Viking Therapeutics slips on planned stock, convertible offerings

Viking Therapeutics

23/09/2026 22:01

** Shares of Viking Therapeutics VKTX.O down 8% at $38.32 post-market as co looks to raise capital
** VKTX announces public offerings of $200 mln in stock and $200 mln convertible bonds due Oct 15, 2032
** VKTX shares surged ~36% to $40.85 on Tues after co's obesity drug, VK2735, showed durable weight-loss benefit in patients in a study compared with those on placebo
** Co intends to use net proceeds from the offerings for clinical development, advancement and commercialization of its VK2735 program, and advancement of its VK3019 program, among other purposes
** Morgan Stanley and JP Morgan joint bookrunners for both offerings
** VKTX shares added another 2% to close at $41.65 on Weds
** San Diego, California-based firm has approx $4.9 bln market cap, based on ~116.65 mln shares outstanding
** Avg rating of 20 analysts is "buy"; median PT $100, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))