|Bid||18.10 x 4000|
|Ask||18.30 x 800|
|Day's Range||17.80 - 18.38|
|52 Week Range||17.30 - 69.76|
|Beta (3Y Monthly)||2.77|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 5, 2019 - Nov 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||44.92|
Amarin shares are plunging after the biotech company revealed the FDA will proceed with a review of its heart drug. This coming as Nektar Therapeutics is sliding after it disclosed a quality control issue with a key cancer therapy. Yahoo Finance's Jared Blikre joins Akiko Fujita on 'The Ticker' to discuss.
NEW YORK , Aug. 15, 2019 /PRNewswire/ -- Bragar Eagel & Squire, P.C. is investigating potential claims against Nektar Therapeutics, Inc. (NASDAQ: NKTR). Our investigation concerns whether Nektar has violated ...
NEW YORK , Aug. 14, 2019 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers Nektar Therapeutics ("Nektar" or ...
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Nektar Therapeutics (“Nektar” or “the Company”) (NASDAQ: NKTR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Nektar admitted on August 8, 2019, that it had suffered manufacturing problems resulting in two batches of Bempegaldesleukin differing from the other 20 batches produced.
(Bloomberg) -- Investors sentiment on Nektar Therapeutics has soured as a manufacturing snafu raised concern about what had initially been seen as promising clinical data for its experimental cancer drug bempegaldesleukin.As Wall Street analysts continue to debate the drug’s potential, investors are fleeing fast. The stock fell 8% on Monday, bringing its two-day loss to 36%, or about $1.8 billion of market value. Nektar is now 2019’s worst performer in the S&P 500, after taking the top spot shortly after joining the benchmark last year.Some bulls have already backpedaled after the company also said it’s collaboration with Bristol-Myers Squibb Co. has narrowed to fewer studies, and lung cancer data won’t be presented at the ESMO conference in Barcelona next month.Nektar has seen three downgrades just last week, with the number of hold or equivalent ratings rising to a total of six. Eight other analysts who cover the stock stood by their bullish recommendations.The debate over bempegaldesleukin, formerly known as NKTR-214, is set to continue until the company reports first results from its late-stage studies, which are not expected until next year.To contact the reporter on this story: Tatiana Darie in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Richard RichtmyerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Nektar dropped 40% on Friday after announcing it had manufacturing issues in two batches of experimental cancer drugs.
Thursday's gain felt a little too strong to trust, and sure enough, it didn't last. The S&P 500 fell 0.66% on Friday, leaving it squarely in the middle of equally important support and resistance levels.Source: Shutterstock General Electric (NYSE:GE) was the proverbial problem child. It fell more than 3%, logging its seventh loss in eight sessions as worries about its turnaround resurfaced. Smaller Nektar Therapeutics (NASDAQ:NKTR) posted the decidedly larger loss though, giving up nearly 30% of its value after the company reported a production issue with one of the drugs in a key trial right now.One noteworthy winner … Amgen (NASDAQ:AMGN) rallied 6% on the heels of news it has won a case involving the patent on its Enbrel. There just weren't enough names like Amgen to finish the week on a high note.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Medical Marijuana Stocks to Cure Your Portfolio As the new trading week kicks off, take a closer look at the stock charts of News Corp (NASDAQ:NWSA), Xilinx (NASDAQ:XLNX) and Gilead Sciences (NASDAQ:GILD). They're all positioned for major moves, with just the right nudge. Gilead Sciences (GILD)For the better part of June and July, Gilead Sciences was working on a break above a couple of different resistance levels. Although they were tough, a move above them could mark the beginning of a prolonged move higher. Unfortunately, before that advance had a chance to fully take hold, it petered out in the latter part of July.It may be too soon to give up on GILD stock just yet though. Last week it found support at a (very) familiar spot, and in the meantime we've moved to within reach of what could prove to be a hugely catalytic technical event. * Click to EnlargeThe support is the floor that lines up all the key lows since the end of 2018, marked in white on both stock charts. Gilead shares pushed up and off that floor last week, ending the pullback. * Thanks to June's big jump following a broad rally effort since March, the purple 50-day moving average line is close to crossing above the white 200-day average … a so-called "golden cross" that may spur more buying. * The weekly chart puts things in perspective. The loss since 2015 has been significant. The same weekly chart shows the stock is also on the verge of breaking above a couple different long-term resistance lines driving that downtrend. One is marked in blue, and the other red, tagging all the key highs going back for years. Xilinx (XLNX)Xilinx shares have been fighting a losing battle since July 24, when a budding rally quickly rolled over and turned into a selloff. Broad concerns about trade with China and specific concerns about its relationship with Huawei up-ended the bullish effort.The selloff initially looked manageable. Although the dip wasn't small, shares hinted as if they would find support where they most needed to (and where they did the last time support was found). Thursday's sharp gain largely solidified the bullish