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Nektar Therapeutics (Nasdaq: NKTR) is a leading biopharmaceutical company headquartered in San Francisco, California, with additional manufacturing operations in Huntsville, Alabama. The company specializes in developing novel therapeutics using its advanced polymer conjugate chemistry technology platform. Nektar has a robust, wholly-owned research and development pipeline of investigational medicines in oncology, immunology, and virology, alongside a portfolio of approved partnered medicines.
Oncology: Nektar is actively working on activating the body's natural tumor-fighting mechanisms. Several immuno-oncology drug candidates are being studied in clinical trials for various cancer indications. One of the most notable candidates is NKTR-255, which targets the IL-15 pathway to enhance anti-tumor immune response by boosting the proliferation and persistence of NK and CD8+ T cells.
Immunology: The company is dedicated to addressing imbalances in the immune system to restore self-tolerance and achieve immune homeostasis. Rezpegaldesleukin (REZPEG), a novel T regulatory cell biologic, is being evaluated in Phase 2b studies for atopic dermatitis and alopecia areata. This biologic aims to dampen inflammatory responses and restore immune balance.
Virology: Nektar is exploring the use of selective immuno-modulators to combat viral infections by modulating the immune system's response. The company's technology has enabled the development of nine approved products for partners, including some of the top biopharmaceutical companies.
Recent Achievements: Recent highlights include the initiation of a Phase 2b study for REZPEG in severe to very severe alopecia areata, and a poster presentation at the 65th American Society of Hematology Annual Meeting showcasing preclinical data on NKTR-255. These studies underscore Nektar's commitment to advancing innovative treatments for critical health conditions.
Financial Condition: On March 4, 2024, Nektar announced a securities purchase agreement with TCGX for a $30 million private placement, bolstering its financial position and extending its cash runway into the third quarter of 2026. Additionally, the company reported ongoing clinical trials and collaborations, including studies with CAR-T cell therapies and PD-1 immunotherapies, further enhancing its pipeline.
For more information about Nektar Therapeutics and its pioneering drug development programs, visit Nektar's official website.
Nektar Therapeutics (NASDAQ: NKTR) announced on April 27, 2023, its intention to regain full rights to REZPEG from Eli Lilly, moving forward with a Phase 2b clinical study for atopic dermatitis in 2023. Previously presented Phase 1b data showcased significant improvements in efficacy measures such as EASI and vIGA-AD scores, lasting for an additional 36 weeks post-treatment. The company aims to explore REZPEG's potential in other autoimmune conditions as well. CEO Howard W. Robin expressed optimism about REZPEG's innovative mechanism and immune-modulatory profile, highlighting its potential to provide long-term disease control for patients. The company believes REZPEG may offer hope for those suffering from atopic dermatitis, a prevalent and debilitating condition affecting approximately 16.5 million U.S. adults.
Nektar Therapeutics announced a strategic reprioritization and cost restructuring plan focusing on immunology research, specifically on the development of REZPEG for atopic dermatitis and NKTR-255 for oncology. The workforce in San Francisco will be reduced by approximately 60%, aiming for a cash runway extension into mid-2026. The company reported cash and equivalents of about $456 million as of March 31, 2023, expecting annual savings of around $30 million by 2024 from the workforce cut. Nektar plans to continue core immunology programs and pursue strategic partnerships for NKTR-255. The first quarter 2023 financial results will be announced on May 9, 2023.
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