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# Viking CEO Eyes Outside Obesity Deals After $575 Million Raise, Favors Own Pipeline
- URL: https://www.bullished.co/viking-ceo-eyes-outside-obesity-deals-after-575-million-raise-favors-own-pipeline-fddbf108/
- Published: 2026-10-28T21:51:51.000Z
- Updated: 2026-10-28T21:51:51.000Z
- Description: CEO Brian Lian says Viking is aware of attractive external assets, though the company would rather keep its focus in-house.
- Author: Matteo Parrino
- Tags: Earnings, VKTX, Industry: Healthcare

[Viking Therapeutics](https://www.bullished.co/tag/vktx/) CEO Brian Lian told analysts on the company's third-quarter earnings call Wednesday that it is "aware of other pretty interesting opportunities that are available right now externally," weeks after it closed offerings of common stock and convertible notes with gross proceeds of [about $575 million](https://finance.yahoo.com/healthcare/articles/viking-therapeutics-reports-third-quarter-200500003.html?ref=bullished.co). His stated preference, though, is to stay focused on Viking's own pipeline.

## Tempting deals, a preference for home

Viking is a clinical-stage biopharmaceutical company, meaning it is still testing its drug candidates in humans, and its lead obesity candidate is VK2735\. A JPMorgan analyst asked whether the company would in-license additional assets, citing the broader obesity pipeline including China.

Lian said Viking does not disclose much about internal strategic discussions, but that "there are some interesting programs out there that might be worth learning more about." Its practice, he said, would be to do as much diligence as possible and follow up on those that rise to the top. "The preference would be to maintain the focus on the internal pipeline," he said.

Lian said the money supports all programs and the company's growing commercial operations and launch plans.

## Cash climbs to $960 million

Chief Financial Officer Greg Zante said cash, cash equivalents and short-term investments stood at $960 million on September 30, against $706 million at the end of 2025\. The balance includes net proceeds of about $550 million from the financing.

Research and development expense rose to $166.8 million in the quarter from $90 million a year earlier. For the nine months it was $432.7 million, against $191.5 million. The company reported a net loss of $183.2 million, or [$1.55 per share](https://seekingalpha.com/news/4659567-viking-therapeutics-gaap-eps-of-1%5F55-misses-by-0%5F50?ref=bullished.co), compared with $90.8 million, or $0.81 per share, a year earlier.

Asked by a Lake Street analyst how spending would trend, Zante said general and administrative costs should stay fairly flat near term, with a pickup later toward commercialization. Those costs were $20.3 million in the quarter, up from $8.6 million.

## Pipeline milestones ahead

Viking's two Phase 3 Vanquish studies of the injectable VK2735 are fully enrolled. Earlier this month it began the Sunrise Phase 3 program for the oral version.

For VK3019, an amylin-receptor drug candidate, Lian said the company expects to finish a single-ascending-dose study by year-end and to start a multiple-ascending-dose study in the first quarter of 2027\. Results from part two of the maintenance dosing study are expected in 2027.

Viking expects to wrap the VK3019 single-dose study by the end of this year, with the multiple-dose study to follow in the first quarter of 2027.

### Sources

- [Viking Therapeutics GAAP EPS of -$1.55 misses by $0.50 (VKTX:NASDAQ) | Seeking Alpha](https://seekingalpha.com/news/4659567-viking-therapeutics-gaap-eps-of-1%5F55-misses-by-0%5F50?ref=bullished.co) — seekingalpha.com
- [Viking Therapeutics Reports Third Quarter 2026 Financial Results and Provides Corporate Update](https://finance.yahoo.com/healthcare/articles/viking-therapeutics-reports-third-quarter-200500003.html?ref=bullished.co) — Yahoo Finance
- [Should You Buy Viking Therapeutics Stock Ahead of Q3 Results?](https://finance.yahoo.com/markets/stocks/articles/buy-viking-therapeutics-stock-ahead-130200051.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [What 3 multibillion dollar biotechs still have to prove](https://finance.yahoo.com/healthcare/articles/3-multibillion-dollar-biotechs-still-124859709.html?ref=bullished.co) — Yahoo Finance

### More on Viking Therapeutics

- [Viking Wants A Maintenance Dosing Label For VK2735, But Says The Filing Plan Is 'TBD'](https://www.bullished.co/viking-wants-a-maintenance-dosing-label-for-vk2735-but-says-the-filing-plan-is-tbd-6d71eaec/)
- [Viking Therapeutics Loss Doubles To $183 Million As Obesity Drug Trials Multiply](https://www.bullished.co/viking-therapeutics-loss-doubles-to-183-million-as-obesity-drug-trials-multiply-4ecb7fce/)

[All Viking Therapeutics (VKTX) coverage →](https://www.bullished.co/tag/vktx/)