VK2735 competitive landscape: the 8 closest obesity programs

The competitive landscape for Viking Therapeutics' lead metabolic asset, VK2735, is defined by incretin receptor agonists, dual and triple co-agonists, and amylin combinations across subcutaneous and oral delivery routes. VK2735 is an internally discovered dual glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptor agonist in Phase 3 registration studies for subcutaneous injection and Phase 2 development for once-daily oral tablet dosing.[1]

The 8 closest competing clinical programs span commercialized benchmarks, late-stage injectable fixed-dose combinations, triple receptor agonists, and next-generation oral non-peptide small molecules. All 8 programs are detailed below with their molecular target profiles, clinical stages, latest efficacy readouts, next catalysts, and partnering or licensing origins, cited to ClinicalTrials.gov, SEC filings, and corporate press releases.

• Sponsor: Viking Therapeutics, Inc.[1]
• Molecule: VK2735[1]
• Mechanism: Dual GLP-1 and GIP receptor agonist[1]
• Route: Subcutaneous injection (once-weekly) and oral tablet (once-daily)[1]
• Current Phase: Phase 3 (subcutaneous, VANQUISH-1 and VANQUISH-2) and Phase 2 (oral tablet, VENTURE-Oral; Phase 3 oral expected 4Q26)[1]
• Latest Efficacy Readout: In the 13-week Phase 2 VENTURE subcutaneous trial, VK2735 demonstrated up to 14.7% mean body weight reduction from baseline (13.1% placebo-adjusted, p < 0.0001) at the highest dose of 15 mg weekly, reported February 27, 2024.[10] In the 21-week subcutaneous maintenance study induction phase, VK2735 achieved up to 18.7% mean weight loss (18.6% placebo-adjusted, p < 0.0001) at 20 mg weekly, with an exploratory cohort reaching 22% weight loss at Week 33, reported September 22, 2026.[11] In the 13-week Phase 2 VENTURE-Oral trial, once-daily oral VK2735 achieved up to 12.2% mean weight reduction from baseline (10.9% placebo-adjusted, p < 0.0001) at 120 mg, presented May 12, 2026.[12]
• Next Catalyst: Primary completion and topline 78-week clinical data readout from the Phase 3 VANQUISH-1 trial in obesity expected in late 2026/early 2027; initiation of Phase 3 oral tablet trial expected in 4Q26.[1]
• Partnering / Licensing Deals: VK2735 is wholly owned by Viking Therapeutics without out-licensing encumbrances; Viking entered into broad multi-year manufacturing supply agreements with CordenPharma in March 2025 covering commercial API and drug product fill/finish.[13]

Table 1. The 8 closest competing clinical obesity programs to Viking Therapeutics VK2735.

• Sponsor: Eli Lilly and Company.[2]
• Molecule: Tirzepatide (marketed as Zepbound for chronic weight management and Mounjaro for type 2 diabetes; formerly LY3298176).[2]
• Mechanism: Dual glucose-dependent insulinotropic polypeptide (GIP) and glucagon-like peptide-1 (GLP-1) receptor agonist.[2]
• Route: Subcutaneous injection administered once weekly.[2]
• Phase: Approved by the US FDA for chronic weight management in November 2023 and type 2 diabetes in May 2022; serves as the primary dual-agonist commercial benchmark.[2]
• Latest Efficacy Readout: In the pivotal 72-week Phase 3 SURMOUNT-1 trial in 2,539 adults with obesity or overweight without diabetes, tirzepatide 15 mg weekly achieved a mean weight reduction of 22.5% (52 lb / 24 kg) compared to 2.4% for placebo (placebo-adjusted difference -20.1%, p < 0.001) for the efficacy estimand, published in NEJM and presented at ADA on June 4, 2022.[14] Up to 96% of participants taking tirzepatide achieved ≥5% body weight reduction.[14]
• Next Catalyst: Completion and readout of the long-term Phase 3 SURMOUNT-MMO cardiovascular morbidity and mortality trial (NCT05556512), evaluating reduction in major cardiovascular events and all-cause mortality in participants with obesity.[15]
• Partnering / Licensing Deals: Discovered internally through Eli Lilly's proprietary research laboratories; Eli Lilly holds 100% global commercial rights without external licensing royalties.[15]
• ClinicalTrials.gov Identifier: NCT04184622 (SURMOUNT-1).[2]

