🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Viking Therapeutics sets $550 million stock offering price

EditorLina Guerrero
Published 02/28/2024, 09:01 PM
© Reuters.

SAN DIEGO - Viking Therapeutics, Inc. (NASDAQ: NASDAQ:VKTX), a biopharmaceutical company specializing in metabolic and endocrine disorders, has priced an underwritten public offering of 6,471,000 shares of common stock at $85.00 each. The transaction is expected to yield approximately $550 million before fees and expenses, with a closing date anticipated around March 4, 2024.

The company has also provided underwriters a 30-day option to acquire up to an additional 970,650 shares. Investment banks Morgan Stanley, Leerink Partners, and William Blair, among others, are managing the offering. Viking aims to allocate the net proceeds toward advancing its clinical programs, including VK2809, VK2735, and VK0214, as well as for broader research and development, working capital, and general corporate functions.

Viking's ongoing projects include VK2809, a treatment for lipid disorders currently in a Phase 2b trial for non-alcoholic steatohepatitis (NASH), and VK2735, in trials for metabolic disorders. Additionally, VK0214 is being tested for X-linked adrenoleukodystrophy (X-ALD).

The offering follows an automatic shelf registration statement filed with the SEC on July 26, 2023. Prospective investors can access the offering's prospectus and related documents through the SEC's website or directly from the managing banks.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.