Viking Therapeutics Inc. priced an underwritten public offering of 7.5 million shares at $9 apiece to raise $67.5 million in gross proceeds.
The company also granted underwriters an option to buy up to an additional 1,125,000 shares in the offering.
The closing of the offering is expected June 11, subject to customary closing conditions.
Viking Therapeutics will use the net proceeds to further develop VK2809 for treating liver disorders; VK5211 to treat muscle and bone disorders; and VK0214 intended to treat X-linked adrenoleukodystrophy, a rare genetic disorder that affects the nervous system and the adrenal glands.
A portion of the proceeds is allocated for general research and development, working capital and general corporate purposes.
William Blair & Co. LLC is acting as sole book-running manager for the offering, with SunTrust Robinson Humphrey Inc. as lead manager. Maxim Group LLC and Roth Capital Partners are acting as co-managers in the offering. H.C. Wainwright & Co. and Laidlaw & Co. (UK) Ltd. are acting as financial advisers.
