On July 29, 2026, Viking Therapeutics said its Phase 3 VANQUISH-1 and VANQUISH-2 trials of weekly subcutaneous VK2735 are fully enrolled and advancing. The same second-quarter update put oral Phase 3 initiation in the fourth quarter of 2026, maintenance-dosing data in the third quarter of 2026, and a Phase 1 study of the amylin agonist VK3019 already underway.
Enrollment complete is an operational milestone. It is not Phase 3 efficacy, not a 78-week safety label, and not FDA approval. The weight-loss numbers that already exist come from a 13-week Phase 2 program. The subcutaneous VENTURE result is now in a peer-reviewed paper. The oral 12.2% figure is still company-reported.
VK2735 is an investigational peptide dual agonist of the GLP-1 and GIP receptors. It is not tirzepatide, not semaglutide, and not a research-vendor "GLP-1/GIP" vial.
What happened
Viking's July 29, 2026 release is a quarterly update, not a new efficacy readout. The same text is on the company IR site. CEO Brian Lian said VANQUISH-1 and VANQUISH-2 "are fully enrolled and proceeding according to plan."
The company restated the enrollment pace. VANQUISH-1 enrolled about 4,500 people by November 2025, about five months after the June 2025 start. VANQUISH-2 completed enrollment in the first quarter of 2026 at about 1,000 people. Participants were randomized to weekly subcutaneous doses of 7.5 mg, 12.5 mg, 17.5 mg, or placebo.
Those company figures do not match every earlier public number. Viking's January 12, 2026 VENTURE publication release said VANQUISH-1 had completed enrollment of about 4,650 people and that VANQUISH-2 was still enrolling about 1,100. ClinicalTrials.gov NCT07104500 still lists estimated enrollment of 4,500. NCT07104383 lists 1,100. Both records now show active, not recruiting. This article uses the July 29 figures as the current sponsor statement and keeps the registry estimates visible.
Both trials are 78-week, randomized, double-blind, and placebo-controlled. The primary endpoint is percent change in body weight at week 78. ClinicalTrials.gov lists estimated primary completion as July 1, 2027, and estimated completion as August 1, 2027. Enrollment does not move those dates.
Cash, cash equivalents, and short-term investments were $502 million at June 30, 2026, down from $706 million at December 31, 2025. Second-quarter research and development expense was $115.8 million. That is runway, not efficacy.
Why this peptide is not tirzepatide, and not a research vial
VK2735 and tirzepatide share a receptor class. Both are peptide dual agonists of GLP-1 and GIP. Sharing a class is not sharing a product or a label.
The VENTURE paper describes VK2735 as a peptide that combines both incretin activities and a side chain meant to extend half-life after subcutaneous injection. Binding affinities cited there (GLP-1 receptor IC50 188 nM, GIP receptor IC50 325 nM) are unpublished Viking data. Tirzepatide is already FDA-approved as Mounjaro and Zepbound. VK2735 is not approved.
The approved oral GLP-1 on the market is a different chemical class. Orforglipron (Foundayo) is a small-molecule GLP-1 agonist, not a peptide tablet. Viking's oral program uses the same VK2735 peptide in a tablet. That is the basis for the company's "first oral dual GLP-1/GIP agonist" claim. That is positioning, not an FDA designation.
Research-vendor listings that use "GLP-1/GIP," "reta," or a tirzepatide-like name are not the VANQUISH investigational product. A COA check can tell you whether paperwork names a real lab. It cannot turn an unapproved research vial into Viking's Phase 3 peptide.
Phase 2 VENTURE: the peer-reviewed 13-week result
Bays and colleagues published the VENTURE paper in Obesity (Wiley publication date January 8, 2026). Viking announced that publication on January 12, 2026.
