Here's Why Viking Therapeutics Shares Slumped Today

Viking Therapeutics stock declined 14.5% following the announcement of a capital raise ($275 million in common stock and $225 million in convertible notes), not due to negative trial results. The company's maintenance study for its weight-loss drug VK2735 showed positive results, prompting management to upsize the offering from initial plans. The stock correction reflects profit-taking after trading above $41 prior to the $35 offering price announcement.