Viking Therapeutics Shares Face Sector-Wide Pressure

The market for GLP-1 and obesity treatments experienced a significant setback this week, with Viking Therapeutics caught in the broader downdraft. This movement was triggered by a sharp decline in Novo Nordisk's share price following a disappointing 2026 outlook. Investors are now scrutinizing whether Viking can decouple from the sector's momentum through progress in its own clinical trials.

The catalyst for the recent volatility was Novo Nordisk's release of a weaker-than-anticipated revenue forecast for 2026. Shares of the Danish pharmaceutical giant plummeted approximately 14%, pulling down several other biopharma stocks in the process. Viking Therapeutics, which had posted gains earlier in the week, reversed course as a result.

A crucial distinction exists between the two companies. Novo Nordisk is grappling with commercial challenges, including supply logistics and sales growth for its already-marketed products. In contrast, Viking remains a clinical-stage biotech firm. For its equity valuation, near-term revenue is less critical than concrete milestones and reliable timelines for key clinical data readouts.

Key Catalysts on Viking's Horizon

Attention now turns to the company's forthcoming updates. Data providers indicate that Viking is scheduled to report its fourth-quarter and full-year 2025 results in early February, within a window spanning from now until February 13.

Should investors sell immediately? Or is it worth buying Viking Therapeutics?

The financial figures themselves, typical for a company at this development stage, will likely show losses. The more consequential element will be management commentary. The primary focus areas for analysts and investors include:

• VK2735 Injectable Program: Updates on the Phase 3 VANQUISH program. Patient recruitment for the VANQUISH-1 trial concluded in November 2025. Specific timelines for the expected "top-line" data release are now a paramount concern and a potential major driver for the stock in 2026.
• Oral Formulation Strategy: Further details on the development path for the oral version of VK2735 following Phase 2 data in late 2025. Insights on tolerability and dose optimization will be closely watched.
• Pipeline Developments: Potential news on earlier-stage projects, including an amylin agonist program viewed as a possible differentiator against established market leaders.

Navigating a High-Stakes Competitive Landscape

Market commentary suggests Viking's stock is currently in a consolidation phase, having retreated from its 2024 highs. Its valuation remains tightly linked to the competitive dynamics of the obesity drug market, which researchers estimate could surpass $100 billion in value over the next decade.

The recent price swings underscore the elevated expectations in this sector. While Eli Lilly and Novo Nordisk dominate the commercial landscape, challengers like Viking must use clinical data to demonstrate "best-in-class" potential. This proof is essential to justify their market valuations and attract potential partnership deals.

The official quarterly report and any accompanying conference call in the coming days will therefore be critical. These communications are expected to provide the clearest indication of the actual VANQUISH program timelines Viking is targeting for 2026.