backdrop. Friday's big stumble, however, may have cemented more weakness in place. * 10 Internet Stocks Getting Hammered * Click to EnlargeThe line in the sand is the 200-day moving average, plotted in white on both stock charts. XLNX broke that support in a big way on Friday, logging its lowest close in weeks to end the week. * The volume for the past two weeks is problematic for the bulls too. The selling has been on high volume, and the one good day in the midst of the rout -- Thursday -- was clearly on below average volume. * Last week's selling has also pulled Xilinx to within striking distance of a key Fibonacci retracement line near $102. It may not break it with a straight-line move, but it's still vulnerable to such a breakdown. News Corp (NWSA)It was wholly inspired by its fourth-quarter earnings beat. Nonetheless, News Corp shares demonstrated impressive technical strength on Friday, finding support where it ideally would. The big move carried shares to a huge line in the sand as well, and though it didn't push shares past that line, NWSA stock is perfectly positioned to punch through that mark this week. It may just need to peel back a little bit first to get a good running start. * Click to EnlargeThe line in question is right around $13.77, marked in yellow on both stock charts, near where NWSA peaked on Friday as well as in late June. * The rally, however, ultimately started on Wednesday with a hammer-shaped reversal bar that found technical support at the gray 100-day and white 200-day moving average lines. * It would be easy to overlook in the midst of the volatility, but the purple 50-day moving average line moves above the 200-day moving average last month, pointing to a well-established uptrend.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Large-Cap Stocks to Sell Right Now * 7 Stocks Under $7 to Invest in Now * 7 Marijuana Stocks With Critical Levels to Watch The post 3 Big Stock Charts for Monday: Xilinx, News Corp and Gilead Sciences appeared first on InvestorPlace.
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Nektar Therapeutics (“Nektar” or “the Company”) (NASDAQ:NKTR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Nektar admitted on August 8, 2019, that it had suffered manufacturing problems resulting in two batches of Bempegaldesleukin differing from the other 20 batches produced.
Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Nektar Therapeutics (“Nektar” or the “Company”) (NASDAQ: NKTR) investors concerning the Company and its officers’ possible violations of federal securities laws. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to email@example.com, or visit our website at www.glancylaw.com. On August 8, 2019, after the market closed, the Company revealed that a manufacturing issue caused two batches of bempegaldesleukin to differ from the other 20 batches that were produced.
Nektar Therapeutics stock crashed to a two-year low Friday after the biotech company revealed a manufacturing issue could have skewed the results of several cancer treatment studies.
Law Offices of Howard G. Smith announces an investigation on behalf of Nektar Therapeutics investors concerning the Company and its officers’ possible violations of federal securities laws.
Nektar Therapeutics (NASDAQ: NKTR) crashed more than 30% Friday after the company reported a huge second-quarter sales miss. Nektar also said manufacturing problems may have impacted the results of several studies of its NKTR-214 cancer treatment drug, which it has been testing in combination with Bristol-Myers Squibb (NYSE: BMY) drug Opdivo. On Friday, Benzinga Pro subscribers received options alerts related to two large Nektar option trades.
(Bloomberg Opinion) -- The drug industry is rarely dull, but this week took things to another level.Things kicked off Tuesday with the Food and Drug Administration’s unusual revelation that Novartis AG had delayed disclosing manipulated data related to early animal tests of its $2.1 billion gene therapy Zolgensma. While the drug is still considered safe, the lapse sparked a decline in Novartis shares. A couple of days later, a wild Thursday afternoon created broader biotech turmoil. Amarin Corp.’s stock plunged after it revealed an unexpected delay in the FDA review of new data for its fish oil-derived heart drug Vascepa. Nektar Therapeutics followed by disclosing a manufacturing issue for its key cancer drug that may have impacted trial results. Its shares tanked more than 30% Friday.Investing in biotechnology can be a tricky business. Stock buyers typically focus on clinical-trial readouts or shifts in drug pricing and health policy, but a whole host of other things can go wrong. Good management and transparency can make things smoother. In the case of this week’s stumbles, spin from company leaders made things worse. Novartis’s reputation still suffers from an earlier effort to seemingly buy White House access via former Trump fixer Michael Cohen. That should have encouraged the company to err on the side of transparency when it discovered this data issue in March, and let regulators and the public know as soon as possible. Instead, Novartis decided to complete a rather slow internal investigation and didn’t inform the FDA until after the drug was approved two months later.The data in question came from a test in mice that is no longer in use. Patient safety wasn’t affected, and the drug will rightfully stay on the market. But the FDA relies on drugmakers to provide clean data, especially for drugs like Zolgensma that are on an accelerated path to approval. Breaking that trust is a big deal for a company of this size, and the FDA