Viking Therapeutics, Inc. · NASDAQ:VKTX
Viking Therapeutics — Investor Presentation (August 2026)
35 slides from Viking Therapeutics's investor presentation, August 2026
Slide 1: Corporate Presentation
Corporate Presentation August 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements about our future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from
Slide 3: Investment Highlights
Investment Highlights ● Developing novel therapeutics for metabolic and endocrine diseases ဝ Multiple clinical programs demonstrate potential best-in-class efficacy data ● Metabolic Disease Programs ဝ VK2735: GLP-1/GIP dual agonist for obesity VANQUISH Phase 3 program underway ဝ VK2735 Oral: GLP-1
Slide 4: Pipeline Overview
Pipeline Overview Development Programs Indication Stage of Development Status Preclin Phase 1 Phase 2 Phase 3 Phase 3 in process; VK2735 Obesity Phase 1 maintenance (Dual GLP-1/GIP agonist) study in process VK2735 Oral Obesity Phase 3 to begin 4Q26 (Dual GLP-1/GIP agonist) VK3019 Obesity Phase 1 in
Slide 5: VK2735 Dual GLP-1/GIP Agonist Obesity
VK2735 Dual GLP-1/GIP Agonist Obesity
Slide 6: Peptide Hormone Receptor Agonist Program
Peptide Hormone Receptor Agonist Program ● Program initiated in 2019 ● Evaluated GLP-1 mono, GLP-1/GIP dual, GLP-1/GIP/GCGR triple agonists ● Prioritized dual GLP-1/GIP agonists based on promising initial profile ● VK2735 selected as lead development compound; two follow-ons IND-ready ● Injectable P
Slide 7: Demonstrates Differentiated PK Profile in Primates
VK2735 Demonstrates Differentiated PK Profile in Primates ● PK profile demonstrates higher Cmax, later Tmax, longer T1/2 vs. tirzepatide ● Differences lead to increased exposures over time Mean Plasma Concentration - Single Dose Mean Plasma Concentration - Week 8 2000 VK2735 4000 VK2735 Concentratio
Slide 8: Induces Rapid Weight Loss in Obese Primate Model
VK2735 Induces Rapid Weight Loss in Obese Primate Model Mean Weight Change at 8 Weeks ● Significant, progressive body Vehicle Tirzepatide VK2735 weight reduction observed over 8 (n=12) (n=12) (n=12) weeks Change from baseline (%) ● ~40%+ improvement in weight 2 loss vs. comparator at same doses 0 ●
Slide 9: VK2735 Oral Tablet Formulation
VK2735 Oral Tablet Formulation
Slide 10: Oral VK2735 Phase 1 Results: Weight Change At 28 Days
Oral VK2735 Phase 1 Results: Weight Change At 28 Days Mean % Change in Body Weight at Day 28 ● Dose dependent reduction in body Placebo 2.5 mg 5 mg 10 mg 20 mg 40 mg 60 mg 80 mg 100 mg weight observed across VK2735 Baseline BW (kg) (n=18) 98.3 (n=8) 102.3 (n=6) 95.3 (n=6) 97.1 (n=8) 111.3 (n=7) 90.0
Slide 11: VK2735 Oral Phase 1 Results: Weight Loss Through Day 57
VK2735 Oral Phase 1 Results: Weight Loss Through Day 57 Change From Baseline Body Weight Over 57 Days ● Weight loss effects largely maintained through Day 57 1 0.8 % ● 4 Weeks from last study dose 0 0.0 % x -1 -0.9 % ● Suggests maintenance may be -1.5 % -2 Body Weight Percent Change from Baseline (%
Slide 12: VK2735 Oral Phase 1 Study: GI Tolerability Summary
VK2735 Oral Phase 1 Study: GI Tolerability Summary Common GI related TEAEs Placebo VK2735 VK2735 VK2735 VK2735 VK2735 VK2735 VK2735 VK2735 Number of subjects (n=19) 2.5 mg 5 mg 10 mg 20 mg 40 mg 60 mg 80 mg 100 mg reporting (%) (n=8) (n=7) (n=6) (n=8) (n=8) (n=9) (n=9) (n=9) GERD 1 (5%) 0 (0%) 0 (0%
Slide 13: VK2735 Oral Phase 1 Study Takeaways