• Sponsor: Novo Nordisk A/S.[3]
• Molecule: CagriSema (co-formulation of 2.4 mg cagrilintide and 2.4 mg semaglutide).[3]
• Mechanism: Dual-pathway combination of a long-acting amylin and calcitonin receptor agonist (cagrilintide) and a GLP-1 receptor agonist (semaglutide).[3]
• Route: Subcutaneous injection administered once weekly via fixed-dose pen injector.[3]
• Phase: Submitted / Pre-registration; New Drug Application (NDA) submitted to the US FDA in December 2025.[16]
• Latest Efficacy Readout: In the 68-week Phase 3 REDEFINE 1 trial in adults with overweight or obesity without type 2 diabetes, CagriSema demonstrated a mean body weight reduction of 22.7% versus 2.4% for placebo (placebo-adjusted difference -20.3%, p < 0.0001), published in NEJM and presented at ADA on June 22, 2025.[17] Among patients adhering to treatment, 60.2% achieved ≥20% weight loss and 23.1% achieved ≥30% weight loss.[17]
• Next Catalyst: US FDA regulatory action / Prescription Drug User Fee Act (PDUFA) approval decision anticipated in 2026.[16]
• Partnering / Licensing Deals: Both cagrilintide and semaglutide were discovered internally by Novo Nordisk scientists; Novo Nordisk retains full, unencumbered worldwide ownership.[18]
• ClinicalTrials.gov Identifier: NCT05567796 (REDEFINE 1).[3]

• Sponsor: Eli Lilly and Company.[4]
• Molecule: Retatrutide (LY3437943).[4]
• Mechanism: Triple hormone receptor agonist acting simultaneously on the glucose-dependent insulinotropic polypeptide (GIP), glucagon-like peptide-1 (GLP-1), and glucagon (GLUC) receptors.[4]
• Route: Subcutaneous injection administered once weekly.[4]
• Phase: Phase 3 pivotal development across the global TRIUMPH program.[4]
• Latest Efficacy Readout: Topline results from the pivotal Phase 3 TRIUMPH-2 and TRIUMPH-3 trials were reported on July 23, 2026.[19] In TRIUMPH-3 (adults with severe obesity and established cardiovascular disease), retatrutide 12 mg weekly delivered a mean body weight reduction of 22.6% (55.8 lb / 25.3 kg) versus 3.2% for placebo at 80 weeks using the efficacy estimand.[19] In TRIUMPH-2 (obesity and type 2 diabetes), retatrutide 12 mg delivered 20.8% (49.6 lb / 22.5 kg) mean weight loss at 80 weeks with HbA1c reductions of 1.6%.[19]
• Next Catalyst: Submission of a global Biologics License Application (BLA) to the US FDA targeted for the first quarter of 2027.[19]
• Partnering / Licensing Deals: Discovered internally by Eli Lilly's research scientists; Eli Lilly owns unencumbered global rights.[15]
• ClinicalTrials.gov Identifier: NCT05882045 (TRIUMPH-1) and NCT05929066 (TRIUMPH-3).[4]

• Sponsor: Eli Lilly and Company.[5]
• Molecule: Orforglipron (LY3502970).[5]
• Mechanism: Non-peptide, orally bioavailable small-molecule GLP-1 receptor agonist.[5]
• Route: Oral tablet administered once daily without food or water restrictions.[5]
• Phase: Submitted / Pre-registration; regulatory filings submitted to the US FDA, European Medicines Agency (EMA), and Japan PMDA in late 2025 under an FDA Commissioner's National Priority Voucher.[15]
• Latest Efficacy Readout: In the 72-week Phase 3 ATTAIN-1 trial in 3,127 adults with obesity or overweight without diabetes, orforglipron 36 mg once daily achieved a mean body weight reduction of 12.4% (27.3 lb / 12.4 kg) versus 0.9% (2.2 lb / 1.0 kg) for placebo (efficacy estimand, p < 0.0001), announced August 7, 2025.[20] In secondary analyses, 59.6% achieved ≥10% weight loss and 39.6% achieved ≥15% weight loss.[20]
• Next Catalyst: US FDA regulatory action / approval decision under expedited voucher review in 2026.[15]
• Partnering / Licensing Deals: Discovered by Chugai Pharmaceutical Co., Ltd. (OWL833); licensed exclusively worldwide to Eli Lilly in 2018 in exchange for upfront, milestone, and royalty payments.[20]
• ClinicalTrials.gov Identifier: NCT05869903 (ATTAIN-1).[5]

• Sponsor: F. Hoffmann-La Roche Ltd / Genentech.[6]
• Molecule: Enicepatide (formerly CT-388 / RO7795068).[6]
• Mechanism: Signaling-biased dual GLP-1 and GIP receptor agonist engineered for minimal beta-arrestin recruitment to reduce receptor internalization and preserve continuous signaling.[6]
• Route: Subcutaneous injection administered once weekly.[6]
• Phase: Phase 3 ready; Phase 2 CT388-103 trial completed.[6]
• Latest Efficacy Readout: In the 48-week Phase 2 CT388-103 trial in 469 adults with obesity, CT-388 titrated to 24 mg weekly demonstrated a statistically significant placebo-adjusted mean weight loss of 22.5% (efficacy estimand, p < 0.001) without reaching a weight loss plateau, announced January 27, 2026.[21] 54% of participants achieved resolution of obesity (BMI < 30 kg/m²), and 26.1% achieved ≥30% body weight loss.[21]
• Next Catalyst: Initiation of the Phase 3 ENITH registration clinical program in obesity (ENITH-1 and ENITH-2) in 2026.[21]
• Partnering / Licensing Deals: Discovered internally by Carmot Therapeutics using its Chemotype Evolution platform; acquired by Roche in January 2024 for $2.7 billion in upfront cash and up to $400 million in milestone payments.[22]
• ClinicalTrials.gov Identifier: NCT06525935 (CT388-103).[6]

