Nektar Therapeutics Stock Price, News & Analysis

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.

Nektar Therapeutics (Nasdaq: NKTR) will host an investor and analyst event on December 12, 2022, at 7:30 a.m. CST. The event will feature management and Dr. Cameron Turtle, Chair of Cancer Immunotherapy at the University of Sydney, discussing the NKTR-255 program and the role of IL-15 in cell therapy. A live webcast will be available at this link, with replay access through January 12, 2023.

Nektar Therapeutics (Nasdaq: NKTR) presented promising preclinical data for NKTR-288 at the 2022 SITC Annual Meeting. NKTR-288, a PEG-conjugate of interferon gamma, demonstrated enhanced anti-tumor activity through upregulation of MHC Class I and PD-L1 in tumors, particularly in combination with anti-PD-1 or anti-PD-L1 therapies. The findings support further clinical evaluation of NKTR-288 as both a monotherapy and in combination treatments. The ongoing Phase 2 JAVELIN Bladder Medley study, led by Merck KGaA, aims to provide comparative efficacy data by end of 2024.

Nektar Therapeutics (Nasdaq: NKTR) has published preclinical data in Blood Advances on its product NKTR-255, a polymer-conjugated human IL-15. The findings show NKTR-255 induces CD8⁺ T cell and natural killer cell proliferation and enhances the efficacy of human CD19 CAR-T cells in lymphoma models. The company plans to progress into a Phase 2/3 clinical trial for NKTR-255 in combination with CAR-T therapies for relapsed or refractory diffuse large B-cell lymphoma. These promising results support ongoing research into NKTR-255's potential in cancer immunotherapy.