In recent years, a specific therapeutic area has seen explosive demand, creating significant revenue opportunities for companies serving this field or developing potential products. Biotech and pharmaceutical firms focused on this area are no longer just low-growth investments; they may even attract the attention of growth investors.
This field is obesity treatment. Currently, Eli Lilly (LLY) and Novo Nordisk (NVO) hold leading positions in the weight-loss drug market, but many other companies are striving to enter this market, which could approach nearly $100 billion by 2030. Viking Therapeutics (VKTX) is one of the strong contenders. Can it become the ultimate “millionaire-maker” weight-loss stock by 2026? Let’s take a look.
Viking is a biotech company focused on metabolic diseases and has not yet commercialized any drugs. Its leading weight-loss candidates—including both injectable and oral formulations—are in late-stage clinical trials. Among them, the injectable VK2735 is currently in Phase III trials, while the oral candidate is planned to enter Phase III trials in the third quarter of this year. The injectable trial for obesity has already completed patient enrollment ahead of schedule, indicating that people are eager to try this potential new drug.
Viking’s candidates belong to the GLP-1 class of drugs, which work by acting on hormonal pathways that control appetite and blood sugar. Already commercialized drugs, such as Eli Lilly’s Zepbound and Novo Nordisk’s Wegovy, are in such high demand that shortages have even occurred. These drugs are popular among people seeking weight loss because they are effective, generally well-tolerated, and convenient to use (the injectable version is self-administered once a week). Novo Nordisk and Eli Lilly have also recently launched daily oral medications.
The demand demonstrated so far suggests there is still ample market space for new entrants. Therefore, if everything goes smoothly for Viking in later-stage development, the company is well-positioned to capture some market share and achieve significant growth. For reference, Eli Lilly’s Zepbound generated over $4 billion in revenue in the most recent quarter. Even a small fraction of that would be enormous for a young biotech company.
Viking’s stock has soared on positive news. In February 2024, when it first released encouraging Phase II trial results for VK2735, the stock surged 121% in a single trading day. While not every piece of news will trigger a gain of that magnitude, double-digit increases would not be surprising if new signs of progress emerge. Since that massive one-day surge in 2024, Viking’s stock has pulled back—meaning that from current levels, if the company moves closer to product commercialization, the stock could still have substantial upside. Viking has also shown strength in the current challenging market environment, with its stock posting a modest gain so far this year.
That said, Viking alone is unlikely to make you a millionaire. In fact, it is very rare for a single stock to turn an investor into a millionaire—more often, it is a basket of carefully selected stocks working together that achieves that result. If Viking’s weight-loss drug program continues to deliver encouraging news, the stock represents a solid investment choice.