VENTURE ran at 20 U.S. sites from August 31, 2023, to February 23, 2024. It randomized 176 adults with BMI of at least 30 kg/m2, or at least 27 kg/m2 plus a weight-related comorbidity. Diabetes and BMI above 50 kg/m2 were exclusions. Participants were assigned 1:1:1:1:1 to weekly subcutaneous VK2735 at 2.5 mg, 5.0 mg, 10 mg, or 15 mg, or matched placebo. The primary endpoint was percent change in body weight at week 13.
The modified intention-to-treat analysis included 174 people. Least-squares mean percent weight change at week 13 was:
| Weekly dose | LS mean weight change at week 13 | Difference vs placebo | ≥10% weight loss |
|---|---|---|---|
| Placebo (n=34) | −1.7% | n/a | 1 (3.0%) |
| VK2735 2.5 mg (n=35) | −9.1% | −7.43 points | 14 (40.1%) |
| VK2735 5.0 mg (n=35) | −10.9% | −9.23 points | 23 (65.1%) |
| VK2735 10 mg (n=35) | −12.9% | −11.26 points | 25 (70.4%) |
| VK2735 15 mg (n=35) | −14.7% | −13.08 points | 31 (89.1%) |
Every active arm beat placebo on the primary endpoint (p<0.0001). At 15 mg, 100% of participants lost at least 5% of baseline weight, and 41.5% lost at least 15%. The paper says the week-13 curves showed no plateau. That is a 13-week observation in a dose-finding study. It is not evidence that loss continues at the same pace through 78 weeks.
Safety was dose-related. Gastrointestinal disorders occurred in 37% on placebo and 83% on 15 mg. Nausea occurred in 20% on placebo and 63% on 15 mg. Treatment-emergent adverse events leading to treatment discontinuation occurred in 0% on placebo, 3% on 2.5 mg, 11% on 5 mg, 11% on 10 mg, and 20% on 15 mg. One death in the 15 mg group was reported as head trauma from a fall and was assessed as not related to study drug. No pancreatitis events were reported. 167 of 176 randomized participants (95%) completed the study.
Those Phase 2 doses are not the Phase 3 doses. VENTURE tested 2.5, 5, 10, and 15 mg. VANQUISH is testing 7.5, 12.5, and 17.5 mg. The 14.7% figure is the 15 mg, 13-week result. It is not a VANQUISH-dose, 78-week result.
What VANQUISH is designed to test
The July 29 release and the two ClinicalTrials.gov records describe the same 78-week design. They do not describe a result.
| Item | VANQUISH-1 (NCT07104500) | VANQUISH-2 (NCT07104383) |
|---|---|---|
| Status | Active, not recruiting | Active, not recruiting |
| Population | Adults with obesity, or overweight plus a comorbidity, without type 2 diabetes | Adults with type 2 diabetes who have obesity or overweight |
| Company enrollment (July 29) | About 4,500 by November 2025 | About 1,000, completed in Q1 2026 |
| Registry estimate | 4,500 | 1,100 |
| Weekly arms | 7.5 mg, 12.5 mg, 17.5 mg, or placebo | Same |
| Duration | 78 weeks | 78 weeks |
| Primary endpoint | Percent change in body weight at 78 weeks | Percent change in body weight at 78 weeks |
| Key secondaries | Share reaching ≥5%, ≥10%, ≥15%, and ≥20% weight loss | Same |
| Registered dates | Start June 23, 2025. Primary completion July 1, 2027. Completion August 1, 2027 | Same dates |
| Sites on the registry pages fetched for this article | 137 locations across 2 countries | 127 locations across 2 countries |
VANQUISH-1 excludes current or past diabetes except gestational diabetes. VANQUISH-2 requires type 2 diabetes with HbA1c from 7% through 11% on stable therapy and excludes background amylin analogues, DPP-4 inhibitors, GLP-1 agonists, and dual GLP-1/GIP agonists. Each study has an extension after week 78. That extension is not the primary analysis.
Viking said the program followed Type C and end-of-Phase-2 FDA meetings. A completed meeting is not proof that the 13-week effect will hold at 78 weeks.
