Nektar Therapeutics Terminates Material Agreement

TL;DR

**Nektar Therapeutics just terminated a key agreement, watch for details on what it means for their pipeline!**

AI Summary

Nektar Therapeutics filed an 8-K on February 16, 2024, reporting the termination of a material definitive agreement, effective February 12, 2024. The filing indicates the company, based in San Francisco, California, with IRS Employer Identification No. 94-3134940, is a pharmaceutical preparations firm. The specific details of the terminated agreement, including the counterparty and financial implications, were not disclosed in this filing.

Why It Matters

The termination of a material definitive agreement can significantly impact a company's strategic direction, financial outlook, and future operations, especially for a pharmaceutical company reliant on such agreements for drug development or commercialization.

Risk Assessment

Risk Level: medium — The termination of a material agreement introduces uncertainty regarding Nektar Therapeutics' future plans and financial stability, warranting a medium risk assessment.

Key Players & Entities

• NEKTAR THERAPEUTICS (company) — Registrant
• February 16, 2024 (date) — Date of report
• February 12, 2024 (date) — Date of earliest event reported
• San Francisco, California (company) — Business address location
• 94-3134940 (dollar_amount) — IRS Employer Identification No.

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value NKTR Nasdaq Capital Marke
• $3,000,000 — se") for an aggregate purchase price of $3,000,000 and all rights and obligations of the p

Filing Documents

• ea190567-8k_nektarther.htm (8-K) — 24KB
• 0001213900-24-014968.txt ( ) — 190KB
• nktr-20240212.xsd (EX-101.SCH) — 3KB
• nktr-20240212_lab.xml (EX-101.LAB) — 33KB
• nktr-20240212_pre.xml (EX-101.PRE) — 22KB
• ea190567-8k_nektarther_htm.xml (XML) — 3KB

02

Item 1.02 As previously disclosed, on February 13, 2018, Nektar Therapeutics ("Nektar") and Bristol-Myers Squibb Company ("BMS") entered into a Share Purchase Agreement (the "Purchase Agreement") and an Investor Agreement (the "IA") in connection with the purchase by BMS of 8,284,600 restricted shares (the "BMS Nektar Shares") of Nektar common stock. The Purchase Agreement and IA were previously described under Item 1.01 of Nektar's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on February 14, 2018, which description is hereby incorporated by reference into this Item 1.02. On February 12, 2024, Nektar entered into a privately negotiated Stock Repurchase Agreement with BMS pursuant to which, among other things, Nektar purchased from BMS all of the BMS Nektar Shares (the "Stock Repurchase") for an aggregate purchase price of $3,000,000 and all rights and obligations of the parties under the Purchase Agreement and the IA were terminated.

01

Item 8.01 Following the Stock Repurchase, the total number of outstanding shares of Nektar's common stock will decrease by 8,284,600 shares (or approximately 4.34% based on the number of outstanding shares reported on Nektar's Quarterly Report on Form 10-Q filed with the SEC on November 8, 2023). This reduction in outstanding shares will be reflected fully in the weighted-average outstanding shares for the quarter ending on June 30, 2024. 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NEKTAR THERAPEUTICS Date: February 16, 2024 By: /s/ Mark A. Wilson Mark A. Wilson Chief Legal Officer and Secretary 2

View Full Filing

View this 8-K filing on SEC EDGAR