VK2735 is Viking Therapeutics’ dual GLP-1/GIP receptor agonist, notable for being developed in both an oral tablet and a once-weekly injectable form at the same time. The injectable version is now in Phase 3 trials, while the oral tablet has reported Phase 2 results, making VK2735 one of the more closely watched candidates in the crowded next-generation obesity drug pipeline.

What It Is and How It Works

VK2735 activates both the GLP-1 and GIP receptors, the same dual mechanism used by the approved drug tirzepatide. Activating both receptors together is thought to produce greater appetite suppression and metabolic effect than targeting GLP-1 alone, though, as with other dual- and triple-agonist candidates covered on this site, the precise contribution of the GIP component in humans is still being studied rather than fully settled.

Two Formulations in Development

Viking is developing VK2735 in parallel as a once-weekly subcutaneous injection and as a daily oral tablet — an approach distinct from most competitors, who have generally developed one formulation first. The injectable form is in Phase 3 testing under the VANQUISH-1 and VANQUISH-2 trials. The oral tablet, evaluated in the Phase 2 VENTURE-Oral Dosing trial, is earlier in development, and the company has said it’s also exploring low-dose oral tablets as a maintenance option for patients who start on either the injectable or a higher oral dose.

What the Trial Data Show So Far

In the Phase 2 VENTURE-Oral Dosing trial (280 participants with obesity or overweight), the oral tablet produced up to 12.2% average weight loss from baseline over 13 weeks, with 97% of participants reaching at least 5% weight loss and 80% reaching at least 10%, compared with 10% and 5% respectively on placebo. Those figures come from a relatively short, 13-week Phase 2 trial in a few hundred people — a much smaller and shorter dataset than the Phase 3 trials now underway for the injectable formulation — so they should be read as early, not final, evidence of efficacy.

Regulatory Status

VK2735 is not FDA-approved in either formulation. The injectable version entered Phase 3 testing in mid-2025 following positive Phase 2 results announced in August 2025, and Phase 3 data, followed by an approval application and FDA review, would still need to happen before either formulation could reach the market.

How It Compares to Approved Dual Agonists

Cross-trial comparisons between VK2735’s early data and tirzepatide’s mature Phase 3 record, discussed in this site’s SURMOUNT and SURPASS trial guide, are limited by the usual caveats: different trial lengths, different patient populations, and, in VK2735’s case, a much smaller and earlier-stage dataset. The more informative comparison will come once VK2735’s own Phase 3 results are available.

The Bottom Line

VK2735 is an investigational drug in both its oral and injectable forms, with Phase 3 data still to come for the injectable version and earlier-stage Phase 2 data so far for the oral tablet. Its ultimate role, if approved, will depend on how its Phase 3 results compare with the growing list of approved and pipeline GLP-1/GIP and multi-agonist drugs already covered on this site.