CLASS ACTION UPDATE: LAW OFFICE OF Brodsky & Smith, LLC Reminds Investors of Lead Plaintiff Deadline in Class Action Against NEKTAR THERAPEUTICS (NASDAQ: NKTR)
BALA CYNWYD, PA / ACCESSWIRE / October 3, 2019 / Law office of Brodsky & Smith, LLC reminds investors of the deadline to file to be a lead plaintiff regarding claims against Nektar Therapeutics ("Nektar" or the "Company") (Nasdaq - NKTR - News) for possible breaches of Federal Securities law.
The Class Period commences on February 15, 2019, the date that Nektar presented clinical data from the PIVOT-02 Study at the 2019 ASCO Genitourinary Cancers Symposium. In the PIVOT-02 clinical study, Nektar is evaluating the benefit, safety, and tolerability of combining NKTR-214 with Opdivo, an antibody, in collaboration with Bristol-Meyers Squibb Company.
According to the complaint, on August 8, 2019, Nektar revealed that a manufacturing issue caused two batches of bempegaldesleukin to differ from the other 20 batches that were produced. Moreover, these batches resulted in variable clinical benefit than other batches used in Nektar's PIVOT-02 clinical trial. Following this news, Nektar's share price fell $8.65, or nearly 30%, to close at $20.92 per share on August 9, 2019.
The filed complaint alleges that, throughout the Class Period, the defendants failed to disclose to investors that: (1) Nektar did not comply with current good manufacturing practices; (2) as a result, batches of NKTR-214 were not produced consistently and differed meaningfully; (3) clinical results from PIVOT-02 differed based on the batch of NKTR-214 used in the study; (4) as a result, the PIVOT-02 study did not produce statistically significant results to support a finding of clinical benefit; and (6) as a result of the foregoing, the defendants' positive statements about Nektar's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased shares of Nektar between February 15, 2019 and August 8, 2019 and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. The deadline for filing is October 18, 2019. You may contact Marc Ackerman, Esquire or Jordan Schatz, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, or by calling toll free 877-534-2590. For additional information please go to http://www.brodskysmith.com/cases/nektar-therapeutics-nasdaq-nktr/.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
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