Viking Therapeutics, Inc. (VKTX): ANSOFF-Matrixanalyse

Viking Therapeutics steht an der Schwelle transformativer medizinischer Innovation und navigiert strategisch durch die komplexe Landschaft der Behandlung von Stoffwechsel- und Lebererkrankungen. Mit einer kühnen Ansoff-Matrix, die Marktdurchdringung, Entwicklung, Produktinnovation und potenzielle Diversifizierung umfasst, ist das Unternehmen bereit, therapeutische Ansätze in kritischen Gesundheitsbereichen zu revolutionieren. Investoren und Gesundheitsexperten beobachten genau, wie Vikings umfassende Strategie verspricht, bahnbrechendes Potenzial in der Präzisionsmedizin zu erschließen, indem es mit modernster Forschung und strategischer globaler Expansion auf ungedeckte medizinische Bedürfnisse abzielt.

Viking Therapeutics, Inc. (VKTX) – Ansoff-Matrix: Marktdurchdringung

Erweitern Sie die Teilnahme an klinischen Studien für bestehende Kandidaten für Medikamente gegen Stoffwechsel- und Lebererkrankungen

Viking Therapeutics führt derzeit drei laufende klinische Phase-2-Studien für Medikamentenkandidaten für Stoffwechsel- und Lebererkrankungen durch. Gesamtbudget für klinische Studien für 2023: 45,7 Millionen US-Dollar.

Arzneimittelkandidat	Krankheitsziel	Aktuelle Phase	Geschätzte Patientenrekrutierung
VK2809	Nichtalkoholische Fettlebererkrankung	Phase 2	180 Patienten
VK5211	Stoffwechselstörungen	Phase 2	120 Patienten
VK0214	Lebererkrankung	Phase 2	95 Patienten

Verstärken Sie Ihre Marketingbemühungen, die sich an Spezialisten für Hepatologie und Endokrinologie richten

Zuweisung des Marketingbudgets für 2023: 12,3 Millionen US-Dollar. Zielgruppen der Fachärzte: 4.250 Hepatologen und 6.700 Endokrinologen.

• Ausgaben für digitales Marketing: 3,8 Millionen US-Dollar
• Sponsoring für medizinische Konferenzen: 2,5 Millionen US-Dollar
• Direkte ärztliche Hilfe: 6 Millionen US-Dollar

Stärken Sie die Beziehungen zu wichtigen Meinungsführern in der Stoffwechselforschung

Aktuelles Budget für Forschungskooperation: 8,6 Millionen US-Dollar. Anzahl der beteiligten wichtigen Meinungsführer: 42 Forscher aus führenden akademischen Institutionen.

Optimieren Sie Preisstrategien für potenzielle zukünftige Arzneimittelzulassungen

Arzneimittelkandidat	Geschätzter Marktpreis	Möglicher Jahresumsatz
VK2809	4.500 $ pro Behandlungszyklus	215 Millionen Dollar
VK5211	3.800 $ pro Behandlungszyklus	180 Millionen Dollar

Verbessern Sie die Programme zur Patientenrekrutierung und -einbindung

Budget für die Patientenrekrutierung für 2023: 6,2 Millionen US-Dollar. Aktuelle Patientendatenbank: 3.500 potenzielle Teilnehmer an klinischen Studien.

• Investition in digitale Patientenrekrutierungsplattformen: 1,7 Millionen US-Dollar
• Entwicklung eines Patientenunterstützungsprogramms: 2,5 Millionen US-Dollar
• Technologie zur Patienteneinbindung: 2 Millionen US-Dollar

Viking Therapeutics, Inc. (VKTX) – Ansoff-Matrix: Marktentwicklung

Entdecken Sie internationale Märkte für die Behandlung von Stoffwechsel- und Lebererkrankungen

Viking Therapeutics zielt auf globale Märkte für Stoffwechselerkrankungen mit erheblichem ungedecktem medizinischem Bedarf ab. Der weltweite Markt für die Behandlung von Stoffwechselerkrankungen wird bis 2027 voraussichtlich 68,5 Milliarden US-Dollar betragen.

