Retail Investors Now Expect Viking Therapeutics To Bag A Deal After Novo Nordisk, Pfizer Engage In A Bidding War For Rival Metsera

Viking and Metsera are both attempting to develop drugs for the treatment of obesity.

Retail investors on Stocktwits expect Pfizer to make an acquisition bid for Metsera’s rival, Viking Therapeutics, as the company’s agreed-upon deal with Metsera hangs in limbo.

Danish drugmaker Novo Nordisk (NVO) announced on Thursday that it has submitted an unsolicited proposal to acquire Metsera, Inc. (MTSR), following Pfizer's (PFE) agreement to acquire the smaller obesity biopharmaceutical company in September. Metsera has now given Pfizer four business days to negotiate potential adjustments to the existing transaction. The company also noted it would be entitled to terminate the Pfizer merger agreement if Novo’s proposal continues to constitute a superior proposal. 

“The best part would be if PFE lets NVO walk away with MTSR rather than up its own bid a few billion dollars, and instead makes a better offer to VKTX,” a Stocktwits user wrote.

Another sees Viking ending up with a good deal in time.

Shares of VKTX traded 10% higher at the time of writing. On Stocktwits, retail sentiment around VKTX stayed within the ‘bullish’ territory while message volume remained at ‘high’ levels.

Pfizer was previously developing its own oral weight-loss drug, Danuglipron, but discontinued its development in April 2025 due to liver enzyme elevations in patients. The company is now looking to enter the booming obesity market with an acquisition.

Viking’s Obesity Program

Viking, meanwhile, is evaluating both subcutaneous and oral formulations of its obesity program VK2735 in clinical trials. It is a dual agonist of the glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors. Activation of the glucagon-like peptide 1 (GLP-1) receptor has been shown to decrease glucose, reduce appetite, lower body weight, and improve insulin sensitivity in patients with type 2 diabetes, obesity, or both.

In early and mid-stage trials, subcutaneous VK2735 demonstrated an encouraging safety and tolerability profile as well as positive signs of clinical benefit.

VKTX stock is down 4% this year and approximately 46% over the past 12 months. 

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