Nektar Therapeutics - NKTR STOCK NEWS

Nektar Therapeutics (Nasdaq: NKTR) announced the publication of preclinical data in Blood Advances on NKTR-255, highlighting its effects on natural killer (NK) cell function in multiple myeloma. The findings demonstrate NKTR-255's ability to enhance NK cell responses, increase NK activating receptor expression, and improve antibody-dependent cellular cytotoxicity (ADCC) in a humanized mouse model. These results support ongoing clinical studies, including a Phase 1 trial for NKTR-255 in relapsed or refractory cancers, showcasing its potential for synergistic treatment effects when combined with other therapies.

Nektar Therapeutics (NKTR) reported Q2 2022 financial results with revenues of $21.6 million, down from $28.3 million in Q2 2021. Operating costs rose to $174.4 million from $138.5 million. The company experienced a net loss of $159.1 million or $0.85 per share, compared to a loss of $125.5 million or $0.69 per share in the prior year. Cash and investments totaled approximately $628.2 million, expected to fund operations into 2025. Nektar is focusing on promising candidates like NKTR-358 and NKTR-255 to enhance shareholder value.

Nektar Therapeutics (NASDAQ: NKTR) will announce its Q2 financial results on August 4, 2022, post U.S. markets close. CEO Howard Robin will host a conference call at 5:00 p.m. ET to discuss results. Access to the press release and the live audio webcast is available through their website. The conference call will also have a replay available until September 4, 2022.

Nektar Therapeutics (NKTR) has promoted Jillian B. Thomsen to Senior Vice President & Chief Financial Officer. With over 30 years in finance, she previously served as SVP, Finance & Chief Accounting Officer since 2008. Her expertise in financial strategy will be crucial for Nektar's future, especially in overseeing accounting and capital market transactions. Gil Labrucherie, the outgoing CFO, has been with the company for 17 years and is leaving for a private biotechnology opportunity. This leadership change aims to enhance the company's financial oversight.

BigHat Biosciences has appointed Rob Chess to its board of directors. With extensive experience in biotech leadership, Chess aims to leverage his expertise in drug discovery to enhance BigHat's mission of developing advanced antibody therapies. He is the former CEO of Nektar Therapeutics (NASDAQ:NKTR) and currently serves as Chairman at Twist Biosciences (NASDAQ:TWST). BigHat, founded in 2019 and based in the San Francisco Bay Area, focuses on innovative therapeutic solutions using AI and has raised $25 million to date, establishing key partnerships with leading biopharma.

Nektar Therapeutics (NKTR) reported Q1 2022 financial results, revealing a revenue of $24.8 million, up from $23.6 million in Q1 2021. Operating costs increased to $141.4 million from $133.0 million year-over-year, with R&D expenses rising to $107.3 million. The net loss narrowed to $90.4 million or $0.49 per share, compared to a net loss of $123.0 million or $0.68 per share in Q1 2021. Nektar's strategic plan focuses on key pipeline programs and extends its cash runway into 2025, with cash reserves standing at $704.4 million.

Bristol Myers Squibb (NYSE:BMY) reported Q1 2022 revenues of $11.6 billion, a 5% increase year-over-year, driven by strong sales from in-line products like Eliquis and Opdivo. Earnings per share (EPS) stood at $0.59 (down 34% YoY), while non-GAAP EPS rose 13% to $1.96. The company achieved FDA approvals for Opdualag and Camzyos, expanding its portfolio. However, guidance adjustments reflected pressures from recent LOE products like Revlimid.

Nektar Therapeutics has announced a new strategic plan focusing on key pipeline programs NKTR-358 and NKTR-255, along with a cost restructuring plan. This restructuring will extend the company's cash runway into the first half of 2025, with an expected cash balance of $440-$450 million by year-end. The company will reduce its workforce by approximately 70% to ensure the funding of essential R&D programs without needing to raise external capital for at least three years. Executive changes include the stepping down of Chief Medical Officer Dimitry Nuyten and Chief Commercial Officer John Northcott.

Nektar Therapeutics (Nasdaq: NKTR) unveiled promising preclinical data for NKTR-255, an IL-15 receptor agonist, at the April 2022 Tandem Meetings. Collaborators from New York Medical College showcased how NKTR-255 enhances the efficacy of CAR-T therapies in various cancer models. Key findings included significant proliferation of NK cells and improved anti-tumor activity against Ewing sarcoma and Burkitt lymphoma. Live streaming of presentations occurred on April 23, 2022, emphasizing NKTR-255's potential in boosting immune responses against cancer.