Viking Therapeutics Launches $400M Dual Offering to Fund Obesity Drug Pipeline
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San Diego – September 24, 2026 -- Viking Therapeutics plans to raise $400 million through simultaneous public offerings of $200 million in common stock and $200 million in convertible senior notes due 2032, with proceeds earmarked for its obesity drug pipeline.
Viking structures two independent capital raises with built-in flexibility
The biopharmaceutical company intends to grant underwriters a 30-day option to purchase an additional $30 million in common stock and a separate 30-day option for up to $30 million more in notes to cover over-allotments. Completion of one offering is not contingent on the other, giving Viking flexibility if market conditions shift. Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are serving as joint book-running managers for both transactions.