Why Viking Therapeutics’ Oral Obesity Strategy Will Be a Make-or-Break Focus on Oct. 28
Viking Therapeutics (NASDAQ:VKTX | VKTX Price Prediction) reports third-quarter results on October 28, 2026. Shares fell 41.42% over the past month, so management has to make the case for its newly launched oral VK2735 Phase 3 program on this call.…
Viking Therapeutics (NASDAQ:VKTX | VKTX Price Prediction) reports third-quarter results on October 28, 2026. Shares fell 41.42% over the past month, so management has to make the case for its newly launched oral VK2735 Phase 3 program on this call.
A Crowded Quarter Ended With a Steep Selloff
Last quarter, Viking lost $1.10 per share against a -$1.21 consensus. That was its first beat in six reports. Net loss rose to $128.02 million on $115.75 million of R&D spending, and cash fell to $502 million from $706 million at the end of 2025.
A lot has happened since then. Viking reported positive maintenance study results on September 22. It closed an upsized $500 million stock and convertible note offering on September 28, then started the oral Phase 3 program on October 14.
The equity priced at $35.00 per share, a discount that weighed heavily on the stock. Shares closed at $24.40 on October 23, down 30.64% year to date.
Consensus Calls for a Wider Loss
| Metric | Estimate | Prior Year Actual | YoY Change |
|---|---|---|---|
| Q3 2026 Normalized EPS | -$1.0602 | -$0.81 | Loss grows 30.89% |
| Q3 2026 Revenue | $0.00 | None | N/A |
| FY2026 Normalized EPS | -$4.5878 | -$3.19 | Loss grows 43.82% |
| FY2026 Revenue | $0.00 | None | N/A |
Over the past 30 days, 9 analysts raised their quarterly estimates and 6 cut them.
SUNRISE Details and Maintenance Data Will Set the Tone
I’ll be watching the oral program first. Viking launched SUNRISE, its Phase 3 program for oral VK2735. Specifics on doses, duration and enrollment targets will shape how investors model the timeline. CEO Brian Lian said in July that oral VK2735 “is positioned to potentially become the first orally available dual GLP-1/GIP agonist to reach market.”
Tolerability matters just as much. Larger trials draw closer attention of gastrointestinal side effects, and any safety signal would erode the oral advantage. The Phase 2 VENTURE-Oral trial set the bar at up to 12.2% mean weight loss after 13 weeks.
Maintenance dosing is the second driver. Patients who switched to monthly or bi-weekly doses kept 90% to 97% of their weight loss. Listen for how management frames that data against existing GLP-1 therapies, especially since pricing pressure across obesity drugs led Canaccord to lower its price target.
Finally, watch spending. The raise extended funding into 2028, but R&D will climb because the VANQUISH-1 and VANQUISH-2 trials (about 5,500 patients) now run alongside SUNRISE. I want a clear outlook on spending.
Oral Execution Now Decides the Valuation
Viking now has the capital and the trials it needs to test its two-formulation strategy. Investors have shown little patience, though. Even after last quarter’s beat, shares fell 4.14% the next day. If management shows that SUNRISE is on track and that the maintenance data gives it a real competitive edge, I think the view can turn quickly. The oral program is the key test for the valuation, and it starts on October 28.
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After two decades of patrolling the dark corners of suburbia as a police officer, Rich Duprey hung up his badge and gun to begin writing full time about stocks and investing. For the past 20 years, he’s been cruising the markets looking for companies to lock up as long-term holdings in a portfolio while writing extensively on the broad sectors of consumer goods, technology, and industrials. Because his experience isn’t from the typical financial analyst track, Rich is able to break down complex topics into understandable and useful action points for the average investor. His writings have appeared on The Motley Fool, InvestorPlace, Yahoo! Finance, Money Morning, and, of course, 24/7 Wall St. He has been featured in both U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, and USA Today.
