Viking Therapeutics Inc

Eli Lilly's GLP-1 portfolio significantly outperformed Novo Nordisk's in the second quarter of 2026, with Mounjaro sales jumping 91% to $9.94 billion and Zepbound rising 46% to $4.93 billion, together accounting for nearly 65% of Lilly's total revenues. In contrast, Novo Nordisk's Ozempic generated $4.88 billion and Wegovy injectable sales were $3.03 billion, both essentially flat at constant exchange rates. Lilly's oral GLP-1 drug Foundayo posted only $98 million in sales but is gaining momentum with broad U.S. payer coverage and the Medicare GLP-1 Bridge program, positioning it to challenge Novo's oral Wegovy. Smaller biotechs Viking Therapeutics and Structure Therapeutics are also advancing oral GLP-1 candidates, with Viking planning phase III trials for VK2735 in the fourth quarter and Structure initiating late-stage studies for aleniglipron. Lilly stock has risen 14% this year, and the Zacks Consensus Estimate for 2026 earnings per share has increased from $34.21 to $35.93 over the past 30 days.

Novo Nordisk reported second-quarter 2026 sales of $12.21 billion, up 3% at constant exchange rates, but its key GLP-1 brands Ozempic and Wegovy injectable were flat year over year, while Eli Lilly's Mounjaro and Zepbound surged 91% and 46% respectively. Novo Nordisk's oral GLP-1 franchise, including the Wegovy pill and Ozempic pill/Rybelsus, generated $1.31 billion in the quarter, but Lilly's newly launched oral pill Foundayo posted $98 million and could erode Novo's oral lead. Novo Nordisk has sued Lilly over advertising for Mounjaro and Zepbound, and raised its 2026 guidance to a 0-6% decline in adjusted sales and operating profit at constant exchange rates, from a prior 4-12% decline. Smaller biotechs Viking Therapeutics and Structure Therapeutics are also advancing oral GLP-1 therapies, with Viking planning phase III for VK2735 in the fourth quarter of 2026 and Structure dosing patients in its late-stage ACCOMPLISH program for aleniglipron.

Novo Nordisk is set to report second-quarter 2026 results on August 5, with investors focused on sales of its blockbuster GLP-1 drugs Ozempic and Wegovy, which together generated 63.2 billion Danish kroner in the first quarter and accounted for about 65% of total sales. The company has expanded its oral semaglutide franchise with the U.S. launch of the Wegovy pill in January and the EU approval earlier this month, while oral Ozempic received FDA approval in May and was subsequently launched in the United States. However, Novo Nordisk's weak 2026 outlook points to declining adjusted sales and operating profit, and second-quarter growth for Wegovy and Ozempic is expected to remain under pressure from intensifying competition with Eli Lilly, pricing challenges in the U.S., weaker prescription trends for injectable GLP-1 drugs, and reduced Medicaid obesity coverage. Eli Lilly, which reports its own second-quarter results on the same day, has launched its oral GLP-1 pill Foundayo to compete directly with Novo Nordisk's Wegovy pill, while its tirzepatide injections Mounjaro and Zepbound generated a combined 12.82 billion dollars in first-quarter sales. Smaller biotech firms Viking Therapeutics and Structure Therapeutics are also advancing GLP-1-based therapies, with Viking planning to move oral VK2735 into phase 3 trials in the fourth quarter and Structure expecting to initiate a late-stage program for aleniglipron in the second half of 2026.

Viking Therapeutics has appointed Dorothy Gemmell to its board of directors, effective immediately. Ms. Gemmell brings over 25 years of leadership experience across healthcare, digital health, and commercialization, having served as president or chief commercial officer at companies including GoodRx, Capsule, and Havas Life. Her appointment comes as the clinical-stage biopharmaceutical company advances its next-generation therapies and prepares for the potential launch of VK2735, its lead obesity program currently in Phase 3 clinical studies. Viking's chairman Lawson Macartney noted that her commercial expertise will be valuable as the company executes on its long-term goals.

