Nektar Therapeutics Issues Statement Confirming That It Does Not Hold Any Cash Deposits or Securities at Silicon Valley Bank

Rhea-AI Summary

Nektar Therapeutics (Nasdaq: NKTR) has confirmed it has no accounts, cash deposits, or securities at Silicon Valley Bank as of March 11, 2023. This statement follows concerns regarding the bank's stability. As of December 31, 2022, Nektar reported approximately $505 million in cash and investments in marketable securities, ensuring its financial stability. Nektar is focused on developing investigational medicines in oncology and immunology, maintaining a strong R&D pipeline.

Positive

• Nektar has approximately $505 million in cash and investments.
• No exposure to Silicon Valley Bank mitigates potential financial risk.

Negative

• None.

SAN FRANCISCO, March 11, 2023 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) today issued a statement confirming that it does not have any accounts at Silicon Valley Bank, and it does not hold any cash deposits or securities at Silicon Valley Bank.  At December 31, 2022, the company had approximately $505 million in cash and investments in marketable securities.

About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company with a robust, wholly owned R&D pipeline of investigational medicines in oncology and immunology as well as a portfolio of approved partnered medicines. Nektar is headquartered in San Francisco, California, with additional operations in Huntsville, Alabama. Further information about the company and its drug development programs and capabilities may be found online at http://www.nektar.com.

CONTACT:
Nektar Therapeutics
Vivian Wu  
628-895-0661

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SOURCE Nektar Therapeutics

FAQ

Does Nektar Therapeutics have accounts at Silicon Valley Bank?

No, Nektar Therapeutics has confirmed it does not have any accounts at Silicon Valley Bank.

What is Nektar Therapeutics' cash position as of December 31, 2022?

As of December 31, 2022, Nektar Therapeutics had approximately $505 million in cash and investments.

What is the stock symbol for Nektar Therapeutics?

The stock symbol for Nektar Therapeutics is NKTR.

What areas does Nektar Therapeutics focus on in its R&D?

Nektar Therapeutics focuses on investigational medicines in oncology and immunology.