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Tag: Nektar Therapeutics

  • Nektar Therapeutics (NKTR) Stock Surges In Extended Session

    Nektar Therapeutics (NKTR) Stock Surges In Extended Session

    Investor anticipation ahead of fresh trial results propelled Nektar Therapeutics (NASDAQ: NKTR) to notable market momentum on Monday. Following a 12.10% rise during the regular session, when the stock ended at $9.54, shares jumped 35.32% in after-hours trading to close at $12.91. The rise preceded a webcast and investor call to reveal top-line findings from a worldwide Phase 2b study.

    Future Data Presentation Encourages Market Hope

    Initial findings from the 16-week induction phase of the current REZOLVE-AD study will be the focus of the investor call and live webcast. In this study, individuals with moderate-to-severe atopic dermatitis are evaluated for the effectiveness of Nektar Therapeutics’ experimental treatment, rezpegaldesleukin, a regulatory T-cell (Treg) stimulator. Key findings will be detailed in a morning news release that will accompany the presentation. A webcast replay will be accessible on the company’s investor relations website for at least 30 days after the event.

    Clinical Program Development Across Indications

    With 396 patients enrolled in the REZOLVE-AD study, Nektar Therapeutics met its enrollment goal in January. The following month, NKTR also completed the enrollment of 84 patients with severe-to-very severe alopecia areata in the Phase 2b study, REZOLVE-AA.

    Additionally, Nektar Therapeutics conducted a Phase 2 trial evaluating rezpegaldesleukin in around 70 people who had just been diagnosed with type 1 diabetes in collaboration with a leading diabetes research consortium TrialNet.

    Regulatory Recognition and Global Scientific Opinions

    Rezpegaldesleukin’s promise as a medicine was further supported in February when the U.S. Food and Drug Administration (FDA) granted it Fast Track designation. Nektar Therapeutics’ collaborative work was showcased at the 30th Annual Congress of the European Hematological Association (EHA) in Milan.

    The presentation was developed in partnership with the Fred Hutchinson Cancer Center that highlighted the positive results that NKTR-255 and lisocabtagene maraleucel produced for patients with relapsed or refractory large B-cell lymphoma.

    Because of its strong clinical pipeline and regulatory achievements, continue to bolster investor confidence, Nektar Therapeutics (NKTR) is positioned as a leading competitor in immune-modulating medications.

  • Update on PIVOT IO-001 Phase 3 Trials: Nektar Therapeutics (NKTR) Stock Sinking Premarket.

    Nektar Therapeutics (NKTR) is a leading biotherapeutics company engaged in the development of a vigorous R&D pipeline for investigational drugs related to oncological and immunological issues.

    NKTR stock price in the regular trading on March 11, 2022, weakened by 2.74% to be $10.6. Its price further fell significantly by 47.3% at the last check of the premarket session of March 14, 2022.

    NKTR: Events and Happenings

    On March 14, 2022, NKTR and Bristol Myres Squibb co-announced the data regarding Phase 3 PIVOT IO-001 trials assessing the doublet therapy outcomes in comparison to monotherapy as a treatment for metastatic melanoma. The study regarding its efficacy and safety did not meet its prime endpoints. The data was reviewed by an independent Data Monitoring Committee.

    NKTR: Key Financials

    On February 28, 2022, NKTR released its financial report for the fourth quarter ended December 31, 2021. Some key aspects are shared here.

    Revenue

    Revenue was $25.0 million in Q4 2021 corresponding to $23.5 million in the comparable quarter in 2020. The total revenue gained by $1.5 million over the year. Also, the company missed the analysts’ estimations by $320 thousand.

    EPS

    Basic and diluted net loss per share for Q3 2021 was $145.6 million or $0.79 corresponding to $117.2 million or $0.65 for the comparable period of 2020. The earnings per share of the company reduced YoY. Also, it topped the EPS estimations by $0.02.

    On January 5, 2022, NKTR reported that the company’s CEO, Howard Robin participated at the virtual 40th Annual J.P. Morgan Healthcare Conference held on January 11. On December 15, 2021, NKTR updated on the presentation of the initial outcomes by its collaborator Eli Lilly & Company from Phase 1 trials of NKTR-358. The data was presented at the company’s Investment Community Meeting.

    On December 13, 2021, KTR announced the presentation of outcomes of Phase 1 NKTR-255 trials at the Annual Meeting of the 63rd American Society of Hematology.

    Conclusion

    NKTR stock plummeted by 50% over the past year. In the recent premarket trading, its stock plummeted significantly as the company did not meet the primary endpoint in its clinical trials of PIVOT IO-001. For the first fiscal quarter of 2022, the company expects revenue of $23.3 million (which is less compared to Q4 2021) and EPS of -$0.84.

  • Nektar Therapeutics (NKTR) Stock on a Rise in Aftermarket, Here’s Why

    Nektar Therapeutics (NKTR) Stock on a Rise in Aftermarket, Here’s Why

    Nektar Therapeutics (NKTR), a biopharmaceutical company, has surged 10.34% in aftermarket trading session. Consequently, NKTR stock is trading at $11.95 at the time of the writing. The surge could be attributed to the announcement that the company would join the S&P midcap 400. On Friday, NKTR closed the day at $10.83 after declining 5.08% during regular trading hours.

    Why NKTR Surging?

    On Friday, it was announced that there would be numerous index changes in S&P Dow Jones Indices, including S&P 500, S&P MidCap 400, and S&P SmallCap 600. The changes were to be effective before the opening of trading on 20th December 2021. That in turn would coincide with the quarterly balances. NKTR, earlier being part of S&P MidCap 400, will move to S&P SmallCap 600.

    Q3 2021 Operational Results

    On 4th November, NKTR released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The company generated total revenue of $24.92 million during the quarter against $30 million for the same period of 2020. The total operating expenses bore by the company during the three months were $138.5 million against $133 million for the same period of 2020. The net loss suffered by the company during the quarter was $129.7 million (or $0.70 per basic and diluted share) against $108.5 million (or $0.61 per basic and diluted share) for the same quarter of fiscal 2021.

    Executive Commentary

    Howard W. Robin, President and CEO of NKTR, while commenting on the results said that the company has made significant progress across its portfolio during this past quarter. He hoped that based on the reliance upon innovation, as evident in the policies of the company, it would be able to bring further improvements in its performance during the upcoming quarter.

    Future Outlook for NKTR

    During the last month, NKTR stock has declined more than 30%. However, the analysts believe that the stock is in a good shape to achieve success in the near future. Hence, potential investors should keep a close eye on the performance of NKTR stock.