Nektar Therapeutics announced the commencement of an underwritten public offering of $300 million of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock. All shares and pre-funded warrants in the offering are being offered by Nektar. The company also intends to grant underwriters a 30-day option to purchase up to an additional $45 million of shares. Net proceeds from the offering will be used for general corporate purposes, including research and clinical development.

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