VKTX

What they do

Pure-play biotech with VK2735 — a Phase 3 dual-agonist that showed up to 15% weight loss in Phase 2 . Without Lilly/Novo-level manufacturing, the only realistic path to scale is M&A. Every quarter without a deal makes the M&A thesis stretch further, but the asset remains real and clinically derisked. Volatile around any pharma earnings call where M&A could be hinted at.