• Sponsor: Amgen Inc.[7]
• Molecule: Maridebart cafraglutide (MariTide; formerly AMG 133).[7]
• Mechanism: Bispecific antibody-peptide conjugate consisting of a fully human monoclonal anti-GIP receptor antagonist antibody conjugated to two GLP-1 receptor agonist peptide analogues.[7]
• Route: Subcutaneous injection administered once monthly (every 4 weeks) or less frequently (extended interval / quarterly maintenance).[7]
• Phase: Phase 3 clinical development across the global MARITIME program.[23]
• Latest Efficacy Readout: In the 52-week double-blind, dose-ranging Phase 2 trial in people with obesity or overweight without diabetes, MariTide demonstrated up to ~20% average body weight loss at Week 52 without evidence of a weight loss plateau, announced November 26, 2024.[24] In people with type 2 diabetes, MariTide achieved up to ~17% average weight loss and lowered HbA1c by up to 2.2 percentage points at 52 weeks.[24] Part 2 maintenance data reported in January 2026 demonstrated sustained weight loss over a second full year on lower monthly or quarterly dosing.[23]
• Next Catalyst: Primary pivotal efficacy readouts from the global Phase 3 MARITIME registration trials and detailed 2-year maintenance data releases.[23]
• Partnering / Licensing Deals: Discovered internally by Amgen's research organization; Amgen owns 100% worldwide commercial rights.[23]
• ClinicalTrials.gov Identifier: NCT05669599 (Phase 2 dose-ranging study) and NCT06858839 (Phase 3 MARITIME-1).[7]

• Sponsor: Altimmune, Inc.[8]
• Molecule: Pemvidutide (formerly ALT-801).[8]
• Mechanism: Balanced (1:1 ratio) dual glucagon (GLUC) and GLP-1 receptor agonist engineered with EuPort domain technology for sustained pharmacokinetics.[8]
• Route: Subcutaneous injection administered once weekly.[8]
• Phase: Phase 2 obesity complete; Phase 3 ready for metabolic dysfunction-associated steatohepatitis (MASH) under FDA Breakthrough Therapy Designation.[25]
• Latest Efficacy Readout: In the 48-week Phase 2 MOMENTUM trial in 391 adults with obesity or overweight, pemvidutide 2.4 mg weekly achieved a mean body weight loss of 15.6% versus 2.2% for placebo (placebo-adjusted difference -13.4%, p < 0.0001) with weight loss continuing at the end of treatment, announced November 30, 2023.[26] DEXA body composition analyses demonstrated striking lean mass preservation, with 74.5% of weight loss derived from adipose tissue and only 25.5% from lean mass.[26]
• Next Catalyst: Initiation of the global Phase 3 PERFORMA registration trial in MASH in 2H 2026, alongside corporate partnering discussions for late-stage Phase 3 obesity co-development.[25]
• Partnering / Licensing Deals: Acquired through the purchase of Spitfire Pharma, Inc. in July 2019 for $5.0 million upfront cash and up to $88.0 million in development and regulatory milestones; Altimmune owns 100% global commercial rights.[27]
• ClinicalTrials.gov Identifier: NCT05295875 (MOMENTUM Phase 2).[8]

• Sponsor: Structure Therapeutics Inc.[9]
• Molecule: Aleniglipron (formerly GSBR-1290).[9]
• Mechanism: Orally available, non-peptide small-molecule selective GLP-1 receptor agonist.[9]
• Route: Oral tablet administered once daily without food or water intake restrictions.[9]
• Phase: Phase 2b complete / Phase 3 ready.[9]
• Latest Efficacy Readout: In the 44-week Phase 2 ACCESS II trial in adults living with obesity or overweight, aleniglipron achieved statistically significant placebo-adjusted mean weight loss of 16.3% (39 lb; p < 0.0001) at the 180 mg dose and 16.0% (37 lb; p < 0.0001) at the 240 mg dose with no evidence of a weight loss plateau, announced March 16, 2026.[28] In the ACCESS Open Label Extension study, continued weight loss reached 16.2% (40.5 lb) at 56 weeks with 120 mg.[28]
• Next Catalyst: Initiation of global Phase 3 clinical development in the second half of 2026 following an End-of-Phase 2 meeting with the US FDA in 2Q26.[28]
• Partnering / Licensing Deals: Discovered internally by Structure Therapeutics using its proprietary structure-based drug discovery platform; Structure Therapeutics retains 100% unencumbered global rights for aleniglipron.[29]
• ClinicalTrials.gov Identifier: NCT06703021 (ACCESS Phase 2b / ACCESS II).[9]