After rising by 137% in one day upon the publication of favorable phase 2 clinical trial results on Feb. 27, Viking Therapeutics (NASDAQ: VKTX) is now doubtlessly on many investors' radars. Soon enough, the biotech will likely try to launch a new weight loss medication capable of rivaling Novo Nordisk's (NYSE: NVO) blockbuster obesity drug, Wegovy. That means people who feel that they learned about Novo Nordisk's rapidly growing obesity care segment too late to see any upside from an investment now have another juicy chance to gain exposure to that exciting and increasingly competitive market.

But, as with all pre-revenue biotech stocks, Viking is a somewhat risky play. At the same time, assumptions about having missed out on Novo Nordisk may be off-base. So let's put the competition between these two businesses (and one of their peers) into context by analyzing the situation a bit more closely.

Viking Therapeutics doesn't yet have any products on the market, but it does have a valuable asset that's driving investors to bid up its stock price.

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Source Fool.com