Viking Therapeutics has launched a phase 1 trial of VK3019, a dual amylin and calcitonin receptor agonist for obesity, marking its first candidate outside the GLP-1 pathway. The study, announced on June 24, enrolls adults with a body mass index of 30 or above and tests an injectable formulation. Viking aims to target a new appetite-regulating hormone, but larger rivals Eli Lilly and Novo Nordisk are far ahead with their own amylin programs. Eli Lilly's eloralintide showed up to 20.1% weight loss in phase 2 and is now in phase 3, while Novo Nordisk's cagrilintide delivered 11.8% weight loss in phase 2 and entered phase 3 in late 2025, with a combination therapy CagriSema already submitted for FDA review. Viking also holds VK2735, a GLP-1/GIP dual agonist in phase 3, and could pair it with VK3019, though Lilly is already testing a similar combination of eloralintide and tirzepatide in phase 3.

The weight-loss drug boom is producing both massive winners and near-total wipeouts among clinical-stage biotech companies, as a single trial result can send a stock soaring or crashing. Viking Therapeutics has gained more than 500% over five years after its obesity drug cleared a major mid-stage trial and advanced into final-stage testing, while Skye Bioscience has lost roughly 99% over the same period after its competing drug missed the main goal in a standalone test, falling more than 60% in one day. The high-stakes nature of drug development means only about eight of every 100 programs that enter initial safety testing ultimately win approval, with Phase II serving as the biggest hurdle where most failures occur. Investors also face funding-clock risk, as cash-burning companies may dilute existing shareholders before reaching the next milestone. Exchange-traded funds offer a way to spread these risks, with the SPDR S&P Biotech ETF and the ALPS Medical Breakthroughs ETF each gaining about 25% this year, roughly double the return of the iShares Biotechnology ETF, while dedicated weight-loss funds have largely missed the surge because they lean toward large drugmakers like Eli Lilly and Novo Nordisk.

CRISPR Therapeutics and Viking Therapeutics are two beaten-down biotech stocks with significant upside potential, according to an analysis. CRISPR Therapeutics, known for the first approved CRISPR-based gene-editing therapy Casgevy, has seen its stock decline since 2021 due to profit-taking, slow Casgevy revenue, and unprofitability, but upcoming clinical data readouts and Casgevy's blockbuster potential could drive a recovery. Viking Therapeutics, which surged on strong phase 2 results for its obesity drug VK2735, has since pulled back, yet its pipeline—including an oral VK2735 formulation, a phase 3-ready NASH candidate VK2809, and the orphan drug VK0214—positions it for substantial gains if clinical and regulatory milestones are met. Both companies carry typical biotech risks, but their innovative pipelines and market opportunities make them compelling for risk-tolerant investors.

Investors are increasingly viewing Viking Therapeutics as a potential acquisition target, driven by the company's expanding obesity franchise. The late-stage development of VK2735, a dual GLP-1/GIP receptor agonist, remains the primary value driver, with subcutaneous and oral formulations advancing through clinical trials. Viking has also initiated a phase I study for VK3019, a novel dual amylin and calcitonin receptor agonist, further diversifying its pipeline. Upcoming data from a maintenance dosing study on VK2735, expected in the third quarter of 2026 for subcutaneous and the first half of 2027 for oral, could serve as another catalyst. The obesity market is projected to reach $100 billion in the United States by 2030, with competition intensifying as Eli Lilly and Novo Nordisk advance next-generation therapies.

The GLP-1 trade has matured into a tiered opportunity set spanning an entrenched leader, a deep-value incumbent, and a clinical-stage challenger. Eli Lilly posted first-quarter 2026 earnings per share of $8.55 on revenue of $19.80 billion, up 56% year over year, driven by Mounjaro at $8.66 billion and Zepbound at $4.16 billion, and launched Foundayo, the only approved GLP-1 pill with no food or water restrictions. Novo Nordisk trades at roughly 10 times earnings and about 45% below its 52-week high, with a market cap of around $169 billion, and its Reddit aggregate sentiment score flipped to bullish in late June. Viking Therapeutics is pre-revenue with a market cap of about $4.7 billion, and its lead asset VK2735 showed up to 12% mean body weight reduction in a Phase 2 oral trial, with a Phase 3 oral program expected to begin in the third quarter of 2026.

