Nektar Therapeutics (NASDAQ: NKTR)
Nektar Therapeutics is having an overwhelmingly strong time in the pre-market trading hours this morning, and for good reason. Early this morning, data was released with regard to a clinical study that proved to be overwhelmingly positive. Below, we'll talk about that data, how the stock is reacting to the news, and what we'll be watching for with regard to NKTR ahead.
NKTR Meets Phase 3 Primary And Secondary Endpoints
As mentioned above, Nektar Therapeutics is having an overwhelmingly strong start in the pre-market hours this morning, after releasing positive clinical data. The data comes from the SUMMIT-07 Phase 3 clinical study, designed to assess the efficacy of NKTR-181. NKTR-181 is a first-in-class opiod analgesic. Ultimately, the treatment was designed to provide pain relief without the high levels of euphoria that are known to lead to abuse and addiction. The treatment is much needed too. In fact, the FDA saw such a large need for the treatment that it has already granted Fast Track designation, meaning that following today's positive results, approval will likely come relatively quickly. In a statement, NKTR clinical investigator Martin Hale, M.D., Medical Director of Gold Coast Research, had the following to offer:
“The data from this efficacy study are extremely important because they demonstrate that NKTR-181 produces strong analgesia in patients suffering from chronic pain while NKTR-181 has also demonstrated significantly lower abuse potential than oxycodone in a human abuse potential study... While standard opiod analgesics, including abuse-deterrent formulations, have been the most effective way to treat chronic pain, they are associated with serious safety concerns and many opioid-naive patients fear taking them because of the potential for abuse and addiction. The data for NKTR-181 suggest that it is a transformational pain medicine that could fundamentally change how we treat patients with chronic pain conditions.”
How The Stock Reacted To The News
As investors, one of the first things that we learn is that the news moves the market. Any time positive news is released with regard to a publicly-traded company, we can expect to see gains in the value of the stock that's representative of the company. Well, that's exactly what we're seeing from NKTR this morning. At the moment (8:00), the stock is trading at $18.45 per share after a gain of 19.03% thus far today.
What We'll Be Watching For Moving Forward
Moving forward, the CNA Finance team will be keeping a close eye on Nektar Therapeutics. In particular, we're interested in watching the company through the approval process of NKTR-181. Considering the strong data released this morning, the NDA should be coming soon. We'll continue to watch the story closely and bring you the news as it breaks!
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