Viking Therapeutics: A High-Stakes Bet on Obesity Innovation and Catalyst-Driven Rebound

The biotech sector is no stranger to rollercoaster rides, but Viking Therapeutics (VKTX) has delivered one of the most dramatic narratives of 2025. , the stock now trades at a discount that may not reflect its long-term potential. For investors willing to stomach the volatility, Viking presents a compelling case: a robust clinical pipeline, a strategic manufacturing partnership, .

The Catalyst: Phase 3 Trials and Dual-Route Dosing

Viking's lead asset, , is a dual GLP-1/GIP receptor agonist with two distinct delivery methods: subcutaneous injections and oral tablets. The VANQUISH Phase 3 program, now underway, aims to secure regulatory approval for the injectable formulation in adults with obesity or type 2 diabetes. , this trial could position VK2735 as a best-in-class option if it demonstrates superior efficacy to competitors like Novo Nordisk's WegovyDisappointing Obesity Pill Trial Results Cause Viking Therapeutics ...^[2].

Meanwhile, the VENTURE-Oral Dosing Trial. , Viking's strategy to transition patients from injectables to oral therapy could mitigate this risk. If the oral formulation proves tolerable at lower doses, it could capture a niche market of patients averse to injections, particularly in primary care settingsPrediction: Viking Therapeutics Stock Will Double in Value Within …^[4]. Top-line data in late 2025 will be pivotal.

Strategic Manufacturing: A Game-Changer

Viking's recent Viking Therapeutics, CordenPharma Strike Multi-Year Deal to^[5] is a masterstroke. This multi-year agreement ensures scalable production of both subcutaneous and oral formulations, with prepayments covering API, autoinjectors, and tablets. , Viking has effectively eliminated a critical bottleneck for commercialization. This partnership not only validates the market's confidence in VK2735 but also insulates the company from supply chain disruptions—a major concern in the obesity drug spaceB. Riley Highlights Two Major Benefits in Viking Therapeutics Manufacturing Deal^[6].

Market Sentiment: Undervalued or Overhyped?

, . While bears highlight tolerability issues and competition from Eli Lilly and Novo Nordisk, bulls argue the market is underestimating the injectable version's potential. , the stock appears to be pricing in a worst-case scenario.

Moreover, Viking's , reducing the need for dilutive financing. The DACRA program, targeting a dual amylin/calcitonin receptor agonist, .

Risks and Realities

No investment in Viking is without risk. . Additionally, the injectable version must differentiate itself in a market where Wegovy and Mounjaro already dominate. However, Viking's dual-route strategy and manufacturing readiness could give it an edge in niche segments, such as patients who prefer oral therapy or require dose adjustments.

Conclusion: A High-Reward Bet

Viking Therapeutics is a stock for the bold. The recent selloff has created an entry point for investors who believe in the power of its pipeline and the obesity market's growth trajectory. While the path to approval is fraught with challenges, the combination of Phase 3 trials, a bulletproof manufacturing partnership, . For those who can stomach the volatility, Viking offers a rare mix of innovation and catalyst-driven momentum.