Nektar Therapeutics Upsized $400M Public Offering

Nektar Therapeutics, a clinical-stage biotechnology company, announced the pricing of an upsized $400 million public offering. The offering includes 6,603,449 shares of common stock at $58.00 per share and 293,103 pre-funded warrants at $57.9999 per warrant. The offering is expected to close on February 13, 2026. Nektar Therapeutics plans to use the net proceeds for general corporate purposes, including research and development, clinical development (such as Phase 3 trials for rezpegaldesleukin), and manufacturing costs. Jefferies, Toronto-Dominion Bank===TD Cowen, and Piper Sandler Companies are serving as joint bookrunning managers, with Oppenheimer Holdings===Oppenheimer Holdings, H.C. Wainwright & Co., and B. Riley Financial===B. Riley Securities acting as lead managers and manager, respectively. The securities are being offered under a shelf registration statement filed with the United States===United States Securities and Exchange Commission.