Viking Therapeutics raises $575M through stock and note offerings

Viking Therapeutics, Inc. (Nasdaq: VKTX) closed concurrent public offerings of common stock and convertible senior notes, raising approximately $575.0 million in gross proceeds, according to a press release dated Sept. 28, 2026.

The company sold 9,035,714 shares of common stock at $35.00 per share and $258.75 million in aggregate principal amount of 2.00% convertible senior notes due 2032. The totals included the full exercise by underwriters of options to purchase an additional 1,178,571 shares of common stock and an additional $33.75 million in notes.

After deducting underwriting discounts, commissions, and estimated offering expenses, Viking estimates net proceeds of approximately $547.8 million.

The company said it intends to use the net proceeds for continued clinical development of its VK2735 program, its VK3019 program, and for general research and development, working capital, and corporate purposes.

Morgan Stanley, J.P. Morgan, Jefferies, Leerink Partners, and William Blair acted as joint book-running managers for the note offering. The same firms, along with Raymond James, served as joint book-running managers for the common stock offering.

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