Oral VK2735: company 13-week data, Phase 3 not started
There is no peer-reviewed oral Phase 2 paper in the sources used here. Viking's August 19, 2025 oral Phase 2 release said VENTURE-Oral enrolled 280 adults on once-daily tablets. Least-squares mean weight change at week 13 was −1.3% on placebo and −12.2% on 120 mg (placebo-adjusted −10.9%). The 15 mg tablet arm was −2.3%. Doses above 15 mg were reported as significant versus baseline and placebo from week 1. Up to 80% on VK2735 lost at least 10% of body weight, versus 5% on placebo.
| Daily tablet dose | LS mean percent change at week 13 | Placebo-adjusted change |
|---|---|---|
| Placebo | −1.3% | n/a |
| 15 mg | −2.3% | Not reported as significant vs placebo |
| 30 mg | −7.0% | −5.7% |
| 60 mg | −8.7% | −7.4% |
| 90 mg | −11.1% | −9.8% |
| 120 mg | −12.2% | −10.9% |
Those are sponsor topline figures. Adverse-event discontinuation was 20% on VK2735 and 13% on placebo. Overall discontinuation was 28% versus 18%. Nausea was 58% versus 48%. Vomiting was 26% versus 10%. The company said 99% of gastrointestinal events were mild or moderate.
The July 29 update repeats the 12.2% and 80% figures. It also says that, in the dose range Viking plans to explore later, the company sees no meaningful gastrointestinal difference versus placebo. That is a company reading of a subset, not a journal table. The same release restates an oral Phase 1 finding of up to 8.2% after 28 daily doses.
Oral Phase 3 has not started. Viking said it used end-of-Phase-2 FDA feedback and spent the second quarter preparing for a fourth-quarter 2026 start. The company said oral VK2735 is "positioned to potentially become the first orally available dual GLP-1/GIP agonist to reach the market." Orforglipron is already an approved oral GLP-1, but it is a mono-agonist small molecule. ASC30 is another oral small-molecule GLP-1 now in Phase 3. Viking's claim is about being first with an oral dual agonist if the tablet succeeds. It is not a regulatory status.
Maintenance dosing and VK3019
The maintenance study began in October 2025. It is a randomized, double-blind, placebo-controlled Phase 1 trial in about 180 adults with BMI of at least 30 kg/m2. Participants start on weekly subcutaneous VK2735 or placebo, then move to weekly, every-other-week, or monthly VK2735, or placebo. The aims are safety, tolerability, and pharmacokinetics. Weight change is exploratory. Viking expects results in the third quarter of 2026. That readout cannot replace VANQUISH.
VK3019 is a separate dual amylin and calcitonin receptor agonist (DACRA). After an IND in the first quarter of 2026, Viking started a Phase 1 single-ascending-dose trial in healthy adults with BMI of at least 27. Primary aims are safety, tolerability, and pharmacokinetics. The only efficacy-like number in the July 29 release is preclinical: up to 8% weight reduction versus controls at 72 hours in lean rats. That is not a human obesity result.
What this does not mean
- It is not FDA approval. VK2735 remains investigational in both the injection and the tablet.
- Phase 3 enrollment complete is not Phase 3 efficacy. VANQUISH's primary look is percent weight change at 78 weeks. ClinicalTrials.gov still lists primary completion around July 2027.
- Phase 2 13-week data are not 78-week Phase 3 data. The 14.7% figure is a 15 mg, 13-week, no-diabetes VENTURE result in 35 people in that arm.
- The Phase 3 doses are not the Phase 2 doses. VANQUISH uses 7.5, 12.5, and 17.5 mg. VENTURE used 2.5, 5, 10, and 15 mg.
- Oral Phase 3 has not started. The expected window is the fourth quarter of 2026. An expected start is not first-patient dosing.
- The "first oral dual agonist" line is company positioning. It is not an FDA designation.
