The Life Sciences team advised Nektar Therapeutics on its underwritten public offering of $460 million of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants. The shares of common stock were sold at a public offering price of $58.00 per share, and the pre-funded warrants to purchase shares of common stock were sold at a public offering price of $57.9999 per pre-funded warrant, which represents the per-share public offering price of each share of common stock less the $0.0001 per-share exercise price of each pre-funded warrant. The gross proceeds to Nektar from the offering were approximately $460 million before deducting underwriting discounts, commissions, and estimated offering expenses. All of the securities sold in this offering were offered by Nektar.
Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. Nektar's lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel, first-in-class regulatory T cell stimulator being evaluated in one Phase 2b clinical trial in atopic dermatitis, one Phase 2b clinical trial in alopecia areata, and one Phase 2 clinical trial in type 1 diabetes mellitus. Nektar's pipeline also includes a preclinical bivalent tumor necrosis factor receptor type II (TNFR2) antibody and bispecific programs, NKTR-0165 and NKTR-0166, and a modified hematopoietic colony-stimulating factor (CSF) protein, NKTR-422. Nektar, together with various partners, is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system's natural ability to fight cancer, in several ongoing clinical trials. Nektar is headquartered in San Francisco, California.
The Goodwin team was led by Justin Platt, Mitch Bloom, Sam Zucker, MacLane Taggart, Kristin Yeakel, Candace Hagey, with invaluable assistance from Elizabeth Mulkey, Julie Tibbets, and Maggie Wong.
For more information on the deal, please read the press release.