Robust Phase II Efficacy — Subcutaneous VK2735
Phase II VENTURE subcutaneous results showed statistically significant weight loss up to 14.7% after 13 weekly doses; Phase I subcutaneous cohorts showed up to ~8% weight loss after 4 weekly doses. Safety/tolerability described as encouraging with most adverse events mild or moderate.
Strong Oral Phase II Results
VENTURE-Oral topline results: once-daily oral VK2735 produced up to 12.2% mean weight loss after 13 weeks. Statistically significant differences vs placebo observed from week 1 for doses >15 mg. Up to 80% of subjects on VK2735 achieved ≥10% weight loss vs 5% for placebo.
Phase III Programs Initiated and Enrollment Progress
Initiated VANQUISH Phase III program (two trials: VANQUISH-1 for obesity, VANQUISH-2 for obesity + T2D). VANQUISH-1 fully enrolled ahead of schedule and exceeded the planned ~4,500 patient target; VANQUISH-2 (target ~1,100) is nearing completion.
Oral VK2735 Planned for Phase III
Following positive oral Phase II and an end-of-Phase II meeting with FDA, company plans to initiate oral VK2735 Phase III in Q3 2026, with expectations of shorter/leaner trial design vs VANQUISH (reduced duration/size/visit intensity possible).
Maintenance Dosing Study Launched and Enrolled
Phase I maintenance dosing study completed enrollment in January 2026; evaluates multiple regimens (monthly, every-other-week, weekly subcutaneous; weekly and daily oral) after 19 weeks of initial weekly dosing. Results expected in Q3 2026.
Commercial and Manufacturing Preparation
Signed comprehensive manufacturing and supply agreement with CordenPharma covering large-scale API and fill/finish for both subcutaneous and oral formulations (company indicates capacity to support a multibillion-dollar opportunity). Appointed Neil Aubuchon as Chief Commercial Officer to lead commercial strategy.
Pipeline Expansion — Amylin Agonist Program
Advanced amylin receptor agonist program with IND expected later this quarter; first-in-human dosing likely in Q2 2026 and potential Phase I data later in 2026, adding a differentiated mechanism to the obesity portfolio.
Solid Cash Position with Explicit Runway Commentary
Cash, cash equivalents and short-term investments of $706M at Dec 31, 2025. Management states this balance is sufficient to support key upcoming milestones (maintenance study, Phase III subcutaneous readouts and oral Phase III top-line data).