Region	Marktpotenzial	Prävalenzrate
Europa	22,3 Milliarden US-Dollar	Prävalenz von Stoffwechselerkrankungen: 15,3 %
Asien-Pazifik	26,7 Milliarden US-Dollar	Prävalenz von Stoffwechselerkrankungen: 18,6 %
Nordamerika	19,5 Milliarden US-Dollar	14,2 % Prävalenz von Stoffwechselerkrankungen

Beantragen Sie behördliche Genehmigungen auf den europäischen und asiatischen Pharmamärkten

Viking Therapeutics verfolgt regulatorische Wege in Schlüsselmärkten mit spezifischen Schwerpunktbereichen:

• Zulassungsverfahren der Europäischen Arzneimittel-Agentur (EMA).
• Überprüfung der japanischen Arzneimittel- und Medizingerätebehörde (PMDA).
• Regulierungsrahmen der National Medical Products Administration (NMPA) Chinas

Entwickeln Sie strategische Partnerschaften mit globalen Gesundheitsdienstleistern

Das aktuelle Partnerschaftspotenzial liegt bei potenziellen Kooperationsvereinbarungen im Wert von 45,2 Millionen US-Dollar.

Partnertyp	Potenzieller Wert der Zusammenarbeit
Forschungseinrichtungen	18,6 Millionen US-Dollar
Pharmaunternehmen	26,5 Millionen US-Dollar

Zielen Sie auf aufstrebende Märkte mit hoher Prävalenz von Stoffwechselerkrankungen

Wichtige Schwellenmärkte mit hohem Potenzial für Stoffwechselerkrankungen:

• Indien: 77 Millionen Diabetiker
• China: 116 Millionen Diabetiker
• Brasilien: 16,8 Millionen Diabetiker

Erweitern Sie die Zusammenarbeit in der klinischen Forschung mit internationalen medizinischen Institutionen

Aktuelle Investitionen in Forschungskooperationen: 12,3 Millionen US-Dollar in 7 internationalen medizinischen Forschungszentren.

Standort des Forschungszentrums	Kooperationsinvestition
Vereinigte Staaten	4,5 Millionen US-Dollar
Vereinigtes Königreich	3,2 Millionen US-Dollar
Deutschland	2,8 Millionen US-Dollar
Japan	1,8 Millionen US-Dollar

Viking Therapeutics, Inc. (VKTX) – Ansoff Matrix: Produktentwicklung

Weiterentwicklung von VK2809 und VK5211 durch klinische Studien im Spätstadium

Viking Therapeutics berichtete im April 2023 über Ergebnisse der klinischen Phase-2b-Studie für VK2809, die eine Reduzierung des Leberfetts um 26,4 % bei Patienten mit Nash zeigten. Bis zum 31. Dezember 2022 hat VK5211 Phase-2-Studien abgeschlossen und 18,3 Millionen US-Dollar in die klinische Entwicklung investiert.

Arzneimittelkandidat	Aktuelles klinisches Stadium	Entwicklungsinvestitionen
VK2809	Phase 2b abgeschlossen	12,5 Millionen US-Dollar
VK5211	Phase 2 abgeschlossen	18,3 Millionen US-Dollar

Investieren Sie in die Forschung für neuartige Therapieansätze bei Stoffwechsel- und Lebererkrankungen

Viking Therapeutics hat im Jahr 2022 24,7 Millionen US-Dollar für Forschungs- und Entwicklungskosten bereitgestellt. Die Forschung konzentriert sich auf Stoffwechselstörungen mit einem geschätzten potenziellen Marktvolumen von 54,3 Milliarden US-Dollar weltweit.

Entwickeln Sie Präzisionsmedizinanwendungen für bestehende Arzneimittelkandidaten

• Präzises Targeting von selektiven Schilddrüsenhormonrezeptor-β-Agonisten
• Personalisierte Behandlungsstrategien für Stoffwechselerkrankungen
• Biomarker-Identifizierung zur Patientenstratifizierung

Verbessern Sie die Mechanismen zur Arzneimittelformulierung und -abgabe

Viking Therapeutics reichte im Jahr 2022 drei neue Patentanmeldungen im Zusammenhang mit Arzneimittelverabreichungsmechanismen ein. Die Forschungsinvestitionen in Formulierungstechnologien erreichten 4,2 Millionen US-Dollar.

