VKTX Stock — Viking Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biopharmaceutical company focused on the development of novel, first-in-class or best-in-class therapies for metabolic and endocrine disorders. In January 2022, we announced the initiation of a Phase 1 single ascending dose, or SAD, and multiple ascending dose, or MAD, clinical trial of VK2735, a novel dual agonist of the glucagon-like peptide 1, or GLP-1, and glucose-dependent insulinotropic polypeptide, or GIP, receptors.

Source: 10-K FY2025 via SEC EDGAR

Share price

$28.99

Market cap

$3,696.2M

Cash

$959.8M

Enterprise value

$2,736.4M

Balance sheet

Cash	$959.8M
Debt	$0.0M
Net cash	$959.8M
Enterprise value	$2,736.4M
Basic shares	116.7M shares
Fully diluted shares	124.8M shares
Fully diluted market cap	$3,616.7M
Cash per share	$8.23
Quarterly burn	$125.2M
Cash runway	7.7 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-11.

Share structure

Common

116.7M

Pre-funded warrants

0.0M

Options

6.0M

RSUs

2.1M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

124.8M

Cap table as of 2026-06-30.

Price history

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Next catalyst

VK2735 · Aug 12 - Sep 23 in 9 mo · Phase 3 · Weight Loss

Recently reported

VK2735 Positive · 2026-09-22

maintenance-study · weight loss

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Aug 12 - Sep 23 in 9 mo	VK2735	Phase 3	Weight Loss	—
Aug 12 - Sep 23 in 9 mo	VK2735	Phase 3	Weight Loss	—
GUIDEDEst. Sep 30, 2027 in 8 mo half midpoint	VK2735 Phase 3 VANQUISH-1 trial of weekly subcutaneous VK2735 in obesity	Phase 3	obesity	2H 2027
GUIDEDEst. Sep 30, 2027 in 8 mo half midpoint	VK2735 Phase 3 VANQUISH-2 trial of weekly subcutaneous VK2735 in obesity with type 2 diabetes	Phase 3	obesity with type 2 diabetes	2H 2027

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

VK2735

Phase 3 · Active

Target GLP-1/GIP receptors

Partnerships CordenPharma: multi-year manufacturing agreements (API + fill/finish for injectable and oral; prepayments 2026-2028).

Indications

Obesity (Phase 3)

Status note Dual GLP-1/GIP receptor agonist in oral and subcutaneous formulations. Subcutaneous: Phase 3 VANQUISH-1 (enrollment complete Nov 2025) and VANQUISH-2 (enrollment complete Mar 2026) ongoing. Oral: Phase 2 VENTURE-Oral data reported Aug 2025; exploratory maintenance dosing study enrollment complete Jan 2026.

VK3019

Phase 1 · Active

Target amylin/calcitonin receptors

Indications

Obesity (Phase 1)

Status note Novel amylin agonist from internally developed DACRA (dual amylin and calcitonin receptor agonist) program. IND filed Apr 2026; Phase 1 SAD initiated Jun 2026.

VK2809

Stage not disclosed · Active

Target thyroid hormone receptor beta (TRbeta)

Partnerships Ligand Pharmaceuticals: exclusive worldwide rights (Master License Agreement).

Indications

NASH/MASH (Stage not disclosed)

Status note Oral tissue/receptor-subtype selective TRbeta agonist. Phase 2b VOYAGE complete (52-week histology data Jun 2024); 8 completed clinical studies, 400+ subjects. No next-study plans stated in filing.

VK0214

Stage not disclosed · Active

Target thyroid hormone receptor beta (TRbeta)

Partnerships Ligand Pharmaceuticals: exclusive worldwide rights (Master License Agreement).

Indications

X-linked adrenoleukodystrophy (X-ALD) (Stage not disclosed)

Status note Oral TRbeta agonist for X-ALD. Phase 1b in AMN patients complete (Oct 2024). Company intends to pursue partnering/licensing before additional clinical studies.

VK5211

Stage not disclosed · Active

Target androgen receptor

Partnerships Ligand Pharmaceuticals: exclusive worldwide rights (Master License Agreement).

Indications

Muscle wasting / recovery from hip fracture surgery (Stage not disclosed)

Status note Oral non-steroidal selective androgen receptor modulator. Phase 2 proof-of-concept in hip fracture recovery reported Nov 2017. Company intends to pursue partnering/licensing before additional clinical studies.

Per-asset detail extracted from the 10-Q filed 2026-07-29. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	VK2735
Lead indication	Weight Loss
Lead phase	Phase 3
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07104383	Phase 3	Active, not recruiting	Sponsor	VKTX	—	Weight Loss	—
NCT07104500	Phase 3	Active, not recruiting	Sponsor	VKTX	—	Weight Loss	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Viking Therapeutics, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	574,038	+346,321	1.05%	2026-08-14
Tang Capital Partners	500,000	no change	0.89%	2026-08-14
DAFNA Capital	59,516	no change	0.44%	2026-08-14
Ikarian Capital	9,717	no change	0.06%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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VKTX — Viking Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

VKTX — Viking Therapeutics Inc.