Viking Therapeutics starts phase 1 trial for next-gen obesity drug beyond GLP-1

Viking Therapeutics Inc. started a phase 1 clinical trial for VK3019, a dual amylin and calcitonin receptor agonist that targets an appetite-control pathway separate from the GLP-1 class behind Ozempic and Zepbound, the company said June 24. The candidate is the biotech's first obesity program to work outside the incretin system.

"Amylin is a hormone released with insulin after a meal that activates receptors in the brain stem to promote satiety and slow gastric emptying," said Sam Goldstein, a biotech analyst. "Adding calcitonin activation is meant to produce metabolic effects that amylin alone does not achieve."

The phase 1 study is enrolling adults with a body mass index of 30 or above, with VK3019 formulated as an injectable. Preclinical animal model data showed the dual agonist led to up to 8 percent weight reduction against controls, according to the company. Viking, a pre-revenue biotech, did not disclose the trial's expected completion date or patient enrollment target.

Viking enters a race where two larger competitors are already deep into development. Eli Lilly reported phase 2 results for eloralintide, its amylin receptor agonist, in November 2025, with patients achieving mean weight reductions of 9.5 percent to 20.1 percent after 48 weeks against a 0.4 percent loss with placebo. Phase 3 is underway. Novo Nordisk's cagrilintide produced 11.8 percent weight loss versus 2.3 percent for placebo over 68 weeks, and its phase 3 program began in late 2025. A combination therapy called CagriSema, pairing cagrilintide with semaglutide, was submitted to the US Food and Drug Administration in December, with review expected this year.

The combination approach is where Viking may find its opening. The company already owns VK2735, a dual GLP-1 and GIP receptor agonist in phase 3 trials. Pairing it with VK3019 could create a multi-hormonal regimen that competes with Lilly's and Novo Nordisk's next-generation programs. Lilly has already completed a phase 1 study of eloralintide administered with tirzepatide and is enrolling a phase 3 trial adding eloralintide to a weekly incretin.

For VK3019 to capture meaningful market share, it will need to demonstrate substantially better efficacy or tolerability than the incumbents' candidates. Viking shares, which trade on the Nasdaq, have risen more than 200 percent over the past two years on optimism around its obesity pipeline. The company's cash position and burn rate will determine how far it can advance without a partnership or additional financing. Eli Lilly and Novo Nordisk, with market capitalizations exceeding $800 billion and $500 billion respectively, have the resources to outspend any challenger on clinical development and manufacturing scale.

This article is for informational purposes only and does not constitute investment advice.