Nektar starts $250 mln stock offering after alopecia treatment trial

Toronto-Dominion Bank

20/04/2026 22:01

** Nektar Therapeutics NKTR.O plans to raise equity after promising alopecia data

** NKTR shares finished up 18.3% at $100.35 on Mon after co's under-the-skin injection, called rezpegaldesleukin, showed signs of hair regrowth in an extension study from a mid-stage trial

** After the bell, commences $250 mln offering comprising stock and pre-funded warrants

** It intends to use net proceeds for general purposes, including R&D, 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

** Jefferies, TD Cowen and Piper Sandler joint bookrunners for offering

** San Francisco-based NKTR has ~28.7 mln shares outstanding for ~$2.9 bln current market cap

** Through Mon, NKTR shares up 137% YTD. They were last up 1.6% to $102 in after hours trading

** 9 of 10 analysts rate stock "strong buy" or "buy", 1 "hold"; median PT $131.50, per LSEG data

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

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