Nektar Therapeutics (NKTR) is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action. The Company's pipeline consists of drug candidates for therapeutic areas, including oncology, pain, anti-infectives and immunology. The Company's drugs include MOVANTIK (naloxegol) tablets, MOVENTIG, AdYnoVATE, NKTR-102 (next-generation topoisomerase I inhibitor), BAY41-6551 (Amikacin inhale, formerly NKTR-061), NKTR-181 (orally-available mu-opioid analgesic molecule), NKTR-102, NKTR-214 and MoVAnTiK fixed-dose combinations (opioid/naloxegol combinations). Its drugs also include Neulasta (pegfilgrastim), PEGASYS (peginterferon alfa-2a), PEG-INTRON (peginterferon alfa-2b), Somavert (pegvisomant) and Macugen (pegaptanib sodium injection).
Nektar Therapeutics (Nasdaq: NKTR) 4.3% LOWER; announced that it has commenced an underwritten public offering of $175 million of shares of its common stock. In connection with this offering, Nektar will also grant to the underwriters a 30-day option to purchase up to an additional $26.25 million of shares of common stock. J.P. Morgan is acting as the sole book-running manager in the offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Source
Back to Sept highs! Shares of Nektar Therapeutics (NKTR) were up nearly 22% to $18.90 after the San Francisco company on Monday unveiled results from the first late-stage clinical trial showing its experimental, addiction-resistant opioid NKTR-181 reduces pain significantly more than a placebo in patients with chronic back problems.
Shares of biotech firm Nektar Therapeutics collapsed in pre-market trading on Friday after the company revealed in an earnings call Thursday night that there had been manufacturing issues in two batches of experimental cancer drugs Nektar gave to patients in a trial. Analysts at JPMorgan, Jefferies, and Mizuho Securities downgraded the Nektar Therapeutics stock (ticker: NKTR) to Hold after the call. The company also appeared to signal a narrowing of its development collaboration with Bristol-Myers Squibb (BMY).
Nektar (NKTR) Leaves the S&P 500 Fri, Sep 27, 2019 Last month, we highlighted how Nektar Therapeutics (NKTR) has been on a one-way trip lower since its inclusion to the S&P 500 in March 2018. In fact, by the time NKTR officially became a member of the S&P 500, the stock had peaked out at $108.44 only eleven days earlier. Since then, the stock has dropped over 83%. A bad reaction to the last earnings report in August when the stock fell 29.25% in a single day has only added to the pain, but also caused another issue. With the market cap being cut by $1.49 billion that day alone—on top of the $11.74 billion loss since the first day as part of the S&P 500—the company no longer met the minimum market cap requirement for the S&P 500 of $4.1 billion. Additionally, the August report also showed four consecutive quarters with negative EPS which violated the S&P 500 requirement of positive earnings for the previous four quarters. As a result, after the close yesterday, S&P announced that it would be removing NKTR from the S&P 500. Instead, it will move to the S&P 400 Mid-Cap Index with casino company Las Vegas Sands (LVS) taking its place in the S&P 500. Ironically, after falling over 80% from its high, NKTR is trading up 3.13% today in the wake of the news. Perhaps, the S&P 500 and NKTR was a combination that just wasn't meant to be.
