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Nektar Therapeutics prices $325 million public offering: The Bay Area biotech is selling about 3.5 million shares of stock at $92 per share. The proceeds will fund “general corporate purposes,” including Phase 3 trials for its candidate rezpegaldesleukin in atopic dermatitis and alopecia areata. The drug, also known as rezpeg, failed a Phase 2b trial in alopecia areata last year. But data from the extension portion more or less met Wall Street analysts’ expectations, fueling Nektar’s ambitions. — Nicole DeFeudis
Maze Therapeutics’ $150M offering: The San Francisco biotech now has enough cash to fuel its R&D into 2029, supporting treatment candidates for APOL1-mediated kidney disease, phenylketonuria and chronic kidney disease. The biotech’s shares $MAZE were up nearly 9% in early Wednesday trading. — Kyle LaHucik