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Viking Therapeutics closes common stock offering

Viking Therapeutics Inc. closed its public offering of 5.9 million common shares priced at $2.50 apiece for gross proceeds of about $14.8 million.

The underwriters fully exercised their overallotment option to buy 769,565 additional shares.

Viking Therapeutics plans to use net proceeds for the development of its product pipeline, general research and development, working capital as well as general corporate purposes.

William Blair & Co. LLC acted as sole book-running manager for the offering, with Maxim Group LLC and Roth Capital Partners acting as co-managers.