Ligand acquired a 37% share in the biopharmaceutical company, which is set to float on Nasdaq, issuing three million shares priced at $8.00 each.
Viking Therapeutics, a US-based biopharmaceutical company backed by pharmaceutical company Ligand Pharmaceuticals, raised $24m yesterday when it priced its initial public offering at $8 per share.
The company will issue three million shares at the middle of its $7-$9 range on Nasdaq later today.
Viking is developing therapies for metabolic and endocrine disorders. It licensed five drug candidates from Ligand in May 2014 including treatments for diabetes, muscle wasting, anaemia and two therapies for dyslipidemia, a disorder involving an abnormal…
