BUZZ - Viking Therapeutics shares fall due to $275 million stock and $225 million convertible bond financing
路透社2026/09/24 10:51September 24 - ** Viking Therapeutics (VKTX.O) shares fell 9.6% to $37.65 before the opening on Thursday, after the company completed a fundraising round.
** VKTX (link) sold approximately 7.9 million shares at $35 per share, raising a total of $275 million; the offering price represents a 16% discount to the previous closing price.
** The company also announced the issuance of $225 million convertible bonds (CBs) with a coupon rate of 2%, maturing on October 15, 2032; the conversion price is set at $50.75, which is 45% higher than the current offering price of $35 per share.
** The San Diego, California-based firm had planned on Wednesday evening to raise $400 million (link), split equally between stock and convertible bonds.
** On Tuesday, VKTX shares surged about 36% to $40.85 after the company reported that its weight-loss drug VK2735 (link) exhibited sustained weight reduction in patients, outperforming the placebo group.
** The company plans to use the net proceeds from the offering for the clinical development, advancement, and commercialization of the VK2735 program, as well as progress on the VK3019 project and other purposes.
** Morgan Stanley, JPMorgan, and other institutions are acting as joint bookrunners for these two offerings.
** VKTX currently has approximately 116.65 million shares outstanding, with a market capitalization of about $4.9 billion.
** According to data from the London Stock Exchange Group (LSEG), 20 analysts covering the stock on average rate it as "Buy," with a median target price of $100.
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