Nektar Therapeutics Announces Pricing of $100 Million Public Offering
Nektar Therapeutics (Nasdaq: NKTR), a clinical-stage biotechnology company, has announced the pricing of its $100 million public offering of common stock. The company is offering 4,255,320 shares at a public price of $23.50 per share.
The offering includes a 30-day option for underwriters to purchase up to an additional 638,298 shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on July 2, 2025.
Nektar plans to use the net proceeds for general corporate purposes, including research and development, clinical development, and manufacturing costs to support its drug candidates. Jefferies and Piper Sandler are serving as joint bookrunning managers, with BTIG, LLC as passive bookrunner and H.C. Wainwright & Co. as co-manager for the offering.
Nektar Therapeutics (Nasdaq: NKTR), una societ脿 biotecnologica in fase clinica, ha annunciato il prezzo della sua offerta pubblica di azioni ordinarie da 100 milioni di dollari. La societ脿 offre 4.255.320 azioni a un prezzo pubblico di 23,50 dollari per azione.
L'offerta include un'opzione per i sottoscrittori di acquistare fino a un massimo di 638.298 azioni aggiuntive entro 30 giorni, al prezzo dell'offerta pubblica, al netto degli sconti e delle commissioni di sottoscrizione. La chiusura dell'offerta 猫 prevista per il 2 luglio 2025.
Nektar prevede di utilizzare i proventi netti per scopi aziendali generali, inclusi ricerca e sviluppo, sviluppo clinico e costi di produzione a supporto dei suoi candidati farmaceutici. Jefferies e Piper Sandler agiscono come joint bookrunning managers, con BTIG, LLC come bookrunner passivo e H.C. Wainwright & Co. come co-manager dell'offerta.
Nektar Therapeutics (Nasdaq: NKTR), una empresa biotecnol贸gica en etapa cl铆nica, ha anunciado el precio de su oferta p煤blica de acciones comunes por 100 millones de d贸lares. La empresa ofrece 4,255,320 acciones a un precio p煤blico de 23.50 d贸lares por acci贸n.
La oferta incluye una opci贸n para los suscriptores de comprar hasta 638,298 acciones adicionales durante 30 d铆as, al precio de la oferta p煤blica, menos descuentos y comisiones de suscripci贸n. Se espera que la oferta cierre el 2 de julio de 2025.
Nektar planea utilizar los ingresos netos para fines corporativos generales, incluyendo investigaci贸n y desarrollo, desarrollo cl铆nico y costos de fabricaci贸n para apoyar a sus candidatos a f谩rmacos. Jefferies y Piper Sandler act煤an como gestores principales conjuntos, con BTIG, LLC como gestor pasivo y H.C. Wainwright & Co. como co-gestor de la oferta.
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Nektar Therapeutics (Nasdaq : NKTR), une entreprise biotechnologique en phase clinique, a annonc茅 le prix de son offre publique de 100 millions de dollars d'actions ordinaires. La soci茅t茅 propose 4 255 320 actions au prix public de 23,50 dollars par action.
L'offre comprend une option de 30 jours permettant aux souscripteurs d'acheter jusqu'脿 638 298 actions suppl茅mentaires au prix de l'offre publique, d茅duction faite des remises et commissions de souscription. La cl么ture de l'offre est pr茅vue pour le 2 juillet 2025.
Nektar pr茅voit d'utiliser le produit net 脿 des fins g茅n茅rales d'entreprise, notamment la recherche et le d茅veloppement, le d茅veloppement clinique et les co没ts de fabrication pour soutenir ses candidats-m茅dicaments. Jefferies et Piper Sandler agissent en tant que gestionnaires principaux conjoints, BTIG, LLC en tant que teneur de livre passif et H.C. Wainwright & Co. en tant que co-gestionnaire de l'offre.
Nektar Therapeutics (Nasdaq: NKTR), ein biotechnologisches Unternehmen in der klinischen Phase, hat die Preisfestsetzung seiner 100 Millionen US-Dollar 枚ffentlichen Aktienemission bekanntgegeben. Das Unternehmen bietet 4.255.320 Aktien zu einem 枚ffentlichen Preis von 23,50 US-Dollar je Aktie an.
