Nektar announces $300M common stock offering

Nektar (NKTR) Therapeutics announced that it has commenced an underwritten public offering of $300M of its shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock. All of the shares of common stock and pre-funded warrants to be sold in this offering are being offered by Nektar. Nektar intends to use the net proceeds from the offering for general corporate purposes, which may include research and development, clinical development – including Phase 3 trials for rezpegaldesleukin – and manufacturing costs to support the advancement of its drug candidates, as well as other general corporate purposes. Jefferies, TD Cowen, and Piper Sandler are acting as joint bookrunning managers for the offering.