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It's "hip" to be repaired: Viking Therapeutics refiles terms for $20 million IPO

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Viking Therapeutics, which is developing drugs to speed hip fracture recovery and treat various metabolic disorders, announced terms for its IPO on Friday.

The San Diego, CA-based company plans to raise $20 million by offering 2.5 million shares at a price range of $7 to $9. At the midpoint of the proposed range, Viking Therapeutics would command a market value of $69 million.

Viking Therapeutics previously set terms to raise $55 million in September 2014 by offering 5 million shares at a price range of $10 to $12, targeting a market value of $168 million. Aside from slashing its valuation, Viking has refocused its drug development strategy and replaced its lead underwriter.

Viking Therapeutics, which was founded in 2012, plans to list on the NASDAQ under the symbol VKTX. Laidlaw & Company (UK) is the sole bookrunner on the deal (previously Roth Capital), and Feltl and Company is a co-manager. The company has not set an IPO date.

The article It's "hip" to be repaired: Viking Therapeutics refiles terms for $20 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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