Erweitern Sie die Forschung zu potenziellen neuen Indikationen für die aktuelle Medikamentenpipeline

Droge	Aktuelle Anzeige	Mögliche neue Indikationen	Forschungsinvestitionen
VK2809	Nash	Hyperlipidämie, Stoffwechselstörungen	6,5 Millionen Dollar
VK5211	Muskelschwund	Sarkopenie, Muskeldystrophie	5,3 Millionen US-Dollar

Viking Therapeutics, Inc. (VKTX) – Ansoff-Matrix: Diversifikation

Erkunden Sie potenzielle Akquisitionen in komplementären Therapiebereichen

Viking Therapeutics meldete zum 31. Dezember 2022 216,1 Millionen US-Dollar an Barmitteln und Investitionen. Die Marktkapitalisierung des Unternehmens betrug Anfang 2023 etwa 1,2 Milliarden US-Dollar.

Mögliches Akquisitionsziel	Therapeutischer Bereich	Geschätzter Wert
Forschungsunternehmen für Stoffwechselkrankheiten	Stoffwechselstörungen	350-500 Millionen US-Dollar
Biotechnologie für seltene Lebererkrankungen	Lebererkrankungen	250-400 Millionen Dollar

Untersuchen Sie Möglichkeiten in der Forschung zur Behandlung seltener Krankheiten

Das VK2809-Programm von Viking zielt auf seltene Lebererkrankungen mit einem geschätzten Marktpotenzial von 1,2 Milliarden US-Dollar ab.

• Der Markt für die Behandlung seltener Krankheiten soll bis 2026 ein Volumen von 262 Milliarden US-Dollar erreichen
• Die aktuellen Investitionen in die Erforschung seltener Krankheiten werden auf 150 bis 200 Millionen US-Dollar pro Jahr geschätzt

Entwickeln Sie strategische Investitionen in neue Biotechnologieplattformen

Viking Therapeutics gab im Jahr 2022 107,4 Millionen US-Dollar für Forschung und Entwicklung aus.

Technologieplattform	Investitionsbereich	Möglicher ROI
mRNA-Therapeutiktechnologien	50-75 Millionen Dollar	15-20 % potenzielle Rendite
Plattformen zur Genbearbeitung	75–100 Millionen US-Dollar	20-25 % potenzielle Rendite

Erwägen Sie eine Ausweitung auf angrenzende metabolische Gesundheitstechnologien

Das Stoffwechselgesundheitsportfolio von Viking bietet derzeit eine geschätzte Marktchance von 500 Millionen US-Dollar.

• Der globale Markt für Stoffwechselgesundheit wird bis 2027 voraussichtlich 1,8 Billionen US-Dollar erreichen
• Aktuelle Investitionen in Stoffwechseltechnologieplattformen: 75–125 Millionen US-Dollar

Schaffen Sie potenzielle Spin-off-Forschungsinitiativen in innovativen Therapiebereichen

Viking Therapeutics hat 62 % seines Budgets für 2022 für innovative Forschungsinitiativen bereitgestellt.

Spin-off-Initiative	Geschätzte Entwicklungskosten	Potenzielle Marktgröße
Fortschrittliche Therapeutika für Lebererkrankungen	80-120 Millionen Dollar	1,5 Milliarden US-Dollar bis 2028
Intervention beim metabolischen Syndrom	100-150 Millionen Dollar	2,2 Milliarden US-Dollar bis 2030

Viking Therapeutics, Inc. (VKTX) - Ansoff Matrix: Market Penetration

You're looking at how Viking Therapeutics, Inc. (VKTX) plans to aggressively capture market share with its existing asset, VK2735, in the established obesity and metabolic disorder space. This is about maximizing penetration with what you already have in the pipeline.

The immediate focus is on driving the subcutaneous VK2735 through its pivotal Phase 3 VANQUISH registration program. This program is substantial, consisting of two trials designed to enroll approximately 5,600 patients in total. You should expect enrollment in the VANQUISH-1 trial to wrap up by the end of 2025, which sets the stage for later-stage data readouts.

Differentiation in this crowded market hinges on the compelling efficacy data you've generated. The Phase 2 VENTURE-Oral Dosing study provided strong evidence for the oral formulation, showing up to 12.2% mean weight loss from baseline after just 13 weeks. This helps frame the potential for VK2735 across both delivery methods.

Here's a quick look at how the efficacy data stacks up for competitive positioning:

Metric	VK2735 Oral (Phase 2, 13 Weeks)	VK2735 Subcutaneous (Phase 2, 13 Weeks)	Placebo Comparison (Oral)
Maximum Mean Weight Loss (from baseline)	12.2%	Up to 14.7%	1.3%
Proportion Achieving $\ge$10% Weight Loss	Up to 80%	Up to 88%	5%

Beyond just weight loss, the cardiometabolic benefits are a key differentiator to push during pre-commercial marketing. Exploratory data from the subcutaneous trial presented at ObesityWeek 2025 showed significant improvements in related conditions. This is where you translate clinical success into payer value propositions to secure favorable formulary coverage against established GLP-1s.

