Viking Therapeutics (NASDAQ: VKTX) has emerged this year as a formidable contender in the increasingly popular anti-obesity market. While it doesn't have an approved drug fighting for market share just yet, investors are incredibly bullish on the prospects for VK2735, which has been demonstrating encouraging results in clinical trials.

That excitement, however, has pushed the stock up to all-time highs this year. And with Viking at a market capitalization now of more than $9 billion, investors are paying a hefty premium for a business that still isn't generating any revenue. Is it too late to invest in Viking Therapeutics stock, or could it still be a good buy today?

For healthcare companies without any revenue or strong financials to rely on, inevitably, much of the hype and excitement surrounding the stock is going to come down to how encouraging the company's pipeline is, or how strong the clinical trial numbers are.

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Source Fool.com