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Here's Why Nektar Therapeutics Surged Today
Shares of Nektar Therapeutics (NASDAQ: NKTR), a biopharmaceutical company, are on the move following its presentation at the J.P. Morgan Healthcare conference. The stock climbed 11.1% during Tuesday's session as investors cheered Nektar's 2019 to-do list.
So what
Nektar has commercial-stage drugs, but sales and royalty revenue from partners that market its treatments trickled in at just $41 million during the first nine months of 2019. Investors nervous about NKTR-214 and its ability to boost the efficacy of PD-1 checkpoint inhibitors have hammered the stock more than 60% lower since a peak last March.
Last year, Bristol-Myers Squibb (NYSE: BMY) paid Nektar $1.85 billion up front for rights to NKTR-214. Investors were encouraged to hear that the company finished 2018 with $1.92 billion in cash and investments, thanks largely to Bristol's contribution.
In 2019, Nektar has a lot of plans for that cash, including:
Potential approval and launch of NKTR-181, an abuse-deterrent opioid painkiller that doesn't induce an addictive state of euphoria.
Human proof-of-concept data from a potential new autoimmune drug, NKTR-358.
Two new phase 1b studies of NKTR-358 in autoimmune conditions, to be initiated by Eli Lilly.
A phase 1 study of NKTR-255 in multiple myeloma.
...
https://finance.yahoo.com/news/apos-why-...00012.html
Here's Why Nektar Therapeutics Surged Today
Shares of Nektar Therapeutics (NASDAQ: NKTR), a biopharmaceutical company, are on the move following its presentation at the J.P. Morgan Healthcare conference. The stock climbed 11.1% during Tuesday's session as investors cheered Nektar's 2019 to-do list.
So what
Nektar has commercial-stage drugs, but sales and royalty revenue from partners that market its treatments trickled in at just $41 million during the first nine months of 2019. Investors nervous about NKTR-214 and its ability to boost the efficacy of PD-1 checkpoint inhibitors have hammered the stock more than 60% lower since a peak last March.
Last year, Bristol-Myers Squibb (NYSE: BMY) paid Nektar $1.85 billion up front for rights to NKTR-214. Investors were encouraged to hear that the company finished 2018 with $1.92 billion in cash and investments, thanks largely to Bristol's contribution.
In 2019, Nektar has a lot of plans for that cash, including:
Potential approval and launch of NKTR-181, an abuse-deterrent opioid painkiller that doesn't induce an addictive state of euphoria.
Human proof-of-concept data from a potential new autoimmune drug, NKTR-358.
Two new phase 1b studies of NKTR-358 in autoimmune conditions, to be initiated by Eli Lilly.
A phase 1 study of NKTR-255 in multiple myeloma.
...
https://finance.yahoo.com/news/apos-why-...00012.html
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