Viking Therapeutics closed a financing worth approximately $575 million on Sept. 28, giving the clinical-stage biotechnology company new capital as it advances its obesity drug programs.
The company said it will use the money to continue developing and potentially commercializing VK2735, its dual GLP-1/GIP agonist, as well as VK3019 and other research programs. The financing followed a positive first part of a maintenance study and came as Viking expanded testing of both injectable and oral versions of VK2735.
The transaction therefore combines immediate stock dilution with longer-dated financing that could result in additional dilution if the share price rises enough for conversion.
Viking’s largest near-term spending commitment is its Phase 3 VK2735 program. The VANQUISH-1 trial is fully enrolled with approximately 4,500 adults who have obesity or are overweight with a weight-related condition but do not have Type 2 diabetes. Both are randomized, placebo-controlled studies evaluating weekly injections over 78 weeks.
The company also began the SUNRISE Phase 3 program for oral VK2735 in October. SUNRISE-1 is testing the tablet in adults with obesity, while SUNRISE-2 is enrolling obese or overweight adults with Type 2 diabetes. Each trial is designed to enroll 560 people, run for 68 weeks and compare daily doses of 27. 5, 35 or 55 milligrams with placebo.
The study includes about 195 adults and is scheduled to assess outcomes through Week 33, with Part 2 results expected in 2027.
The funding also supports Viking’s broader pipeline, including VK3019, an amylin receptor agonist. The company remains dependent on clinical development rather than product revenue, so the financing extends its ability to run the trials and develop other candidates while results from the VK2735 program determine whether the strategy can ultimately produce a commercial product.