Viking Therapeutics could be 120% undervalued according to the most popular analyst narrative, which sets a fair value of $92.72 per share versus the last close at $42.13. This view rests heavily on the company's obesity pipeline, including the advancement of VK2735 into large late-stage trials VANQUISH-1 and VANQUISH-2, and the recent start of a Phase 1 trial for VK3019, a dual amylin and calcitonin receptor agonist. However, a separate Simply Wall St discounted cash flow model suggests the stock is overvalued, with an estimated future cash flow value of $14.02 per share. The bullish case faces risks if the VANQUISH trials stumble on efficacy or safety, or if rising R&D spend forces heavier shareholder dilution.

Viking Therapeutics has initiated a Phase 1 single ascending dose trial of VK3019, a dual amylin and calcitonin receptor agonist for obesity, following FDA clearance of its investigational new drug application. The company is simultaneously advancing its late-stage VK2735 injectable obesity program and planning a Phase 3 oral program, underscoring a broadening multi-mechanism weight-loss pipeline. Viking holds a cash base of US$706,000,000 to fund these efforts, with VK2735 remaining the lead value driver and VK3019 emerging as a potential second act. The most important near-term catalyst is the Phase 3 VANQUISH trial data for VK2735, while the biggest risk is any delay or setback that prolongs heavy R&D spending without offsetting product income.

Viking Therapeutics' dual GLP-1/GIP agonist VK2735 demonstrated mid-teens percentage weight loss in just 13 weeks during phase 2 trials, a faster timeline than oral offerings from Eli Lilly and Novo Nordisk. The drug is being developed as a dual-formulation therapy, potentially allowing an initial injectable phase for rapid weight loss followed by an oral maintenance dose. A phase 1 maintenance study is underway, with subcutaneous dosing results expected in the third quarter of this year and oral dosing data in early 2027. Phase 3 results for the subcutaneous formulation are due mid to late 2027, while oral phase 3 data is expected in late 2028 or early 2029. The phase 2 oral trial saw a 20% discontinuation rate due to adverse events, though management may adjust titration in phase 3 to improve tolerability.

A $1,000 investment in Viking Therapeutics could grow to around $2,500 by 2030 if its obesity drug candidate VK2735 captures 1% of a projected $150 billion weight-loss market, according to an analysis. The optimistic case assumes VK2735, sold as both a weekly injection and a daily pill, achieves $1.5 billion in annual sales and commands a price-to-sales ratio of 10, valuing the company at $15 billion, though share dilution from future fundraising could reduce returns. A best-case scenario where VK2735 captures 3% to 5% of the market with minimal dilution could push the investment to $10,000, but this is considered unlikely. The drug faces fierce competition from Eli Lilly and Novo Nordisk, whose established treatments and next-generation candidates set a high bar, and Viking's phase 3 injectable trials won't complete until 2027, with oral trials just starting. If the candidate fails in larger studies, the investment could drop 60% to 80%, leaving just a couple of hundred dollars.

Viking Therapeutics stock rose 19.2% in June, driven by rising optimism over its weight-loss drug pipeline. The company's lead candidate, VK2735, a GLP-1/GIP agonist, has shown a steeper rate of weight loss in Phase 2 trials for both oral and injectable formulations, with Phase 3 trials underway or starting later this year. Viking also initiated a Phase 1 study of VK3019, a dual amylin and calcitonin receptor agonist that represents a new class of weight-loss drugs with a different mechanism. Additionally, an ongoing Phase 1 maintenance trial is evaluating an initial injectable dose of VK2735 followed by an oral maintenance dose, with initial results expected in the third quarter. Investors are hopeful that positive trial outcomes will further validate the company's potential in the competitive weight-loss market.

Novo Nordisk and Viking Therapeutics offer contrasting ways to invest in the booming obesity drug market. Novo Nordisk remains the global GLP-1 leader with a 54.6% volume market share, driven by blockbusters Ozempic, Rybelsus, and Wegovy, and is expanding labels for cardiovascular and kidney disease while advancing next-generation candidates like CagriSema and amycretin. However, it faces 2026 sales and earnings declines, pricing pressure, and fierce competition from Eli Lilly's tirzepatide and newly approved oral Foundayo. Viking Therapeutics is a clinical-stage biotech with no approved products, but its lead candidate VK2735, a dual GLP-1/GIP agonist, has shown promise in phase III studies with data expected in 2027, and it recently advanced a second obesity drug, VK3019, into phase I. Year to date, NVO shares have lost 5.5% while VKTX gained 8.2%, and VKTX trades at a higher price-to-book ratio of 8.8 versus NVO's 6.75. Despite near-term headwinds, Novo Nordisk's established portfolio, label expansions, and commercial scale make it the better pick for a balanced risk-reward profile, while Viking offers higher long-term upside tied to clinical success.

