Nektar Therapeutics Announces Pricing of Upsized $400 Million Public Offering

Core Viewpoint - Nektar Therapeutics has announced the pricing of an upsized public offering of $400 million, which includes common stock and pre-funded warrants, aimed at supporting its clinical development and general corporate purposes [1][2] Group 1: Offering Details - Nektar is offering 6,603,449 shares of common stock at a price of $58.00 per share and 293,103 pre-funded warrants at a price of $57.9999 each, leading to expected gross proceeds of approximately $400 million before expenses [1] - The underwriters have a 30-day option to purchase an additional 1,034,482 shares at the public offering price [1] - The offering is expected to close on February 13, 2026, subject to customary conditions [1] Group 2: Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes, including research and development, clinical development (notably Phase 3 trials for rezpegaldesleukin), and manufacturing costs [1] Group 3: Company Overview - Nektar Therapeutics is a clinical-stage biotechnology company focused on developing innovative treatments for autoimmune and chronic inflammatory diseases [1] - The lead product candidate, rezpegaldesleukin, is being evaluated in multiple clinical trials for conditions such as atopic dermatitis, alopecia areata, and Type 1 diabetes mellitus [1] - Nektar's pipeline includes additional candidates like NKTR-0165, NKTR-0166, and NKTR-422, as well as NKTR-255, which is designed to enhance the immune system's ability to combat cancer [1]