SAN DIEGO, Feb. 1, 2018 /PRNewswire/ -- Viking Therapeutics,
Inc. ("Viking") (NASDAQ: VKTX), a clinical-stage biopharmaceutical
company focused on the development of novel therapies for metabolic
and endocrine disorders, today announced that it intends to offer
and sell, subject to market and other conditions, shares of its
common stock in an underwritten public offering. Viking also
expects to grant to the underwriters of the offering a 30-day
option to purchase up to an additional 15% of the shares of common
stock offered in the public offering on the same terms and
conditions. All of the shares to be sold in the offering are to be
sold by Viking. 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.
William Blair & Company,
L.L.C. will be acting as sole book-running manager for the
offering. The offering is subject to market conditions, and there
can be no assurance as to whether or when the offering will be
completed, or as to the actual size or terms of the offering.
The public offering will be made pursuant to a shelf
registration statement on Form S-3 (File No. 333-212134),
previously filed with the Securities and Exchange Commission (the
"SEC") on June 20, 2016, as amended
by Amendment No. 1 thereto, previously filed with the SEC on
July 26, 2016, and declared effective
on July 26, 2016. The securities may
be offered only by means of a prospectus. A preliminary prospectus
supplement and the accompanying prospectus relating to and
describing the terms of the offering will be filed with the SEC and
will be available on the SEC's website at www.sec.gov. When
available, copies of the preliminary prospectus supplement and the
accompanying prospectus may also be obtained by contacting
William Blair & Company, L.L.C.
at 150 North Riverside Plaza, Chicago,
Illinois 60606, Attention: Prospectus Department, by
telephone at (800) 621-0687, or by email at
prospectus@williamblair.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
About Viking Therapeutics, Inc.
Viking Therapeutics,
Inc. is a clinical-stage biopharmaceutical company focused on the
development of novel, first-in-class or best-in-class therapies for
metabolic and endocrine disorders. The company's research and
development activities leverage its expertise in metabolism to
develop innovative therapeutics designed to improve patients'
lives. Viking has exclusive worldwide rights to a portfolio
of five therapeutic programs in clinical trials or preclinical
studies, which are based on small molecules licensed from Ligand
Pharmaceuticals Incorporated. The company's clinical programs
include VK5211, for which positive Phase 2 results were recently
announced, an orally available, non-steroidal selective androgen
receptor modulator, or SARM, in development for the treatment and
prevention of lean body mass loss in patients who have undergone
hip fracture surgery, VK2809, a small molecule thyroid beta agonist
in Phase 2 development for hypercholesterolemia and non-alcoholic
fatty liver disease, and VK0612, a first-in-class, orally available
drug candidate in Phase 2 development for type 2 diabetes.
Viking is also developing novel and selective agonists of the
thyroid beta receptor for GSD Ia and X-linked adrenoleukodystrophy,
as well as two earlier-stage programs targeting metabolic diseases
and anemia.
Forward-Looking Statements
Viking cautions you that
statements included in this press release that are not a
description of historical facts are forward-looking statements.
Words such as "expect," "anticipate," "intend," "plan," "believe,"
"seek," "estimate," "think," "may," "could," "will," "would,"
"should," "continue," "potential," "likely," "opportunity" and
similar expressions or variations of such words are intended to
identify forward-looking statements, but are not the exclusive
means of identifying forward-looking statements. These statements
are based on Viking's current beliefs and expectations. These
forward-looking statements include statements regarding Viking's
expectations on the timing, size and completion of the offering and
the anticipated use of proceeds therefrom. The inclusion of
forward-looking statements should not be regarded as a
representation by Viking that any of its plans will be achieved.
Actual results may differ from those set forth in this press
release due to the risks and uncertainties associated with market
conditions and the satisfaction of customary closing conditions
related to the proposed public offering and other risks and
uncertainties inherent in Viking's business, including those
described in Viking's periodic filings with the SEC and the
preliminary prospectus supplement and related prospectus for this
offering filed with the SEC on or about the date hereof. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. There may
be events in the future that Viking is unable to predict, or over
which it has no control, and Viking's business, financial
condition, results of operations and prospects may change in the
future. Viking assumes no responsibility to update or revise any
forward-looking statements to reflect events, trends or
circumstances after the date they are made, except as required by
applicable law. All forward-looking statements are qualified
in their entirety by this cautionary statement. This cautionary
statement is made under the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995.
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SOURCE Viking Therapeutics, Inc.