Business
Viking Therapeutics Announces Closing of Public Offering of Common Stock Including Full Exercise of Underwriters' Option to Purchase Additional Shares
SAN DIEGO, March 4, 2024 /PRNewswire/ -- Viking Therapeutics, Inc. ("Viking") (Nasdaq: VKTX), a clinical-stage biopharmaceutical company focused on the
About this update from Viking Therapeutics, Inc.
[{"type":"text","content":"SAN DIEGO, March 4, 2024 /PRNewswire/ -- 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 closing of its previously announced underwritten public offering of 7,441,650 shares of its common stock at a price to the public of $85.00 per share, which included the exercise in full by the underwriters of their option to purchase up to 970,650 additional shares of common stock. The gross proceeds to Viking from this offering were approximately $632.5 million, before deducting underwriting discounts and commissions and offering expenses.\n\n \n \n \n \n \n \n\n \nMorgan Stanley, Leerink Partners, William Blair, Raymond James, Stifel and Truist Securities acted as joint book-running managers for the offering. Oppenheimer & Co. acted as lead manager for the offering. BTIG, H.C. Wainwright & Co., Maxim Group LLC and Laidlaw & Company (U.K.) Ltd. acted as co-managers for the offering. \nViking 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.\nThe securities described above were offered by Viking pursuant to an automatic shelf registration statement on Form S-3 (File No. 333-273460), previously filed with the Securities and Exchange Commission (the \"SEC\") on July 26, 2023, and which automatically became effective upon filing. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering was filed with the SEC on March 1, 2024 and is available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at [email protected]; or Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]. \nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be...