Nektar Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Nektar Therapeutics (NASDAQ:NKTR) announced inducement grants under Nasdaq Listing Rule 5635(c)(4) for two newly hired employees totaling 18,310 non-qualified stock options under Nektar's 2025 Inducement Plan.

Grant details: 7,260 options granted on Nov 25, 2025 at an exercise price of $60.35 (closing price that day), and 11,050 options granted on Dec 4, 2025 at an exercise price of $57.69 (closing price that day). Options have an 8-year term and vest over 4 years with 1/4 vesting after one year and the remainder vesting monthly over the next three years, subject to continued employment and plan/option agreement terms.

Key Figures

Inducement options total 18,310 shares Aggregate non-qualified stock options granted to two new employees

First grant size 7,260 stock options Granted on November 25, 2025 to one employee

Second grant size 11,050 stock options Granted on December 4, 2025 to one employee

Exercise price 11/25 $60.35 per share Equal to NKTR closing price on November 25, 2025

Exercise price 12/04 $57.69 per share Equal to NKTR closing price on December 4, 2025

Option term 8 years Term length for inducement stock options

Initial vesting cliff 1/4 after 1 year Quarter of shares vest on first anniversary of grant date

Ongoing vesting 1/48 monthly Remaining shares vest monthly over next three years

Market Reality Check

$56.90 Last Close

Volume Volume 342,869 is below the 20-day average of 643,020, suggesting limited trading interest ahead of this routine HR update. low

Technical Shares at $56.90 are above the $29.57 200-day MA and about 14.97% below the 52-week high of $66.92.

Peers on Argus

Peers show mixed moves: QURE -5.41%, PRAX +2.90%, others near flat. With NKTR down 1.03% and no broad momentum flags, trading appears stock-specific rather than a coordinated biotech sector move.

Common Catalyst Another peer, Spyre Therapeutics (SYRE), also reported inducement awards today, hinting at a common governance/HR news theme rather than a fundamental sector catalyst.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 08	Clinical data update	Positive	+3.6%	Phase 2b REZOLVE-AD data showed significant efficacy in asthma and dermatitis.
Nov 06	Quarterly earnings	Neutral	+1.6%	Q3 2025 results with lower revenue, net loss, and cash runway into Q2 2027.
Oct 30	Conference participation	Neutral	+5.3%	Announcement of Jefferies Global Healthcare Conference presentation and webcast.
Oct 28	Earnings preview	Neutral	-2.6%	Scheduled date and call details for upcoming Q3 2025 financial results.
Oct 22	Clinical presentation news	Positive	+4.0%	REZOLVE-AD Phase 2b data accepted for late-breaking oral presentation at ACAAI.

Pattern Detected

Recent fundamental and clinical news (rezpegaldesleukin data, earnings, conference participation) often coincided with modest positive price reactions, suggesting the stock has recently responded constructively to clinical and corporate updates.

Recent Company History

Over the past few months, Nektar highlighted multiple milestones. New Phase 2b REZOLVE-AD data on Nov 8, 2025 showed statistically significant efficacy and was followed by a 3.57% gain. Q3 2025 earnings on Nov 6, 2025 detailed $11.8M revenue, a $35.5M quarterly net loss, and $270.2M in cash, with a modest price uptick. Conference participation and acceptance of REZOLVE-AD data for late-breaking presentation also aligned with positive single-day moves, framing today’s inducement grants as routine alongside a backdrop of active clinical development and capital management.

Market Pulse Summary

This announcement details routine equity inducement grants totaling 18,310 non-qualified stock options to two new employees under the 2025 Inducement Plan, with market-based exercise prices and four-year vesting. It follows recent clinical progress in the REZOLVE-AD program and Q3 2025 financial disclosures. Investors may monitor future equity award activity, ongoing development milestones, and capital-raising steps as key drivers of the company’s longer-term risk and dilution profile.

Key Terms

non-qualified stock options financial

"granted non-qualified stock options to purchase an aggregate of 18,310 shares"

Non-qualified stock options are a type of employee benefit that gives individuals the right to buy company shares at a set price, usually lower than the market value, within a certain period. Unlike other options that may have special tax advantages, these options are taxed as income when exercised, which can affect how much money the employee or investor ultimately gains. They are important because they can influence company compensation strategies and impact the financial outcomes for employees and investors.

Nasdaq Listing Rule 5635(c)(4) regulatory

"as an inducement material to such individual's entering into employment with Nektar, pursuant to Nasdaq Listing Rule 5635(c)(4)"

NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.

AI-generated analysis. Not financial advice.

SAN FRANCISCO, Dec. 5, 2025 /PRNewswire/ -- Nektar Therapeutics (NASDAQ: NKTR) today announced that the Organization and Compensation Committee of Nektar's Board of Directors granted non-qualified stock options to purchase an aggregate of 18,310 shares of its common stock to two newly-hired employees under Nektar's 2025 Inducement Plan.

