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NetworkNewsBreaks – Viking Therapeutics, Inc. (NASDAQ: VKTX) Closes $63.3M Offering

Company: Viking Therapeutics, Inc. (VKTX)
Category: News

Clinical-stage biopharmaceutical company Viking Therapeutics, Inc. (NASDAQ: VKTX), focused on developing novel therapies for metabolic and endocrine disorders, has announced the closing of an underwritten public offering of 12,650,000 shares of its common stock priced at $5 per share. The offering includes the sale of an additional 1,650,000 shares of common stock pursuant to the full exercises of the over-allotment option granted to the underwriters. A press release regarding the offering states: “The shares were sold at a price of $5.00 per share, resulting in the gross proceeds to Viking Therapeutics of approximately $63.3 Million. Viking Therapeutics currently intends to use the proceeds from the offering for continued development of its VK5211, VK2809 and VK0214 programs and for general research and development, working capital and general corporate purposes.”

To view the full press release, visit http://nnw.fm/BI3gH

About Viking Therapeutics, Inc.

Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development of novel, first-in-class or best-in-class therapies for metabolic and endocrine disorders. The company’s research and development activities leverage its expertise in metabolism to develop innovative therapeutics designed to improve patients’ lives. Viking has exclusive worldwide rights to a portfolio of five therapeutic programs in clinical trials or preclinical studies, which are based on small molecules licensed from Ligand Pharmaceuticals Incorporated. The company’s clinical programs include VK5211, for which positive Phase 2 results were recently announced, an orally available, non-steroidal selective androgen receptor modulator, or SARM, in development for the treatment and prevention of lean body mass loss in patients who have undergone hip fracture surgery, VK2809, a small molecule thyroid beta agonist in Phase 2 development for hypercholesterolemia and non-alcoholic fatty liver disease, and VK0612, a first-in-class, orally available drug candidate in Phase 2 development for type 2 diabetes. Viking is also developing novel and selective agonists of the thyroid beta receptor for GSD Ia and X-linked adrenoleukodystrophy, as well as two earlier-stage programs targeting metabolic diseases and anemia.  For more information, please visit www.VikingTherapeutics.com

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