Nektar Therapeutics (NKTR), a clinical-stage biotechnology company, priced its upsized public offering of 3.53 million shares at $92 per share. The gross proceeds to Nektar from the offering are expected to be approximately $325 million.
The firm upsized the offering to $325 million from the earlier announced $250 million.
Nektar intends to use the net proceeds from the offering for general corporate purposes, including research and development, clinical development, including Phase 3 trials for Rezpegaldesleukin in atopic dermatitis and alopecia areata, and manufacturing costs to support the advancement of its drug candidates, as well as other general corporate purposes.
In addition, Nektar has granted the underwriters a 30-day option to purchase up to an additional 0.53 million shares.
The offering is expected to close on April 23, 2026, subject to customary conditions.
Jefferies, TD Cowen, and Piper Sandler are acting as joint bookrunning managers for the offering.
NKTR has traded between $7.99 and $109 over the last year. The stock closed Tuesday's trade at $98.16, down 2.18%.
In the pre-market, NKTR is up 1.18% at $99.32.
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