SpaceX stock is unlikely to double anytime soon due to its roughly $2 trillion market cap and near-term insider selling risks, but ADMA Biologics, EyePoint Pharmaceuticals, and Viking Therapeutics have realistic paths to doubling relatively quickly. ADMA Biologics is already profitable, with first-quarter net income of $407 million, up 22% year over year, and analysts see a 12-month price target roughly double its current share price. EyePoint Pharmaceuticals expects top-line results from two late-stage trials of its wet AMD drug Duravyu any day now, and the consensus 12-month price target is 165% above its current share price. Viking Therapeutics is advancing its obesity candidate VK2735 into Phase 3 trials, with an average analyst price target implying 146% upside.

The Motley Fool selects Viking Therapeutics over Dyne Therapeutics as the better healthcare stock for 2026, citing the massive obesity-treatment market opportunity for Viking's weight-loss candidate VK2735. Both clinical-stage biotechs reported zero revenue and widening net losses in fiscal 2025, with Dyne posting a loss of nearly $446.2 million and Viking close to $359.6 million. Viking carries no debt and holds a current ratio of roughly 9.3x, while Dyne has a debt-to-equity ratio of 0.19x and a current ratio of approximately 22.3x. The analysis notes Dyne's focus on rare neuromuscular diseases limits its market size, whereas Viking's phase 3 obesity program targets a far larger patient population despite competition from Eli Lilly and Novo Nordisk. Viking also faces an investigation into potential securities-law violations and relies on a license agreement with Ligand Pharmaceuticals.

Viking Therapeutics extended its winning streak to an eighth consecutive day on Tuesday as investors reacted to Medicare's upcoming coverage of anti-obesity treatments. Beginning July 1, 2026, Medicare's GLP-1 Bridge program will cover drugs such as Foundayo, Wegovy, and Zepbound, sparking interest in weight-loss drug developers including Viking, which is developing VK2735 for obesity and type 2 diabetes. The rally was also partly driven by investor funds rotating out of AI into other high-growth sectors. Separately, Viking appointed Hubert Chen as chief medical officer to oversee clinical development, medical, and regulatory affairs.

The Motley Fool argues that Viking Therapeutics may be a better buy than Eli Lilly for investors seeking exposure to the GLP-1 drug market, which Grand View Research projects will exceed $185 billion by 2033. Eli Lilly, valued near $1 trillion, posted first-quarter 2026 revenue of $19.8 billion and saw profits nearly triple to $7.4 billion, driven by its approved drugs Mounjaro and Zepbound, but trades at 39 times trailing earnings. Viking Therapeutics, with a market cap around $4 billion, has no approved products or revenue, yet its investigational drug VK2735 is in phase 3 trials and earlier showed average weight loss of up to 15%, making it a high-risk, high-upside play. The article concludes that taking a modest position in Viking could be a calculated risk given the drug's progress and the potential for a single approval to transform the stock.

Viking Therapeutics is positioning itself as a potential challenger to Eli Lilly and Novo Nordisk in the anti-obesity drug market with its lead candidate VK2735. In phase 2 trials, a weekly injectable formulation of VK2735 led to up to 14.7% weight loss over 13 weeks, while an oral version achieved up to 12.2% weight loss over the same period, with mostly mild or moderate gastrointestinal side effects. These results appear competitive with currently marketed drugs, though Eli Lilly's tirzepatide showed 20.2% weight loss over 72 weeks in a separate trial. Viking faces stiffer competition from late-stage pipeline candidates, including Eli Lilly's retatrutide, which delivered 28.3% weight loss over 80 weeks, and Novo Nordisk's CagriSema, which showed 22.7% weight loss over 68 weeks. Phase 3 trials for the injectable VK2735 are underway with top-line data expected no earlier than 2027, while the oral formulation's phase 3 is set to begin around the end of this year. If late-stage data confirm earlier results, Viking could capture a slice of a market projected to reach $100 billion, significantly boosting its $3.5 billion market cap.