Nektar Therapeutics (NASDAQ: NKTR) is having an incredibly strong start to the trading session this morning, and for good reason. The company released data from a key clinical trail exciting investors and leading to massive gains in the value of the stock. Today, we’ll talk about what we saw from the data, how the stock reacted to the news, and what we’ll be watching for with regard to NKTR ahead.
NKTR Releases Clinical Data
As mentioned above, Nektar Therapeutics is having an incredibly strong day in the market today after releasing clinical data. The data came from a study in which the company partnered with Bristol-Myers Squibb (NYSE: BMY). The study was designed to evaluate the combination of Opdivo by BMY with NKTR-214 as a new option in the battle against various advanced stage cancers. Of course, the data proved to be overwhelmingly positive. To read the full release, click here! In a statement, Fouad Namouni, M.D., head of the Oncology Department at BMY, had the following to offer:
“These initial findings underscore the potential benefit of the combination of Opdivo and NKTR-214 across several tumor types… We believe that a combination regimen which utilizes two different, complementary, and non-overlapping mechanisms designed to harness the body’s own immune system to fight cancer has the potential to benefit patients and should be the subject of additional research.”
The above statement was follows up by Mary Tagliaferri, M.D., Senior Vice President of Clinical Development at NKTR. Here’s what Dr. Tagliaferri had the offer:
“In the dose-escalation stage of the PIVOT trial, we’ve observed important response rates across all three tumor types -melanoma, renal cell carcinoma and non-small lung cancer – in both PD-L1 positive and PD-L1 negative patients…. All patients with responses in the trail continue on treatment. Of note, we observed responses in 3 of 4 stage IV non-small cell lung cancer patients whose tumors did not express PD-L1 and who had progressed on prior chemotherapy, including one patient who experienced a complete response. In the combination treatment, there were no Grade 3 or higher immune-mediated adverse events at the recommended Phase 2 dose or below. Nektar and Bristol are now actively enrolling patients in the Phase 2 expansion part of the PIVOT study in 5 different tumor types.”
How The Stock Reacted To The News
As we’ve come to expect any time positive clinical data is released by a publicly traded biotechnology company, Nektar Therapeutics is having an incredibly strong day in the market. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:48), NKTR is trading at 40.00 per share after a gain of $7.50 per share or 23.08% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NKTR. In particular, we’re interested in following the story surrounding NKTR-214 in combination with Opdivo as the treatment seems to be proving to be a revolutionary one. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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