Nektar Therapeutics - NKTR STOCK NEWS

Nektar Therapeutics' senior management will participate in a fireside chat at Goldman Sachs' Annual Global Healthcare Conference on June 14th. The presentation will be accessible via a webcast.

Nektar Therapeutics reports financial results for Q1 2023, with revenue of $21.6 million. Cash and investments at $456.8 million, expected to support operations until mid-2026. Nektar regains full rights to rezpegaldesleukin, plans Phase 2b study in atopic dermatitis. R&D expense decreases due to bempegaldesleukin wind down. Net loss for Q1 2023 was $137.0 million. Nektar announces strategic reprioritization and cost restructuring plan.

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.

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.

Nektar Therapeutics (NKTR) reported its financial results for Q4 and full-year 2022, revealing a revenue decline to $22.0 million in Q4 from $25.0 million in Q4 2021, and a total revenue of $92.1 million for 2022, down from $101.9 million in 2021 due to decreased non-cash royalty revenue.

Operating costs decreased significantly to $74.5 million in Q4 from $137.9 million in the previous year, and for the full year 2022, costs were $468.2 million, down from $548.0 million in 2021. The net loss narrowed to $59.7 million in Q4 2022 from $145.6 million in Q4 2021. Cash and investments totaled approximately $505 million as of December 31, 2022.

Nektar Therapeutics (NKTR) announced topline results from its Phase 2 ISLAND study of rezpegaldesleukin (REZPEG) for systemic lupus erythematosus (SLE). While the study did not meet its primary endpoint—a 4-point reduction in SLEDAI-2K score—the mid-dose showed a placebo-adjusted response of 8.8% (mITT) and 13.9% (per protocol) with significant improvements in secondary endpoints, including BICLA and LLDAS. Lilly, Nektar's partner, has decided not to pursue Phase 3 trials for SLE, but future studies for other indications like atopic dermatitis are planned. Adverse events were generally mild to moderate, with higher discontinuation rates at higher doses.

Nektar Therapeutics (Nasdaq: NKTR) announced that its President and CEO, Howard Robin, will present at the 41^st Annual J.P. Morgan Healthcare Conference in San Francisco on January 11, 2023, at 8:15 a.m. PT. The presentation can be accessed via a Webcast, available on Nektar's Investor Events Calendar until February 11, 2023.

Nektar is a biopharmaceutical firm focusing on oncology and immunology, with a strong R&D pipeline. More information about the event and Nektar’s drug development can be found on their website.

Nektar Therapeutics (NKTR) announced significant findings from two presentations at the 64th ASH Annual Meeting. The first focused on NKTR-255, an investigational IL-15 receptor agonist that enhances NK and CD8+ T cell proliferation, which is set for a Phase 2/3 trial in relapsed/refractory large B-cell lymphoma (LBCL) following CAR-T therapy. The second presentation revealed NKTR-255’s potential to restore NK cell levels after daratumumab treatment in relapsed/refractory multiple myeloma, showing a notable 4-fold expansion of NK cells. The results indicate NKTR-255's promise in augmenting CAR-T efficacy.