The Lead Manager on Viking Therapeutics' Follow-On Offering

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 the closing of its previously announced underwritten public offering of 7,441,650 shares of its common stock at a price to the public of $85.00 per share, which included the exercise in full by the underwriters of their option to purchase up to 970,650 additional shares of common stock. The gross proceeds to Viking from this offering were approximately $632.5 million, before deducting underwriting discounts and commissions and offering expenses.

Viking recently announced positive top-line results from their Phase 2 VENTURE trial of the dual glucagon-like peptide 1 (GLP-1) / glucose-dependent insulinotropic (GIP) receptor agonist VK2735 in patients with obesity. The Company’s pipeline also includes an oral formulation of VK2735 which is in a Phase 1 trial, and VK2809, an orally available, small molecule selective thyroid hormone receptor beta agonist for the treatment of lipid and metabolic disorders, which is currently being evaluated in a Phase 2b trial for the treatment of biopsy-confirmed non-alcoholic steatohepatitis (NASH) and fibrosis. Additionally, the Company is developing VK0214, an orally available, small molecule selective thyroid hormone receptor beta agonist, which is currently being evaluated in a Phase 1b trial for the potential treatment of X-linked adrenoleukodystrophy (X-ALD).