Viking Therapeutics’ oral-2735 could differentiate asset, says JPMorgan

JPMorgan keeps an Overweight rating and $80 price target on Viking Therapeutics (VKTX) after the company announced that it has initiated the ph2a trial for oral 2735, a dual GIP/GLP-1 dual agonist. The trial is not yet posted on clinicaltrials.gov, but the firm “wouldn’t be surprised” to see Viking incorporate slightly slower titration for the higher doses after patients in phase 1 were on the target dose in just the 2nd week – a comparatively aggressive titration schedule that still led to an overall favorable tolerability profile relative to other orals in development and in proximity to subQ formulation, the analyst tells investors in a research note. The firm maintains that Viking’s oral-2735 asset should continue to point to an attractive efficacy and tolerability trade-off in the phase 2a trial, and this profile could meaningfully differentiate the asset, giving it a clear role in the oral obesity market.