Nektar Therapeutics launches $300 mln equity offering after stock soars

Toronto-Dominion Bank

10/02/2026 21:37

** Nektar Therapeutics NKTR.O looks to capitalize on its soaring stock price by raising equity

    ** NKTR shares surged 51.1% to close at $56 on Tues after co said its eczema drug, rezpegaldesleukin, shows year-long benefit

    ** After the bell, co commences $300 mln offering consisting of stock and pre-funded warrants

    ** It intends to use net offering proceeds for general corp purposes, including R&D, clinical development (including Phase 3 trials for rezpegaldesleukin), to support advancement of its drug candidates, among other purposes

** Jefferies, TD Cowen and Piper Sandler joint bookrunners

    **
    San Francisco-based NKTR has
    ~20.3 mln shares outstanding for ~$1.1 bln current market cap through Tues

    ** Shares up 3.1% at $57.71 in extended trading.
    A year ago, they closed at $10.50

    ** 7 of 8 analysts rate stock "strong buy" or "buy", 1 "hold"; median PT $115, per LSEG data

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

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