Nektar Therapeutics enters $110 million equity distribution agreement

Nektar Therapeutics (NASDAQ: NKTR) has entered into an equity distribution agreement with Piper Sandler & Co. and BTIG, LLC to sell up to $110 million of common stock through at-the-market offerings.

Under the agreement, the sales agents will sell shares from time to time using commercially reasonable efforts consistent with normal trading practices. The sales agents are not required to sell any specific amount of securities.

The sales agents will receive compensation at a commission rate of 3.0% of aggregate gross sales. Nektar has agreed to provide indemnification to the sales agents for certain liabilities under federal securities laws.

Sales will be conducted as "at the market offerings" as defined under Rule 415 of the Securities Act of 1933. The company's common stock trades on the Nasdaq Capital Market under the symbol "NKTR."

According to the company's filing, the stock's last reported sale price was $57.97 per share on November 10, 2025. Nektar qualifies as a smaller reporting company under federal securities laws.

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