Viking Therapeutics Closes Offerings, Raises Over $575 Million
Viking Therapeutics, Inc. announced the closing of its concurrent offerings of common stock and convertible senior notes, raising approximately $575 million in gross proceeds. The company plans to use the funds for program development.
San Diego, CA – September 28, 2026 – Viking Therapeutics, Inc. (Nasdaq: VKTX), a clinical-stage biopharmaceutical company, announced today the closing of its concurrent and upsized public offerings of common stock and convertible senior notes. The company raised approximately $575 million in gross proceeds before deducting underwriting discounts and commissions and offering expenses.
The offerings included 9,035,714 shares of common stock at a public offering price of $35.00 per share and $258.75 million aggregate principal amount of 2.00% convertible senior notes due 2032. Underwriters fully exercised their options to purchase additional shares and notes.
Viking estimates that the net proceeds from the offerings were approximately $547.8 million. The company intends to use these net proceeds for the continued clinical development and advancement of its VK2735 program, the advancement of its VK3019 program, and for other general research and development, working capital, and general corporate purposes.
Viking Therapeutics focuses on developing novel therapies for metabolic and endocrine disorders. Its lead program, VK2735, is a dual GLP-1 and GIP receptor agonist in development for obesity, available in subcutaneous and oral formulations. The company is advancing VK2735 into Phase 3 clinical studies for obesity.