SOUTH SAN FRANCISCO – Nkarta, Inc. (NASDAQ:NKTX), a biopharmaceutical company focused on the development of engineered natural killer (NK) cell therapies, has priced its public offering of common stock and pre-funded warrants. The company announced it will offer 21,010,000 shares of common stock at $10.00 each, alongside pre-funded warrants to purchase 3,000,031 shares at $9.9999 per warrant.
The gross proceeds from the offering are expected to be approximately $240.1 million, before accounting for underwriting discounts and commissions, as well as offering expenses. Nkarta's plans for the net proceeds include funding research and clinical development of its NKX019 therapy, expanding internal manufacturing capabilities, and providing working capital and general corporate support.
Participants in the offering include a mix of new and existing investors, such as Adage Capital Partners LP, Boxer Capital, and Janus Henderson Investors, among others. The offering is anticipated to close on March 27, 2024, subject to standard closing conditions.
Leerink Partners, TD Cowen, Stifel, and Mizuho Securities are acting as joint bookrunners for the offering. The securities are being offered pursuant to a shelf registration statement previously declared effective by the Securities and Exchange Commission (SEC) on May 5, 2023.
The company's focus on allogeneic, off-the-shelf NK cell therapies involves a combination of cell expansion, cryopreservation platform, proprietary cell engineering technologies, and CRISPR-based genome engineering capabilities. These efforts aim to create a pipeline of cell therapies designed for significant therapeutic activity and broad outpatient access.
This news is based on a press release statement from Nkarta.
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