05:39 PM EST, 03/04/2024 (MT Newswires) -- Viking Therapeutics ( VKTX ) said Monday it has closed its underwritten public offering of roughly 7.4 million of its common shares at $85 apiece for gross proceeds of about $632.5 million.

The share sale included the full exercise by the underwriters of their option to buy up to an additional 970,650 shares, it said.

The biopharmaceutical company focused on developing therapies for metabolic and endocrine disorders said it plans to use the proceeds for the ongoing VK2809, VK2735, and VK0214 clinical programs, general research and development, working capital, and general corporate purposes.

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