10:23 AM EDT, 03/25/2024 (MT Newswires) -- Nkarta ( NKTX ) said Monday it priced an underwritten offering of its 21 million common shares at $10 apiece and pre-funded warrants to buy 3 million common shares.

The pre-funded warrants are being sold for $9.9999 apiece, the biopharmaceutical company said.

Nkarta ( NKTX ) expects roughly $240.1 million in gross proceeds and intends to utilize the net proceeds to finance the research and clinical development of NKX019 as well as for working capital and general corporate purposes, the company said.

The company anticipates to close the offering around Wednesday.

Nkarta ( NKTX ) stock was up more than 24% in recent Monday trading.

Price: 11.10, Change: +2.18, Percent Change: +24.44