Viking Therapeutics (VKTX) Announces $350M Proposed Public Offering of Common Stock

February 27, 2024 4:20 PM EST

Viking Therapeutics, Inc. ("Viking") (Nasdaq: VKTX), a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders, today announced that it has commenced an underwritten public offering of $350.0 million of shares of its common stock. Viking also intends to grant the underwriters a 30-day option to purchase up to an additional $52.5 million of shares of its common stock. All of the shares of common stock to be sold in the proposed offering are to be sold by Viking. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.

Morgan Stanley, Leerink Partners, William Blair, Raymond James, Stifel and Truist Securities are acting as joint book-running managers for the proposed offering.

Viking currently intends to use the net proceeds from the proposed offering for continued development of its VK2809, VK2735 and VK0214 programs and for general research and development, working capital and general corporate purposes.

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