- VK2735 is not interchangeable with tirzepatide, semaglutide, or retatrutide. No head-to-head trial appears in the sources used here. Cross-trial 13-week percentages are not a ranking. See the ADA 2026 pipeline roundup and the retatrutide FDA timeline.
- Research-vendor "GLP-1/GIP" vials are not this product. They were not the intervention in VENTURE or VANQUISH.
- Enrollment counts are not fully reconciled. July 29 says about 4,500 and about 1,000. The January 12 release said about 4,650 and about 1,100. The registry still prints estimates of 4,500 and 1,100.
- Maintenance data and VK3019 Phase 1 are not obesity approvals. One is a Phase 1 regimen experiment. The other is a first-in-human SAD study on a different receptor class.
Milligram figures above are trial-design and published-study numbers, not a consumer dosing protocol.
What to watch next
- Whether week 78 remains the primary weight look. That is the registered VANQUISH primary endpoint today.
- The 2027 primary-completion window. July 1, 2027, is the current ClinicalTrials.gov estimate, not a locked readout date.
- Maintenance data in the third quarter of 2026. Company timing. Exploratory weight change only.
- Oral Phase 3 start in the fourth quarter of 2026. Watch for first-patient dosing and posted registry IDs, not only the plan.
- A peer-reviewed oral paper. The 12.2% tablet figure is still a company topline plus later conference follow-up.
- VK3019 multiple-dose work, if it starts. The current study is single-dose.
FAQs
Did Viking finish enrolling Phase 3 for VK2735?
The company said VANQUISH-1 and VANQUISH-2 are fully enrolled and advancing. ClinicalTrials.gov lists both as active, not recruiting. That is not a results announcement.
What did Phase 2 show?
In the peer-reviewed VENTURE paper, weekly subcutaneous VK2735 produced least-squares mean weight loss of 9.1% to 14.7% at 13 weeks, versus 1.7% on placebo. The 14.7% figure is the 15 mg arm. Oral Phase 2 is a separate company dataset, with up to 12.2% at 13 weeks on the 120 mg tablet.
Is VK2735 FDA-approved?
No. It is investigational. VANQUISH primary completion is listed for 2027. Oral Phase 3 has not started.
Is this the same as tirzepatide or research-vendor GLP-1/GIP?
No. Tirzepatide is an approved dual agonist. Research-vendor listings are not Viking's investigational product. VK2735 has not been compared head-to-head with tirzepatide in the sources used here.
When does oral VK2735 enter Phase 3?
Viking said initiation is expected in the fourth quarter of 2026. That is a company timeline, not a started trial.
What is VK3019?
An investigational DACRA (dual amylin and calcitonin receptor agonist) in a Phase 1 single-ascending-dose study. The 8% rat figure in the July 29 release is preclinical.
This article is for general informational purposes only and is not medical advice. Talk to a licensed clinician about personal medical decisions. VK2735 is an investigational peptide studied in controlled trials. Nothing here is a dosing protocol, an availability claim, or a recommendation to obtain an unapproved product.
Continue your research
- Tirzepatide price comparison
- Semaglutide price comparison
- Retatrutide FDA timeline
- ADA 2026 GLP-1 pipeline roundup
- Orforglipron (Foundayo)
- COA Authenticity Checker
Sources
- Viking Therapeutics Q2 2026 update. PR Newswire. July 29, 2026
- Viking Therapeutics Q2 2026 update, IR mirror. July 29, 2026
- Bays HE et al. VENTURE Phase 2. Obesity. 2026. DOI 10.1002/oby.70106
- ClinicalTrials.gov NCT07104500. VANQUISH-1
- ClinicalTrials.gov NCT07104383. VANQUISH-2
- Viking Therapeutics. VENTURE publication in Obesity. January 12, 2026
- Viking Therapeutics. VENTURE-Oral Phase 2 topline. August 19, 2025