Viking Therapeutics (NASDAQ:VKTX) is a biopharmaceutical company focused on developing therapies for metabolic and endocrine disorders. The company is gaining attention in the anti-obesity drug sector, particularly with its promising product pipeline. On December 18, 2025, H.C. Wainwright updated its grade for VKTX to Positive, maintaining a hold action, with the stock priced at $34.78.
Viking's dual GLP-1/GIP agonist, VK2735, is a key focus, drawing interest from major pharmaceutical companies. This interest is highlighted by recent industry activity, such as the bidding war between Pfizer and Novo Nordisk over Metsera, which Pfizer won. VK2735 is in late-stage trials, available in both oral and subcutaneous forms, making it an attractive acquisition target.
Despite the potential, VK2735 faces challenges. In August, phase 2 results showed a 20% discontinuation rate due to adverse events, mainly gastrointestinal issues, despite the drug's efficacy. This highlights both the potential and challenges within Viking's pipeline that larger companies might seek to capitalize on.
Viking is also expanding its pipeline with a promising amylin agonist program. The oral version of VK2735 has shown impressive results, achieving unmatched double-digit weight loss within just 13 weeks. This could position Viking as a leader in the oral obesity drug market, despite the high costs associated with Phase III trials and competitive market pressures.
Currently, VKTX is trading at $34.52, reflecting a slight increase of 0.63% or $0.22. The stock has traded between $34.17 and $35.09 today, with a market capitalization of approximately $3.9 billion. Viking holds a strong cash reserve of $714 million, but faces risks such as potential dilution and the costs of advancing its pipeline.
