CRISPR Therapeutics vs. Viking Therapeutics: Is a Gene-Editing or Weight Loss Focused Stock Is a Better Buy in 2026?

Genetic engineering and weight-loss innovation have become focal points for modern healthcare investors. Choosing between CRISPR Therapeutics AG (NASDAQ:CRSP) and Viking Therapeutics (NASDAQ:VKTX) depends on your appetite for risk and your belief in their distinct medical breakthroughs.

CRISPR Therapeutics uses gene-editing technology to address diseases at their genetic source, while Viking focuses on metabolic conditions such as obesity that affect millions globally. Both companies represent high-potential opportunities within the biotechnology space, though they currently sit at very different stages of their respective commercial journeys.

The case for CRISPR Therapeutics

CRISPR Therapeutics focuses on developing transformative gene-based medicines using its proprietary CRISPR/Cas9 platform. The company recently achieved a major milestone with the commercial launch of Casgevy, a treatment for sickle cell disease and transfusion-dependent beta thalassemia. It operates under a strategic collaboration with Vertex Pharmaceuticals (NASDAQ:VRTX), which manages global manufacturing and commercialization. Customer concentration like this adds a layer of risk to the business, as CRISPR Therapeutics relies on this partner for 60% of its profits and losses.

In FY 2025, revenue was about $3.5 million, representing a decrease of approximately 90% from the prior year. This decline is largely due to the transition from receiving one-time milestone payments to building out long-term commercial revenue streams from its approved products. The company reported a net loss of close to $581.6 million. Investing in biotech stocks requires an understanding of how these companies move from early research to global commercialization.

As of its December 2025 balance sheet, the debt-to-equity ratio was roughly 0.2x. This ratio measures total debt relative to the equity shareholders have in the company, with a lower number indicating less reliance on borrowed money. Free cash flow was negative $345.9 million, representing the amount of cash a company generates after paying for capital expenditures.

The case for Viking Therapeutics

Viking Therapeutics is a clinical-stage biopharmaceutical company that develops therapies for metabolic and endocrine disorders. Its primary focus is on obesity and liver diseases, which are some of the fastest-growing areas in the modern healthcare market. The company currently lacks its own commercial infrastructure and depends on a Master License Agreement with Ligand Pharmaceuticals (NASDAQ:LGND) for its core pipeline assets. It also uses third-party manufacturers, such as CordenPharma, to produce its drug candidates for ongoing clinical trials.

During FY 2025, Viking Therapeutics did not generate any revenue, which is expected for a company that does not yet have any products approved for sale. The company reported a net loss of approximately $359.6 million for the year. These figures reflect the significant costs associated with running large-scale clinical trials for its lead obesity candidate and other metabolic programs. Without a product currently on the market, the company must fund its operations through its existing cash reserves or capital raises.

Based on the December 2025 balance sheet, the company had no net debt, meaning it had more cash on hand than it owed. Free cash flow was negative $697.7 million, and the company will likely require additional capital to support its path toward potential commercialization.

Risk profile comparison

CRISPR Therapeutics faces risks to long-term financial sustainability, as it continues to incur operating losses while awaiting Casgevy’s scale-up. The gene-editing field is also subject to intense regulatory scrutiny, and there is no guarantee that future candidates will achieve similar approval success. Additionally, the company is involved in ongoing intellectual property disputes, including a patent lawsuit from ToolGen. Any adverse legal ruling could force the company to pay damages or negotiate expensive licenses for its core technology.

Viking Therapeutics is heavily dependent on its license agreement with Ligand Pharmaceuticals, as losing this contract would effectively end its current development programs. There is also a significant clinical risk, as many drugs fail to meet their primary goals in late-stage trials before they ever reach the FDA. The company also relies on CordenPharma for its drug supply, and any disruptions there could delay its timeline to market. Finally, since it lacks revenue, future stock sales to raise cash could dilute the value of shares held by current investors.

Valuation comparison

Viking Therapeutics has no revenue in 2025 or projected for 2026, so it has no ratios to compare with CRISPR Therapeutics.

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Which stock would I buy in 2026?

Viking Therapeutics is conducting clinical studies of several treatments in its pipeline. The most promising is VK2735, a dual agonist of the glucagon-like peptide 1 GLP-1 receptor and the glucose-dependent insulinotropic polypeptide GIP receptor, which has demonstrated promising efficacy, safety, and tolerability across multiple clinical trials. There are two Phase III Trials which the company expects to read out by early 20207. Phase III is the final stage before approval (or not). The company is in a Phase II trial for a weight loss pill.

The company is examining developing an auto-injector for its GLP-1 drugs, which will spare consumers the need to inject themselves or remember to take a pill, something that could gain the product a foothold in long-term weight management. Viking management also sees a market for employer-sponsored GLP access, similar to how businesses pay for gym memberships outside of healthcare. Still, Wall Street does not anticipate Viking generating any revenue until 2028.

CRISPR Therapeutics is further along in its journey to bring its therapy, Casgevy, to market, having just launched it. It’s the first gene therapy product approved and for sale today, and is approved worldwide. It’s not cheap, priced at $2.2 million per patient per year in the U.S., which should lead to significant revenue, given the company has about 500 patients who have started or are about to start Casgevy. Long-term, there is a series of treatments for various ailments that promise to be novel and relatively cheaper ($10,000 to $20,000 per patient per year) to market. Overall, Wall Street sees the business making about $36 million in sales this year and rising quickly to more than $2 billion in 20-29. Long-term projections are inherently more speculative, but it’s a positive signal. The business is still expected to lose money n til; 2029, hwoever.

So, which pharma innovator to buy? GLP-1s and similar drugs are here to stay, with a massive market of people who will probably stay on the treatments for most of their lives. That’s a huge market, but Viking is playing in an already crowded field here, with Eli Lily & Co (NYSE:LLY) and Novo Nordisk (NYSE:NVO) already well established in the marketplace. CRISPR, meanwhile, is finally showing the promise of gene-editing therapies that have long captivated investors. The nod here goes to CRISPR, given that it has already reached the market, while Viking still faces regulatory risk.

Brendan Coffey has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends CRISPR Therapeutics, Eli Lilly, Novo Nordisk, and Vertex Pharmaceuticals. The Motley Fool recommends Viking Therapeutics. The Motley Fool has a disclosure policy.