The company issued 9,035,714 shares of common stock at $35.00 per share alongside $258.75 million in 2.00% convertible senior notes due in 2032. After accounting for underwriting commissions and administrative expenses, Viking projects net proceeds of approximately $547.8 million. The offering was managed by a consortium of financial institutions, including Morgan Stanley, J.P. Morgan, Jefferies, Leerink Partners, and William Blair.
In section Releases
Viking Therapeutics Secures $575 Million to Advance Obesity Pipeline
With $575 million in gross proceeds, San Diego-based Viking Therapeutics has finalized its upsized public offerings of common stock and convertible notes. The capital influx follows a full exercise of underwriters' options, providing a significant financial runway for the firm’s lead metabolic drug candidates and ongoing clinical research.
Management plans to allocate the capital primarily toward the development and commercialization of VK2735, a dual GLP-1 and GIP receptor agonist currently undergoing Phase 3 trials for obesity. Funds are also earmarked for the advancement of the VK3019 amylin receptor agonist program, as well as general corporate operations and research initiatives. The move strengthens the firm’s balance sheet as it seeks to solidify its position in the competitive market for metabolic and endocrine disorder treatments.
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