Today’s Research Reports on Stocks to Watch: Tesaro and Nektar Therapeutics
NEW YORK, NY / ACCESSWIRE / October 23, 2018 / Positive data results from a rival sent shares of Tesaro into the red on Monday. While Netkar Therapeutics didn’t have any news to explain its big drop, it may have been a pessimistic report on the company from Plainview this month.
RDI Initiates Coverage on:
Tesaro, Inc.
https://rdinvesting.com/news/?ticker=TSRO
Nektar Therapeutics
https://rdinvesting.com/news/?ticker=NKTR
Tesaro, Inc. shares closed down 11.57% on Monday with nearly 3.4 million shares traded. There were two developments that may have caused the stock to go down. One was that Cowen analysts reiterated a "hold" rating on the stock with a one-year price target of $38. Shares on Friday close were about 9% higher than that price target. Also AstraZeneca and Merck & Co. had reported positive results from a phase 1 study of PARP inhibitor Lynparza at the European Society for Medical Oncology (ESMO) Congress this past weekend. Lynparza is a main competitor for Tesaro's Zejula ovarian cancer drug. Lynparza is so far the only PARP inhibitor to show an improvement in progression-free survival when used as a first-line maintenance therapy for ovarian cancer. Tesaro also made its own presentation of data at ESMO from a phase 1 clinical study of anti-PD-1 antibody TSR-042. Although the updated results were positive, it's still really early for TSR-042. And AstraZeneca's results for Lynparza overshadowed Tesaro's presentation.
Access RDI’s Tesaro, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=TSRO
Nektar Therapeutics shares were down 17.22% on Monday on about 6 million shares traded. There was no significant news from the company but it may be a report from Plainview that helped send shares of the struggling biotech down. According to Plainview, "the clinical dose of NKTR-214 yields only 7-20% of the active AUC (drug exposure) of a standard cycle of IL-2." Furthermore, Plainview maintains that lackluster efficacy as a monotherapy in phase 1 trials doesn't bode well for the combination trial panning out. Plainview's report states that NKTR-214's "thesis and clinical data are nearly identical to the now-disproven IDO inhibitor story, and the notion that a failed monotherapy will add statistically significant value as part of a combination therapy has never worked in practice." It was this summer that the company gave a disappointing update on NKTR-214, its lead Immuno-oncology candidate, in cancer patients. In February Bristol-Myers paid $1 billion for rights to 35% of NKTR-214's future profits, and $850 million for 8.3 million of the company's shares.
Access RDI’s Nektar Therapeutics Research Report at:
https://rdinvesting.com/news/?ticker=NKTR
Our Actionable Research on Tesaro, Inc. (NASDAQ: TSRO) and Nektar Therapeutics (NASDAQ: NKTR) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
