Viking Therapeutics in Focus: Phase 3 Trials for Obesity Drug Underway

Viking Therapeutics is currently conducting Phase 3 trials for its leading obesity drug candidate. The US-based biotech company focuses on developing therapeutics for the treatment of metabolic and liver diseases as well as obesity. The company's stock has traded between $29 and $34 in recent months.

Stock Performance in Q2 2026

On June 4, 2026, Viking Therapeutics stock (NASDAQ: VKTX) closed at $29.78. This represented a gain of 1.53 percent versus the previous day. About two months earlier, on April 6, 2026, the stock traded at $33.93 after falling 2.5 percent. At the end of March, there was more pronounced volatility: on March 30, 2026, VKTX closed at $29.94 following a decline of 7.95 percent within a single trading day.

Phase 3 Program for Obesity Candidate

The company's focus is on the clinical development of its leading obesity drug. Phase 3 trials represent the final clinical testing phase before potential approval and typically involve several hundred to thousands of participants. In this phase, the drug's efficacy is tested against placebo or existing therapies, while safety data is simultaneously collected in a broader population.

The market for weight loss medications has experienced strong growth since the approval of GLP-1 receptor agonists such as semaglutide (Wegovy) and tirzepatide (Zepbound). Viking Therapeutics positions itself in this competitive landscape with its own therapeutic approach.

Long-Term Market Perspective

Analysts are discussing the long-term potential of Viking Therapeutics in the obesity market. In an analysis from June 23, 2026, the question was raised whether the VKTX stock below $35 would represent a worthwhile investment. The assessment was based on the ongoing Phase 3 trials and the assumption that the stock price could rise significantly with positive study results.

Another analysis from April 3, 2026 examined where Viking Therapeutics stock could be in ten years. The authors pointed out that the company has the opportunity to become a leading provider in the weight loss medication market. At the same time, they emphasized that the company's plans could face significant obstacles.

Classification for Investors

Viking Therapeutics is in a typical phase for clinical biotech companies: the company does not yet generate product revenues, but instead invests in clinical development. Success depends heavily on the results of the ongoing Phase 3 trials. Positive data could pave the way for market approval, while negative results would fundamentally call the business model into question.

The stock price fluctuations between late March and early June 2026 reflect the typical volatility of biotech stocks, whose valuations are heavily dependent on binary events such as study results or approval decisions. The range of around 17 percent between the low in late March and the high in early April demonstrates the uncertainty associated with investing in companies without approved products.

For investors in the DACH region, it is important to note that VKTX is quoted exclusively in US dollars and therefore carries currency risk. In addition, the regulatory situation should be considered: a possible FDA approval in the United States does not automatically mean simultaneous approval by the European Medicines Agency (EMA) for the European market.