Leerink sees Viking obesity data as clear win, expects strength in shares

Leerink notes that Viking Therapeutics (VKTX) has announced positive topline data from the highly anticipated Phase 2 VENTURE trial of subcutaneous VK2735 for the treatment of obesity, showing very impressive placebo-adjusted weight loss of up to 13.1% in just 13 weeks of dosing. This efficacy meaningfully exceeds Viking and investor expectations, and appears to compare favorably with competing GLP-1/GIP agonists, including Eli Lilly’s (LLY) tirzepatide, which drove less than 10% absolute weight reduction at all doses at the 13-week mark in the Phase 3 SURMOUNT-1 trial, the firm says. Overall, Leerink views the data as “a clear win” for Viking and expects significant strength in Viking’s shares. The firm reiterates an Outperform rating on the shares but says price target is under review.