Nektar Therapeutics edges lower after $100 mln stock sale

Nektar Therapeutics

01/07/2025 12:54

** Shares of Nektar Therapeutics NKTR.O down 0.4% premarket to $25.74 after follow-on prices

    ** San Francisco-based firm announces ~4.3 mln shares at $23.50 for $100 mln gross proceeds

    ** Offering price represents 9.1% discount to stock's last close

    ** Co intends to use net offering proceeds for R&D, clinical development and manufacturing costs to support advancement of its drug candidates, along with other general purposes

** Jefferies and Piper Sandler are jt bookrunners for offering, joined by BTIG

    ** Last Tues, NKTR shares soared 156% to close at $24.45 after co's eczema drug met main goal in mid-stage study

    ** Shares have gained 171% over the past week, putting them up 85% YTD through Mon close

    ** With ~12.4 mln shares outstanding, co has about $320 mln market cap

    **
    Earlier this month, co effected 1-for-15 reverse stock split

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))