VK2735 Oral Phase 1 Study Takeaways ● Up to 8.2% reduction in body weight observed after 28 days of oral dosing ● Progressive effect suggests further weight loss possible with longer treatment ● Majority of weight loss maintained 4 weeks after final dose ● Excellent tolerability profile through 100
Slide 14: VK2735 VENTURE Oral Dosing Study
VK2735 VENTURE Oral Dosing Study Topline Results
Slide 15: VENTURE Oral Dosing Phase 2a Study
VENTURE Oral Dosing Phase 2a Study Placebo (n=40) 15 mg VK2735 (n=40) 30 mg VK2735 (n=40) Follow-up Obese subjects, Randomize BMI ≥30 or ≥27 60 mg VK2735 (n=40) with comorbidity 90 mg VK2735 (n=40) 120 mg VK2735 (n=40) 90 mg VK2735 (n=40) -> 30 mg maintenance x 7 wks Double-Blind Treatment, 13 Weeks
Slide 16: VENTURE Oral Results: Weight Change At 13 Weeks
VK2735 VENTURE Oral Results: Weight Change At 13 Weeks Mean % Change in Body Weight at Week 13 ● Significant reduction in body Placebo 15 mg 30 mg 60 mg 90 mg 120 mg weight observed after 13 weeks Baseline BW (kg) (n=40) 105.2 (n=40) 99.0 (n=40) 102.9 (n=38) 102.8 (n=39) 103.4 (n=39) 101.9 ● Up to a
Slide 17: VK2735 Oral Phase 2 Results: Weight Loss Through Week 13
VK2735 Oral Phase 2 Results: Weight Loss Through Week 13 Change From Baseline Body Weight Over 13 Weeks ● Up to 12.2% mean weight loss among treated subjects 0 Body Weight Percent Change from Baseline -1.3% -1.3 % ● Progressive weight loss observed in -2 -2.3% x all treatment groups -4 ● Statistical
Slide 18: VK2735 Oral Phase 2 Results: Exploratory Maintenance Cohort
VK2735 Oral Phase 2 Results: Exploratory Maintenance Cohort Change From Baseline Body Weight Over 13 Weeks ● Exploratory cohort to evaluate transition to low dose maintenance 0 Body Weight Percent Change from Baseline -1.3 % -1.3% -2 ● Down-titration from 90mg to 30mg x produced continued gradual -4
Slide 19: VK2735 Oral Phase 2 Study: GI Tolerability Summary
VK2735 Oral Phase 2 Study: GI Tolerability Summary Common drug-related GI TEAEs Placebo VK2735 VK2735 VK2735 VK2735 VK2735 Number of subjects reporting (%) (n=40) 15 mg 30 mg 60 mg 90 mg 120 mg (n=40) (n=40) (n=40) (n=40) (n=40) GERD 0 (0%) 3 (8%) 0 (0%) 2 (5%) 1 (3%) 3 (8%) Nausea Potential Future
Slide 20: GI AEs Generally Observed Early and Subside Over Time
GI AEs Generally Observed Early and Subside Over Time Up titration Up titration Up titration ● GI AEs, expected per GLP-1 mechanism: nausea, vomiting, diarrhea, constipation 20
Slide 21: VENTURE Oral Phase 2 Study Takeaways, Next Steps
VK2735 VENTURE Oral Phase 2 Study Takeaways, Next Steps ● Up to 12.2% reduction in body weight observed after 13 weeks of oral dosing ● Progressive, dose-dependent weight loss observed across all treatment groups ● Exploratory maintenance cohort successfully demonstrates proof of concept ● Promising
Slide 22: VK2735 Subcutaneous Formulation Obesity
VK2735 Subcutaneous Formulation Obesity
Slide 23: Subcutaneous Formulation: Phase 1 SAD/MAD Takeaways
Subcutaneous Formulation: Phase 1 SAD/MAD Takeaways ● SAD study: Tmax ~72 hours, gradual onset; T1/2 170 – 253 hours, amenable to weekly dosing ● MAD study: Dose-dependent improvement in weight loss of up to 7.8% from baseline reported after 28 days in subjects with BMI ≥30 ● Durable weight loss mai
Slide 24: VENTURE Phase 2a Obesity Study Design
VK2735 VENTURE Phase 2a Obesity Study Design ● Phase 2a multicenter, parallel cohort, 13-week trial in obese patients (BMI ≥30 or ≥27 with comorbidity) o 3-week titration blocks applied at doses ≥5 mg ● Primary endpoint: Percent change in body weight at Week 13 vs. placebo 5 mg 7.5 mg 10 mg 15 mg N=
Slide 25: VENTURE Phase 2 Study Achieved Primary Endpoint
