Viking Therapeutics' Earnings Calendar: What Investors Need to Track

Investors monitoring Viking Therapeutics VKTX have several key milestones to watch as the biotech company prepares to report its Q4 and full-year 2025 financial results in early 2026. The Viking calendar of events centers on the advancement of its lead obesity candidate, VK2735, a dual agonist targeting GLP-1 and glucose-dependent insulinotropic polypeptide receptors. With clinical trials progressing and competitive pressures mounting, the upcoming earnings announcement could prove pivotal for investor sentiment.

VK2735 Development: Where the Viking Story Stands

Viking Therapeutics is evaluating VK2735 across multiple late-stage studies as both oral and subcutaneous formulations for obesity treatment. The company successfully completed enrollment in the VANQUISH-1 trial in November 2025, which examined the subcutaneous version over a 78-week period in obese adults with weight-related comorbidities. The VANQUISH-2 study, targeting obese or overweight patients with type II diabetes, is expected to finish enrolling approximately 1,100 patients later in 2026.

Beyond obesity, Viking’s pipeline includes VK2809 for non-alcoholic steatohepatitis (NASH) and VK0214 for X-linked adrenoleukodystrophy (X-ALD). Management is anticipated to provide updated results from these programs during the earnings call, offering investors crucial insight into the company’s diversified drug development strategy.

The Competitive Landscape Tightens

The GLP-1 receptor agonist space has intensified dramatically, with Novo Nordisk NVO and Eli Lilly dominating through their injectable formulations, Wegovy and Zepbound. Novo Nordisk’s recent oral Wegovy launch and the expected FDA approval of Lilly’s oral obesity medication in the first half of 2026 have elevated competitive barriers for smaller biotech firms. This market evolution places additional pressure on Viking Therapeutics, particularly given the company’s more limited resources compared to pharmaceutical giants.

What to Expect: The Q4 Earnings Outlook

Since Viking Therapeutics has no marketed drugs currently generating revenue, the Q4 quarter is expected to show no product sales. The Zacks Consensus Estimate projects a loss of 89 cents per share. Escalating development activities—including the ongoing late-stage trials for VK2735 and research advancement across its pipeline—have likely pushed the company’s operating expenses higher during the period.

A Troubling Track Record on Earnings Surprises

One factor weighing on investor expectations is Viking’s history with earnings estimates. Over the trailing four quarters, the company has missed analyst expectations in every single quarter, delivering an average negative surprise of 21.66%. The most recent quarter saw VKTX miss by 15.71%, contributing to the stock’s 7.1% decline over six months—notably underperforming the industry’s 22.8% rise.

Investment Model Assessment

Viking Therapeutics currently carries a Zacks Rank #4 (Sell) rating with an Earnings ESP of 0.00%, as both the Most Accurate Estimate and Consensus Estimate align at a loss of 89 cents per share. This combination does not suggest a likely earnings beat at this time, according to established predictive models that combine Earnings ESP and Zacks Rank strength.

The Road Ahead

The Viking calendar over the coming months will be defined by clinical trial updates and the resolution of investor questions about competitive positioning. As the company works toward completing enrollment in its major obesity trials and advancing its NASH and X-ALD programs, all eyes will be on how management addresses the intensifying GLP-1 market dynamics and the path to eventual commercialization.