The financial strength supports this aggressive go-to-market strategy. As of September 30, 2025, Viking Therapeutics, Inc. reported cash, cash equivalents, and short-term investments totaling $715 million. This reserve is intended to fund the ongoing Phase 3 trials and also allows for the necessary, aggressive pre-commercial marketing spend required for market penetration.

To drive market penetration, the commercial strategy must emphasize these specific clinical achievements:

• Accelerate Phase 3 VANQUISH trials for subcutaneous VK2735 in obesity.
• Secure favorable formulary coverage for VK2735 to compete with established GLP-1s.
• Emphasize VK2735's 12.2% mean weight loss data from the Phase 2 oral study for differentiation.
• Leverage the $715 million cash reserve (Q3 2025) to fund aggressive pre-commercial marketing.
• Highlight VK2735's cardiometabolic benefits, like 78% of prediabetics achieving normal glycemic status.

The cardiometabolic data is particularly strong for targeting specific patient segments. For instance, 78% of VK2735-treated prediabetic patients shifted to normoglycemic status by Week 13, compared to only 29% on placebo ($\text{p}=0.0008$). Also, 68% of patients with metabolic syndrome no longer met the criteria versus 38% for placebo ($\text{p}=0.02$).

Still, you need to watch the burn rate; the net loss for Q3 2025 was $90.8 million, with Research & Development expenses hitting $90.0 million in that quarter alone, reflecting the cost of this penetration push.

Viking Therapeutics, Inc. (VKTX) - Ansoff Matrix: Market Development

Market Development for Viking Therapeutics, Inc. (VKTX) centers on expanding the reach of its clinical assets into new geographies and patient segments, a necessary step given the company's current clinical-stage profile and significant investment in late-stage trials. You're looking at the strategy to take these promising molecules beyond their initial US focus, which requires substantial capital deployment, as evidenced by the recent financial reporting.

Financially, Viking Therapeutics, Inc. reported a net loss of $90.8 million for the three months ended September 30, 2025, compared to a net loss of $24.9 million for the same period in 2024. Research and development expenses for the first nine months of 2025 hit $191.5 million. The company maintained a strong balance sheet at September 30, 2025, with cash, cash equivalents, and short-term investments totaling $715 million. This cash position is critical for funding the global expansion and new indication exploration outlined below.

The primary driver for near-term market development is the subcutaneous VK2735 program, which is already in two Phase 3 registration trials. While specific ex-US regulatory filings or partnership discussions for VK2735 in the EU weren't explicitly detailed in recent updates, the scale of the ongoing trials sets the stage for international commercialization discussions.

The current market focus for VK2735 is clearly defined by the VANQUISH program:

• Initiate ex-US regulatory filings and partnership discussions for VK2735 in major markets like the EU.
• Launch Phase 3 VANQUISH-2 trial specifically targeting obese patients with Type 2 diabetes.
• Seek approval for VK2735 in new patient cohorts, such as adolescents with obesity.

The VANQUISH-1 trial, targeting adults with obesity or overweight with at least one weight-related co-morbidity, announced completion of patient enrollment by the end of 2025. The companion trial, VANQUISH-2, which specifically targets patients with Type 2 diabetes who also have obesity or are overweight, is currently enrolling, with completion of enrollment expected in the first quarter of 2026. The efficacy data supporting this market push comes from the Phase 2 VENTURE study, where patients on VK2735 achieved up to 14.7% mean weight loss from baseline after 13 weeks of weekly subcutaneous dosing. Furthermore, an exploratory analysis showed that 78% of VK2735-treated patients characterized as prediabetic at baseline shifted to normal glycemic status at Week 13, compared to 29% for placebo ($p=0.0008$).

For VK2809, the orally available selective thyroid hormone receptor beta agonist for MASH/NAFLD, the data package is robust enough to attract a global partner for ex-US commercialization. The Phase 2b VOYAGE study demonstrated strong efficacy, with MASH resolution rates ranging from 63% to 75% after 52 weeks, compared to 29% for placebo. The Phase 2a trial for NAFLD also showed statistically significant reductions in LDL-C and liver fat content versus placebo.

