4. Summary of Key Metrics

Viking Therapeutics remains a high‑growth, high‑risk biopharmaceutical entity. The company’s recent clinical‑trial achievements and significant cash reserves position it well for the upcoming Phase‑3 efficacy studies, while investor enthusiasm is influenced by both clinical progress and potential regulatory leniency.