Nektar Therapeutics Sells 4.06M Shares at $92 to Raise $373.8M
Nektar Therapeutics completed a $373.8 million underwritten public offering, selling 4,062,500 common shares including 529,891 shares from full exercise of underwriters’ option. Shares were priced at $92.00 each, boosting cash reserves to advance its Phase 2b trials of rezpegaldesleukin in atopic dermatitis and alopecia areata.
1. Public Offering Details
Nektar closed an underwritten offering of 4,062,500 common shares at $92.00 each, including the full exercise of a 529,891-share underwriters’ option, generating $373.8 million in gross proceeds before underwriting discounts, commissions and expenses. Joint bookrunning managers on the transaction included Jefferies, TD Cowen, Piper Sandler and Citigroup.
2. Funding Nektar's Clinical Programs
Net proceeds will support advancement of rezpegaldesleukin (NKTR-358) in ongoing Phase 2b trials for atopic dermatitis and alopecia areata as well as a Phase 2 study in type 1 diabetes. Remaining funds will bolster preclinical development of bivalent TNFR2 antibody programs (NKTR-0165, NKTR-0166) and a modified CSF protein candidate (NKTR-422).