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SAN FRANCISCO - Nektar Therapeutics (NASDAQ:NKTR) announced Monday it has commenced an underwritten public offering of its common stock and pre-funded warrants to purchase common stock. The announcement comes as the company’s stock has shown remarkable momentum, posting a 170% return over the past week, according to InvestingPro data.
The clinical-stage biotechnology company, which focuses on developing immunotherapy medicines, plans to grant underwriters a 30-day option to purchase up to an additional 15% of shares at the public offering price, less underwriting discounts and commissions.
Nektar intends to use the net proceeds for general corporate purposes, including research and development, clinical development, and manufacturing costs to support its drug candidate pipeline.
Jefferies and Piper Sandler are serving as joint bookrunning managers for the offering, which is being made pursuant to a shelf registration statement filed with the SEC on March 28, 2025, and declared effective on April 1, 2025.
The company’s lead product candidate, rezpegaldesleukin, is currently being evaluated in two Phase 2b clinical trials for atopic dermatitis and alopecia areata. Nektar’s pipeline also includes several preclinical programs targeting various immunological conditions.
The offering is subject to market and other conditions, with no assurance regarding its completion, size, or terms, according to the company’s press release statement.
Nektar Therapeutics is headquartered in San Francisco and trades on the Nasdaq exchange. For investors seeking deeper insights, InvestingPro offers comprehensive analysis with over 15 additional ProTips and a detailed research report, helping you make more informed investment decisions.
In other recent news, Nektar Therapeutics announced that its experimental drug rezpegaldesleukin has shown promising results in a Phase 2b study for moderate-to-severe atopic dermatitis. The trial met its primary endpoint, with all dosing arms achieving statistical significance in the Eczema Area and Severity Score (EASI) compared to placebo. Key secondary endpoints, such as EASI-75 and EASI-50, were also met, demonstrating significant improvements in skin condition and itch relief. The company reported a consistent safety profile, with injection site reactions being the most common side effect. Nektar plans to continue the study with long-term data expected in early 2026 and additional data for alopecia areata anticipated in late 2025.
Furthermore, Nektar is set to present top-line data from the REZOLVE-AD trial in June 2025, with an investor call scheduled to discuss the findings. H.C. Wainwright has maintained its Buy rating for Nektar Therapeutics, with a price target of $6.50, highlighting the company’s progress in clinical trials. The firm expressed optimism about the potential of rezpegaldesleukin, citing strong scientific rationale and positive data from earlier studies. These developments mark significant milestones for Nektar, as it continues to advance its clinical pipeline.
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