Das Angebot beinhaltet eine 30-t盲gige Option f眉r die Zeichner, bis zu 638.298 zus盲tzliche Aktien zum 枚ffentlichen Angebotspreis abz眉glich Zeichnungsrabatten und Provisionen zu erwerben. Der Abschluss der Emission wird f眉r den 2. Juli 2025 erwartet.
Nektar plant, die Nettoerl枚se f眉r allgemeine Unternehmenszwecke zu verwenden, einschlie脽lich Forschung und Entwicklung, klinischer Entwicklung und Herstellungskosten zur Unterst眉tzung seiner Arzneimittelkandidaten. Jefferies und Piper Sandler fungieren als gemeinsame Bookrunning-Manager, BTIG, LLC als passiver Bookrunner und H.C. Wainwright & Co. als Co-Manager der Emission.
- Expected gross proceeds of $100 million to support drug development pipeline
- Strong underwriting support from major financial institutions
- Potential for additional capital through 30-day underwriter option
- Significant dilution for existing shareholders through issuance of 4.25 million new shares
- Additional potential dilution if underwriters exercise their option for 638,298 shares
Insights
Nektar's $100M offering at $23.50/share strengthens its balance sheet for clinical development but dilutes existing shareholders by ~4.3%.
Nektar Therapeutics has priced its
The transaction structure includes an additional 30-day option for underwriters to purchase up to 638,298 more shares, potentially increasing the total raise. The offering is expected to close on July 2, 2025, led by Jefferies and Piper Sandler as joint bookrunners.
From a financial perspective, this capital injection strengthens Nektar's balance sheet, providing funding for its research and development pipeline. The company has explicitly stated that proceeds will support research, clinical development, and manufacturing costs for its drug candidates. For a clinical-stage biotech without significant revenue streams, this funding is crucial for advancing its pipeline toward potential commercialization.
However, this offering does come with dilution for existing shareholders. With 4.26 million new shares being issued, current investors will see their ownership percentage decrease. This dilution effect is a common trade-off in biotech financing 鈥� exchanging equity for the capital needed to reach value-creating clinical milestones.
The
Nektar intends to use the net proceeds from the offering for general corporate purposes, which may include research and development, clinical development and manufacturing costs to support the advancement of its drug candidates, as well as other general corporate purposes.
Jefferies and Piper Sandler are acting as joint bookrunning managers for the offering. BTIG, LLC is acting as passive bookrunner for the offering. H.C. Wainwright & Co. is acting as co-manager for the offering.
The securities described above are being offered pursuant to a shelf registration statement on Form S-3 (No. 333-286222) that was filed with the
A final prospectus supplement related to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website located at . Copies of the final prospectus supplement and an accompanying prospectus related to the offering may also be obtained, when available, from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue,
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.
About Nektar Therapeutics
Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. Nektar's lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel, first-in-class regulatory T cell stimulator being evaluated in two Phase 2b clinical trials, one in atopic dermatitis and one in alopecia areata. Nektar's pipeline also includes a preclinical bivalent tumor necrosis factor receptor type II (TNFR2) antibody and bispecific programs, NKTR-0165 and NKTR-0166, and a modified hematopoietic colony stimulating factor (CSF) protein, NKTR-422. Nektar, together with various partners, is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system's natural ability to fight cancer, in several ongoing clinical trials. Nektar is headquartered in
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as: "will," "expect," "develop," "potential," "plan," and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding expected gross proceeds from the offering,听the anticipated use of proceeds from the offering and听completion and timing of the public offering. Nektar intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section听21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995.听Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on Nektar's current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the control of Nektar. The actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the actual results to differ materially from those indicated in the forward-looking statements include, among others, the risks and uncertainties set forth in Nektar's Quarterly Report on Form 10-Q filed with the听Securities and Exchange Commission听on听May 9, 2025 as well as the risks identified in the registration statement and the preliminary prospectus supplement relating to the offering. Any forward-looking statement made by Nektar in this press release is based only on information currently available to Nektar and speaks only as of the date on which it is made. Nektar undertakes no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
For Investors:
Corey Davis,听Ph.D.
LifeSci Advisors
212-915-2577
[email protected]听
For Media:
Madelin Hawtin
LifeSci听Communications
603-714-2638
[email protected]
听
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