was understandably livid about the way this was handled. CEO Vas Narasimhan held a conference call and analyst Q&A after the issue became public, but spent much of it defensively downplaying the problem. He didn’t do nearly enough to fix his relationship with the agency or boost investor trust. The problem escalated on Friday after a group of Senators wrote a letter to the FDA blasting Novartis and urging action. Amarin’s issue wasn’t withholding information from the FDA, but putting words in its mouth. The company said late last month that it believed it was unlikely that the FDA would choose to convene an expert panel to review Vascepa’s ability to cut the risk of heart attacks and strokes. That wasn’t entirely unreasonable as the FDA’s target date for marketing approval on Amarin’s new data was less than two months away. But the FDA sets those dates and can change them. Amarin disclosed Thursday that the agency wants to convene a panel in November after all. That will likely delay approval until at least December. The panel may go swimmingly, and this may be only a minor delay. But investor expectations would have been better calibrated if Amarin hadn’t publicly made risky assumptions. Nektar’s situation is the strangest of all. On its second-quarter conference call Thursday, management revealed that the company was curious about why some patients weren’t responding as well to its cancer drug bempegaldesleukin. After examining early drug lots used in trials, it found variations in two batches. Nektar said it’s rebuilding its quality-control strategy as a result, which is a good idea; its decision to try to spin a flub that may have harmed patients into an upside case for its medicine wasn’t. The company spent a chunk of its second-quarter call elaborating a confusing post-hoc analysis of the impact of different drug batches. As you might imagine, the way they sliced the data suggests that its drug might have looked more promising if it weren’t for those bad batches. The analysis split already small trials into even smaller new subgroups, which makes the data difficult to interpret. Only a new trial will give investors data they can actually trust. In short, Nektar’s attempt at clarification only muddied the waters. When confronted with bad news or uncertainty, the desire to spin it is natural. Drugmakers would be wise to resist that urge. When the truth comes out, it just makes the backlash bigger. To contact the author of this story: Max Nisen at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
MILWAUKEE , Aug. 9, 2019 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating possible securities fraud claims against Nektar (Nasdaq: NKTR) resulting from inaccurate statements Nektar made regarding ...
(Bloomberg) -- Investors are having an eventful day in drug-developer stocks after regulatory and manufacturing issues rocked a trio of high-flying companies on Wall Street.Nektar Therapeutics Inc. led losses in the Nasdaq Biotechnology Index early on Friday, plummeting as much as 41%. The company’s disclosure of quality control issues in the manufacturing of its experimental cancer therapy raised more questions about its efficacy. Nektar is now rivaling Abiomed Inc. for the worst performer in the S&P 500 this year, after leading the index at one point last year. Amarin Corp. plunged as much as 19%, its biggest drop in almost nine months, after U.S. regulators scheduled a November advisory panel on its application to promote the heart benefits of its Vascepa capsules. The company -- whose ADRs had surged from less than $3 apiece to nearly $24 in under a year -- now expects a delay in the Food and Drug Administration’s decision on the key drug-label expansion.Another laggard on Friday was Sarepta Therapeutics Inc. The stock extended losses to fall another 5.1% after a report in a government database Thursday raised concerns about its Duchenne muscular dystrophy gene therapy. The company called the submission “erroneous” and bulls rushed to the stock’s defense. Nonetheless, investors remain skittish.To be sure, it wasn’t all bad news in the biotech space. A former Wall Street darling, Puma Biotechnology Inc., surged as much as 32%, the most since March, after sales of its cancer drug recovered from the disappointment in the prior quarter’s results. The stock, however, still trades 96% below its peak in 2014.The Nasdaq Biotech Index fell as much as 1.8% before midday Friday. It’s on pace for its fourth weekly decline in five weeks.To contact the reporter on this story: Tatiana Darie in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Jeremy R. CookeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of biotech firm Nektar Therapeutics collapsed after the company revealed in an earnings call that there had been manufacturing issues in two batches of experimental cancer drugs.
Shares of drugmaker Nektar Therapeutics were dropping nearly 40% Friday after the company announced manufacturing issues in two batches of experimental cancer drugs that the company gave to patients in a trial. Separately, the company reported a quarterly loss of 63 cents a share on revenue of $23.3 million. "Nektar is making good progress advancing our multiple programs in immuno-oncology, immunology and pain," said Howard W. Robin, president and CEO of Nektar.
Here's a roundup of top developments in the biotech space over the last 24 hours: Scaling The Peaks (Biotech stocks hitting 52-week highs on Aug. 8) Aquinox Pharmaceuticals Inc (NASDAQ: AQXP ) Avedro Inc ...
The biotech's Q2 numbers weren't nearly as sweet as they were a year ago. But the main focus continues to be on its pipeline progress.