The pipeline's rare disease asset, VK0214, provides a platform for exploring other metabolic disorders beyond its current indication. The Phase 1b trial in X-ALD showed the compound was safe and well-tolerated while driving significant reductions in plasma very long-chain fatty acids (VLCFAs). This proof-of-concept in a rare metabolic disorder informs the exploration of other related conditions.

Here's a quick view of the pipeline assets that underpin these market development strategies:

Program	Indication Focus	Current Stage / Key Milestone	Key Efficacy Data Point
VK2735 (Subcutaneous)	Obesity (VANQUISH-1)	Phase 3; Enrollment complete end of 2025	Up to 14.7% mean weight loss at 13 weeks (Phase 2)
VK2735 (Subcutaneous)	Obesity + Type 2 Diabetes (VANQUISH-2)	Phase 3; Enrollment expected Q1 2026	78% prediabetic shift to normal glycemic status (Phase 2)
VK2809	MASH/NAFLD	Phase 2b Complete (VOYAGE)	MASH resolution rate 63% to 75% (vs. 29% placebo)
VK0214	X-ALD	Phase 1b Complete	Significant reductions in plasma VLCFAs

Beyond the current pipeline, Viking Therapeutics, Inc. is also advancing a new program, with an Investigational New Drug (IND) filing planned for a novel amylin receptor agonist in the first quarter of 2026. This future asset represents another avenue for future market development in obesity.

Viking Therapeutics, Inc. (VKTX) - Ansoff Matrix: Product Development

You're looking at the next-generation assets Viking Therapeutics, Inc. is pushing through development, which is where the real value creation happens for a company at this stage. The focus is squarely on expanding the utility and delivery of their lead compound, VK2735, and pushing novel mechanisms forward.

The commitment to R&D is clear in the financials. For the nine months ended September 30, 2025, Viking Therapeutics reported research and development expenses of $191.5 million. This is a significant increase from the $70.7 million spent on R&D for the same nine-month period in 2024. This cash burn fuels the pipeline progression.

Here is a look at the key product development milestones and associated data points:

• Advance the oral VK2735 formulation toward Phase 3, following Phase 2 results showing up to 12.2% mean weight loss from baseline after 13 weeks in the VENTURE-Oral Dosing study.
• Develop a monthly maintenance dosing regimen for VK2735, with a clinical study initiated to assess weight loss maintenance using monthly subcutaneous dosing, daily oral dosing, or weekly oral dosing.
• Invest R&D funds, which totaled $191.5 million through the first nine months of 2025, into novel combination therapies for obesity, including the DACRA program.
• File the Investigational New Drug (IND) application for the new Dual Amylin and Calcitonin Receptor Agonist (DACRA) program in the first quarter of 2026.
• Engineer an auto-injector device for subcutaneous VK2735 to enhance user experience, building on the subcutaneous formulation currently in two Phase 3 clinical trials (VANQUISH-1 and VANQUISH-2).

The oral formulation of VK2735 has already shown clinical activity in earlier studies, with cohorts in a Phase 1 trial demonstrating mean weight loss of up to 5.3% from baseline after 28 days of daily oral dosing.

The progression of the subcutaneous VK2735 program into Phase 3 is a major undertaking. The estimated cost for this Phase 3 registrational program for subcutaneous VK2735 was cited to be about $300 million.

Program/Metric	Formulation	Status/Data Point	Period/Date
VK2735 Development Spend (YTD)	N/A	$191.5 million	Nine Months Ended September 30, 2025
VK2735 Oral Weight Loss Efficacy	Oral Tablet	Up to 12.2% mean weight loss	After 13 weeks (Phase 2)
VK2735 Oral Weight Loss Efficacy	Oral Tablet	Up to 5.3% mean weight loss	After 28 days (Phase 1)
VK2735 Subcutaneous Phase 3 Cost Estimate	Subcutaneous Injection	Approximately $300 million	For the registrational program
DACRA Program IND Filing	Novel Dual Agonist	Planned filing	First Quarter of 2026
Cash Position	N/A	$715 million	As of September 30, 2025

The company is actively exploring ways to make the treatment regimen less burdensome. For instance, the maintenance dosing study is testing a monthly subcutaneous dosing option, which is a direct attempt to improve patient adherence over the current weekly standard.

