Nektar raises $175.5M in follow-on

Nektar Therapeutics (NASDAQ:NKTR) raised $175.5 million through the sale of 13 million shares at $13.50 in a follow-on underwritten by JPMorgan, Piper Jaffray, William Blair, Brean Capital, BTIG, Janney Montgomery Scott, Ladenburg Thalmann and Roth Capital Partners.

The company proposed the offering after market hours on Monday, when it closed at $15.67. Nektar lost $1.59 (10%) to $14.08 Tuesday, then slipped $0.73 to $13.35 on Wednesday. ...