Phase 2 is where peptide programs prove dose, target engagement, and proof-of-concept efficacy before committing to Phase 3 capital. Coverage on this site has tracked Phase 2 readouts and trial initiations across metabolic, oncology, and pulmonary indications.
Recent Phase 2 activity covered here: Boehringer Ingelheim's first-in-class triple GLP-1/GIP/NPY2 agonist BI 3034701 advancing to Phase 2 in mid-2026; Rein Therapeutics' LTI-03 Phase 2 RENEW trial with 8 patients enrolled in idiopathic pulmonary fibrosis; Bicycle Therapeutics dosing the first patient in a Phase 2 nuzefatide pevedotin trial in recurrent pancreatic cancer (April 2026); and Biomea Fusion's icovamenib COVALENT-112 52-week Phase 2 type-1 diabetes data showing a 52% C-peptide AUC increase. Several Roche, Pfizer, and AstraZeneca obesity-pipeline assets sit in Phase 2 readouts due before year-end 2026.
Stories here cover Phase 2 readouts, dose-selection decisions, and the bridge to Phase 3. See #phase-3, #clinical-trials, and #dose-selection.
Viking Therapeutics presented full 13-week Phase 2 VENTURE-Oral data at ECO 2026 May 12 in Istanbul: once-daily oral VK2735 produced statistically significant, dose-dependent mean weight loss up to 12.2% (26.6 lbs) over 13 weeks with placebo-adjusted significance starting at Week 1. The favorable tolerability profile and rapid early onset of effect support Viking's Q4 2026 plan to initiate a Phase 3 trial of the oral formulation following positive FDA feedback. The data complements the Phase 3 VANQUISH-1 subcutaneous program (4,650 patients enrolled November 2025) and VANQUISH-2 in T2D+obesity (~1,000 patients, enrollment completed March 26, 2026). VK2735's dual GLP-1/GIP mechanism puts it in direct comparison with tirzepatide and the next-generation Mounjaro/Zepbound franchise.
Bicycle Therapeutics confirmed in its AACR 2026 update that the company began enrolling patients in a Phase 2 study of nuzefatide pevedotin (BT5528) in adults with recurrent pancreatic ductal adenocarcinoma in March 2026, with the first patient successfully dosed in April. The bicyclic peptide-drug conjugate targets EphA2-expressing tumor cells. Earlier Phase 1/2 data — through a February 9, 2026 cutoff — showed 40% confirmed ORR in EphA2+ urothelial cancer patients on nuzefatide 6.5 mg/m² plus nivolumab, rising to 100% confirmed ORR in MMAE-naïve EphA2+ patients (n=14). The company has identified 8 mg/m² Q2W as the preferred monotherapy dose. The PDAC trial extends Bicycle's footprint into a difficult tumor type where EphA2 imaging readouts at AACR 2026 reinforced target validation.
Rein Therapeutics announced April 29 a clinical update for its Phase 2 RENEW trial of LTI-03 — a peptide therapeutic for idiopathic pulmonary fibrosis (IPF). 8 patients have been enrolled to date, with 2 additional patients expected to be enrolled this week. Enrollment began March 2026 and continues steadily. LTI-03 is one of the few peptide candidates in the IPF space, where current standards of care (pirfenidone, nintedanib) have meaningful tolerability limits. The peptide-based approach is mechanistically distinct, targeting Caveolin-1-related fibrotic pathways.
Boehringer Ingelheim disclosed alongside the survodutide topline that BI 3034701, a first-in-class triple GLP-1/GIP/NPY2 receptor agonist peptide, will enter Phase 2 in mid-2026. The compound completed a randomized placebo-controlled Phase 1 study in healthy volunteers and people with overweight/obesity that demonstrated favorable safety and tolerability and encouraging weight loss. BI 3034701 was developed in collaboration with Gubra, with Boehringer responsible for further development and global commercialization. The novel NPY2 component targets satiety pathways complementary to incretin agonism — a meaningful mechanistic differentiation in the next-gen obesity pipeline.