Viking Therapeutics Inc., a clinical-stage biopharmaceutical company, announced Friday that the underwriters for its recent initial public offering have exercised their option to purchase from Viking an additional 450,000 shares at the initial offering price to the public of $8 per share.
This brings Viking’s total to 3.45 million issued shares of its common stock in the offering, for aggregate gross proceeds of $27.6 million.
The La Jolla-based company is focused on the development of therapies for metabolic and endocrine disorders.
According to a news release, United Kingdom-based Laidlaw & Co. Ltd. acted as the sole book-running manager for the offering. Feltl and Co. Inc. served as co-manager for the offering.
Viking is trading on the Nasdaq for $8.11 per share under the stock symbol VKTX, and has a market cap of $74.7 million.