Type of information: Private placement
Company: Viking Therapeutics (USA - PA)
Amount: $55 million
Funding type: private placement
- Viking currently intends to use the net proceeds from the offering for continued development of its VK5211, VK2809 and VK0214 programs and for general research and development, working capital and general corporate purposes.
- VK5211 is a novel, orally available, non-steroidal selective androgen receptor modulator (SARM), in Phase 2 development for the treatment of patients recovering from non-elective hip fracture surgery. VK5211 belongs to a family of novel non-steroidal SARM compounds based on tissue-specific gene expression and other functional, cell-based technologies. In Phase 1 clinical trials, VK5211 demonstrated statistically significant increases in lean body mass among treated subjects following 21 days of treatment.
- VK2809 and VK0214, are novel, orally available, selective thyroid hormone receptor beta (TR?) agonists for lipid disorders.
- • On February 2, 2018,Viking Therapeutics announced the pricing of its public offering of 11,000,000 shares of its common stock at a price to the public of $5.00 per share. Gross proceeds, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $55.0 million. In addition, Viking has granted the underwriters a 30-day option to purchase up to 1,650,000 additional shares of its common stock. The offering is expected to close on or about February 6, 2018, subject to satisfaction of customary closing conditions.
- William Blair & Company is acting as sole book-running manager for the offering and Maxim Group and Roth Capital Partners are acting as co-managers for the offering.. Wainwright & Co. is acting as a financial advisor for the offering.
Therapeutic area: Endocrinological diseases - Metabolic diseases