Nektar Therapeutics Prices Public Offering Of $100 Mln Of Shares

(RTTNews) - Nektar Therapeutics (NKTR), a developer of immunotherapy medicines, said on Tuesday that it has priced its underwritten public offering of 4.255 million shares at $23.50 per share for gross proceeds of around $100 million.

The drug maker has also granted the underwriters a 30-day option to purchase up to an additional 638,298 shares. The offering is expected to be closed on July 2.

The company intends to use the net proceeds from the offering for research and development, clinical development, and manufacturing costs to support the advancement of its drug candidates, as well as general corporate purposes.