Viking Therapeutics Stock Drops After Pricing $500M Dilutive Offering
1 report, 1 independent
Updated Sep 24
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What happened
Viking Therapeutics priced an upsized $500 million offering of common stock and convertible senior notes at a public offering price of $35.00 per share of common stock. Following the financing, Viking Therapeutics stock dropped 15% in morning trading. The company intends to use the net proceeds for continued clinical development of its drug candidates.
From aol.com
Why it matters
The offering raises significant capital for Viking Therapeutics to fund its ongoing clinical development efforts. The decline in the company's stock price reflects investor reaction to the dilution caused by the issuance of new common stock.
From aol.com
Who's involved
- Viking TherapeuticsCompany that priced the upsized $500 million offering of common stock