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 the pricing of its underwritten public offering of 17,242,000 shares of its common stock at a price to the public of $14.50 per share. Gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $250.0 million. In addition, Viking has granted the underwriters a 30-day option to purchase up to 2,586,300 additional shares of its common stock on the same terms and conditions. The offering is expected to close on or about April 3, 2023, subject to the satisfaction of customary closing conditions.
Viking currently intends to use the net proceeds from the offering for continued development of its VK2809, VK2735 and VK0214 programs and for general research and development, working capital and general corporate purposes.