VENTURE Phase 2 Study Achieved Primary Endpoint Mean % Change in Body Weight After 13 Weeks ● Significant reduction in body VK2735 VK2735 VK2735 VK2735 weight observed after 13 weeks Placebo (n=34) 2.5 mg (n=35) 5.0 mg (n=35) 10.0 mg (n=35) 15.0 mg (n=35) Baseline weight (kg) 105 kg 103 kg 98 kg 103
Slide 26: VENTURE Phase 2 Results: Rapid, Progressive Weight Loss Observed
VENTURE Phase 2 Results: Rapid, Progressive Weight Loss Observed Change From Baseline Body Weight Over 13 Weeks ● Progressive weight loss observed in all VK2735 dosing cohorts 0 Body Weight Percent Change from Baseline -1.7 % -2 ● All doses statistically significant vs. -4 placebo starting in Week 1
Slide 27: VENTURE Phase 2 Study: GI Tolerability Summary
VENTURE Phase 2 Study: GI Tolerability Summary Common GI related TEAEs Placebo VK2735 VK2735 VK2735 VK2735 VK2735 Number of patients reporting (%) (n=35) 2.5 mg 5 mg 10 mg 15 mg Combined (n=35) (n=35) (n=35) (n=35) (n=140) GERD 1 (3%) 2 (6%) 5 (14%) 4 (11%) 6 (17%) 17 (12%) Nausea Mild 7 (20%) 5 (14
Slide 28: Time Course of GI AEs Through 13 Weeks; 10 mg and 15 mg Cohorts
Time Course of GI AEs Through 13 Weeks; 10 mg and 15 mg Cohorts Rate of Reported GI AEs Over Time - 10.0 mg Rate of Reported GI AEs Over Time - 15.0 mg W1 W2 W3 W4 W5 W6 W7 W8 W9 W10 W11 W12 W13 W1 W2 W3 W4 W5 W6 W7 W8 W9 W10 W11 W12 W13 48 48 44 44 % of Subjects in Each Week % of Subjects in Each W
Slide 29: VENTURE Phase 2 Study Takeaways
VENTURE Phase 2 Study Takeaways ● Up to 14.7% mean weight loss observed after 13 weeks of VK2735 treatment ● Promising tolerability, 92% of all drug related TEAEs mild to moderate ● Majority of GI-related AEs occur early in treatment, resolve ● Durable weight loss observed, >90% of efficacy retained
Slide 30: Subcutaneous: VANQUISH Phase 3 Overview
VK2735 Subcutaneous: VANQUISH Phase 3 Overview ● Two Phase 3 studies initiated in 2Q25 ဝ VANQUISH 1: Patients with obesity ဝ VANQUISH 2: Patients with type 2 diabetes and obesity ● Studies include extension to assess long-term safety, efficacy ● Enrollment complete in both studies 30
Slide 31: VANQUISH Phase 3 Study Design
VANQUISH Phase 3 Study Design Patients with obesity (VANQUISH-1, n=4668) or Patients with obesity and type 2 diabetes (VANQUISH-2, n=1011) 1.25 2.5 mg 5 mg 7.5 mg 10 mg 12.5 mg 15 mg 17.5 mg mg 1.25 2.5 mg 5 mg 7.5 mg 10 mg 12.5 mg mg Screening Begins 1.25 2.5 mg 5 mg 7.5 mg mg PLACEBO All Groups: C
Slide 32: Subcutaneous Maintenance Study – Enrollment Complete
VK2735 Subcutaneous Maintenance Study – Enrollment Complete 22.5 mg weekly SC (n=15) 22.5 mg monthly SC 20.0 mg weekly SC (n=15) 20.0 mg monthly SC Healthy subjects 17.5 mg weekly SC (n=15) 17.5 mg monthly SC with BMI ≥30 17.5 mg weekly SC (n=15) 15.0 mg monthly SC 17.5 mg weekly SC (n=15) 10.0 mg m
Slide 33: Financial Summary
Financial Summary ● Capital structure and summary financials June 30, 2026 June 30, 2026 Capital Structure Financials (‘000s) (‘000s) Shares outstanding 116,653 Cash burn YTD $203,865 Options, RSUs 7,834 Cash and ST Investments $501,874 Total shares, options, RSUs 124,487 33
Slide 34: Investment Highlights
Investment Highlights ● Developing novel therapeutics for metabolic and endocrine diseases ဝ Multiple clinical programs demonstrate potential best-in-class efficacy data ● Metabolic Disease Programs ဝ VK2735: GLP-1/GIP dual agonist for obesity VANQUISH Phase 3 program underway ဝ VK2735 Oral: GLP-1
Slide 35: Corporate Presentation
Corporate Presentation August 2026
Viking Therapeutics — Investor Presentation (August 2026) on 6ix