Nektar's 2025 Inducement Plan was adopted by its Board of Directors on November 6, 2025 and is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Nektar (or following a bona fide period of non-employment), as an inducement material to such individual's entering into employment with Nektar, pursuant to Nasdaq Listing Rule 5635(c)(4).

7,260 stock options were granted to one employee on November 25, 2025 and have an exercise price per share equal to $60.35, which is equal to the closing price of Nektar's common stock on November 25, 2025, and 11,050 stock options were granted to one employee on December 4, 2025 and have an exercise price per share equal to $57.69, which is equal to the closing price of Nektar's common stock on December 4, 2025. The stock options have an eight-year term and will vest over four years with 1/4^th of the shares vesting on the one-year anniversary of the employee's grant date and 1/48^th of the shares vesting monthly thereafter over the next three years, subject to each employee's continued employment with Nektar on such vesting dates. The stock options are subject to the terms and conditions of Nektar's 2025 Inducement Plan, and the terms and conditions of the stock option agreement covering the grant.

About Nektar Therapeutics

Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. Nektar's lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel, first-in-class regulatory T cell stimulator being evaluated in two Phase 2b clinical trials, one in atopic dermatitis, one in alopecia areata, and in one Phase 2 clinical trial in Type 1 diabetes mellitus. Nektar's pipeline also includes a preclinical bivalent tumor necrosis factor receptor type II (TNFR2) antibody and bispecific programs, NKTR-0165 and NKTR-0166, and a modified hematopoietic colony stimulating factor (CSF) protein, NKTR-422. Nektar, together with various partners, is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system's natural ability to fight cancer, in several ongoing clinical trials.

Nektar is headquartered in San Francisco, California. For further information, visit www.nektar.com and follow us on LinkedIn.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements which can be identified by words such as: "could," "develop," "evaluate," "address," "may" and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding the therapeutic potential of, and future development plans for, rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422, and NKTR-255. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others: (i) our statements regarding the therapeutic potential of rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422 and NKTR-255 are based on preclinical and clinical findings and observations and are subject to change as research and development continue; (ii) rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422 and NKTR-255 are investigational agents and continued research and development for these drug candidates is subject to substantial risks, including negative safety and efficacy findings in future clinical studies (notwithstanding positive findings in earlier preclinical and clinical studies); (iii) rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422 and NKTR-255 are in clinical development and the risk of failure is high and can unexpectedly occur at any stage prior to regulatory approval; (iv) data reported from ongoing clinical trials are necessarily interim data only and the final results will change based on continuing observations; (v) the timing of the commencement or end of clinical trials and the availability of clinical data may be delayed or unsuccessful due to regulatory delays, slower than anticipated patient enrollment, manufacturing challenges, changing standards of care, evolving regulatory requirements, clinical trial design, clinical outcomes, competitive factors, or delay or failure in ultimately obtaining regulatory approval in one or more important markets; (vi) a Fast Track designation does not increase the likelihood that rezpegaldesleukin will receive marketing approval in the United States; (vii) patents may not issue from our patent applications for our drug candidates, patents that have issued may not be enforceable, or additional intellectual property licenses from third parties may be required; and (viii) certain other important risks and uncertainties set forth in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2025. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Contacts:

For Investors:

Vivian Wu
VWu@nektar.com

Corey Davis, Ph.D.
LifeSci Advisors, LLC
cdavis@lifesciadvisors.com
212-915-2577

Ahu Demir, Ph.D.
LifeSci Advisors, LLC
ademir@lifesciadvisors.com
212-915-3820

For Media:

Jonathan Pappas
LifeSci Communications
857-205-4403
jpappas@lifescicomms.com

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SOURCE Nektar Therapeutics

FAQ

What did Nektar (NKTR) announce on December 5, 2025 about inducement grants?

Nektar announced non-qualified stock options totaling 18,310 shares granted to two new employees under its 2025 Inducement Plan.

How many stock options did Nektar (NKTR) grant on Nov 25, 2025 and at what exercise price?

Nektar granted 7,260 options on Nov 25, 2025 with an exercise price of $60.35, equal to that day's closing price.

What were the terms of the Dec 4, 2025 option grant by Nektar (NKTR)?

On Dec 4, 2025 Nektar granted 11,050 options with an exercise price of $57.69, an eight-year term, and four-year vesting.

What is the vesting schedule for the Nektar (NKTR) inducement stock options?

Options vest over 4 years: 1/4 vests on the one-year anniversary, then 1/48th vests monthly over the next three years, subject to continued employment.

Under which plan were Nektar's (NKTR) inducement awards granted and when was it adopted?

The awards were granted under Nektar's 2025 Inducement Plan, which the board adopted on Nov 6, 2025.

Do Nektar's (NKTR) inducement option exercise prices reflect market prices?

Yes; each option's exercise price equals Nektar's closing common stock price on the respective grant date.