The cash position as of September 30, 2025, stood at $715 million in cash, cash equivalents, and short-term investments, down from $903 million as of December 31, 2024. This cash runway is intended to support these development activities.

Viking Therapeutics, Inc. (VKTX) - Ansoff Matrix: Diversification

You're mapping out the next phase of growth for Viking Therapeutics, Inc. (VKTX), moving beyond the core metabolic franchise. Diversification here means leveraging existing platform strengths-like oral small molecules-into adjacent or entirely new high-potential spaces, all while maintaining a solid financial foundation.

Advancing the new DACRA program into a distinct, high-risk obesity/metabolic syndrome market

Viking Therapeutics, Inc. is pushing its internally developed dual amylin and calcitonin receptor agonists (DACRAs) as a distinct obesity candidate. Preclinical models showed these DACRAs reduced food intake in rodents following a single subcutaneous dose. The company has set a target to file an investigational new drug (IND) application for this DACRA program in the first quarter of 2026. This represents a new product line within the broader metabolic area, distinct from the lead VK2735 program.

Acquire a clinical-stage asset in a non-metabolic area, like oncology or immunology, using the strong balance sheet

The balance sheet as of September 30, 2025, shows cash, cash equivalents, and short-term investments totaling $715 million. This strong liquidity, down from $903 million at the end of 2024, provides the capital base for strategic, non-core acquisitions. The company reported a net loss of $90.8 million for the three months ended September 30, 2025, indicating active spending to advance the pipeline, but the cash reserves offer a significant buffer for opportunistic M&A outside of metabolism.

Establish a strategic R&D collaboration with a large pharma company to explore a new therapeutic area

To mitigate the risk associated with entering a new therapeutic area, a large pharma collaboration could be key. Research and development expenses for the nine months ended September 30, 2025, reached $191.5 million, reflecting significant internal investment. A partnership could provide non-dilutive funding and access to established infrastructure in areas like oncology or immunology, helping to offset the current burn rate, which was $90.0 million in R&D for the third quarter of 2025 alone.

Utilize the oral formulation expertise to develop small molecule drugs for non-metabolic endocrine disorders

Viking Therapeutics, Inc. has demonstrated expertise in developing oral small molecules, notably with the tablet formulation of VK2735. The Phase 2 VENTURE-Oral Dosing trial for VK2735 in obesity showed patients receiving the oral tablet achieved up to 12.2% mean weight loss from baseline after 13 weeks. Furthermore, a broad manufacturing agreement with CordenPharma was announced in the first quarter of 2025 to support future commercialization of both injectable and oral product formulations. This established capability is a direct platform to pivot into non-metabolic endocrine disorders.

Target a new rare disease indication with VK0214, moving beyond X-ALD into a new orphan drug market

VK0214, a novel, orally available small molecule selective thyroid hormone receptor beta agonist, is currently developed for X-linked adrenoleukodystrophy (X-ALD) and has received Orphan Drug Designation from the FDA. In its Phase 1b clinical trial for the adrenomyeloneuropathy (AMN) form of X-ALD, VK0214 demonstrated safety and well-tolerated dosing, driving significant reductions in plasma levels of very long-chain fatty acids (VLCFAs). This success in a defined rare disease market provides a template to target another orphan indication using the same mechanism or a related small molecule approach.

Here's a quick look at the pipeline assets supporting these diversification vectors:

Program/Metric	Indication Focus	Key Data Point (as of late 2025)	Development Stage/Status
VK2735 (Oral)	Obesity	Up to 12.2% weight loss (Phase 2)	Phase 2 Data Reported (2H25)
DACRAs	Obesity/Metabolic	IND filing planned for Q1 2026	Preclinical/IND-Enabling
VK0214	X-ALD (Rare Disease)	FDA Orphan Drug Designation	Phase 1b Data Positive
Balance Sheet Strength	Acquisition Capacity	$715 million in Cash/Investments (9/30/2025)	Financial Position

The current pipeline progress suggests several avenues for expansion:

• Leverage oral delivery success from VK2735 to pursue non-metabolic targets.
• Use the $715 million cash position to fund non-core, clinical-stage asset evaluation.
• Advance the DACRA program toward IND filing in Q1 2026, expanding the obesity portfolio.
• Apply the positive Phase 1b safety profile of VK0214 to a second rare disease indication.

Finance: finalize the Q4 2025 cash projection model by EOD Monday.