Viking Therapeutics shares fell 14.5% in early trading after the company expanded its offering to about $275 million in stock at $35 a share and $225 million in convertible notes. Shares had traded above $41 before the offer; the drop was not directly tied to recent VK2735 data.
Management said the proceeds would fund Viking’s development pipeline, including Phase 3 trials of VK2735.
The company reported positive results from the first part of VK2735’s maintenance study, which tested an injectable regimen: an initial 21-week dose followed by 12 weeks across a range of maintenance doses. A second part will test oral maintenance dosing, a key element of the company’s dual-formulation strategy.
