1 Bold Prediction for Viking Therapeutics in 2026
Key Points
Takeover activity has been high lately in the intensely competitive anti-obesity drug space.
Viking's pipeline may contain plenty of hidden value that a larger company might release.
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Upstart biotech company Viking Therapeutics (NASDAQ: VKTX) is a potential takeover candidate in 2026. That's not a reason to buy the stock in itself, but does highlight the potential value in its product pipeline. Here's why major drugmakers might now be drawn to buying this relatively small player in the pharmaceutical industry.
Takeover activity is high in the industry
The recent bidding war between Pfizer and Novo Nordisk over Metsera (won by Pfizer) highlights the attraction of buying smaller companies with pipelines that have obesity treatments. Given that Viking has a dual GLP-1/GIP agonist, VK2735, in late-stage trials in both oral and subcutaneous (under-the-skin) forms, it's potentially a prime target.
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Viking's pipeline might be more attractive than the market thinks
Investors were shocked in August when Viking's Venture phase 2 results for VK2735, an oral anti-obesity candidate, revealed a relatively high discontinuation rate of 20% due to adverse events (usually gastrointestinal) in the treatment group. It was disappointing, but there was no issue with efficacy, as evidenced by a 12.2% weight loss after just 13 weeks in the treatment group.
Additionally, the cohort may have had some relatively unfavorable characteristics, as 13% of the placebo group also dropped out due to an adverse event. That's a higher rate than the discontinuation rate due to adverse events of 10.3% for Eli Lilly's (NYSE: LLY) oral GLP-1 drug, orforglipron, in its phase 3 Attain-1 trial in treating obesity. Furthermore, Lilly's phase 3 Attain-1 trial lasted 72 weeks, whereas Viking's phase 2 Venture trial lasted 13 weeks.
Image source: Getty Images.
It's easy to conclude that oral VK2735 has safety issues, but a larger company might not share the same view. The Venture trial was relatively short, and the titration rate may have been too aggressive for patients to adjust. Furthermore, the phase 1 safety data for oral VK2735 in treating obesity were exemplary.
Finally, Viking has already initiated a trial using oral VK2735 as a maintenance dose in combination with subcutaneous VK2735. Clinical trials are complex, generating vast amounts of data, and larger companies are often better equipped to manage them. Don't be surprised if a larger rival takes a look at acquiring Viking Therapeutics in 2026.
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Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pfizer. The Motley Fool recommends Novo Nordisk and Viking Therapeutics. The Motley Fool has a disclosure policy.
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