Viking Therapeutics (NASDAQ: VKTX) has been flying on all cylinders since the beginning of the year. The company's shares are up 246% due to excellent clinical progress. It's not rare for smaller biotechs to see their stock prices skyrocket relatively quickly, but many eventually give up most, if not all, of their gains. Could Viking Therapeutics be different?

There's an argument to be made that the drugmaker could deliver market-crushing returns in the next decade. Let's see whether Viking Therapeutics can pull it off.

Let's review what sent Viking Therapeutics' shares soaring earlier this year. The company reported positive results from a phase 2 clinical trial for VK2735, a potential anti-obesity medicine. VK2735 belongs to the same class of medications as Zepbound, the weight-loss drug marketed by Eli Lilly that's projected to lead the pack for years to come. Viking Therapeutics still has a lot of work to do before launching its Zepbound competitor on the market.

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Source Fool.com