Nektar Therapeutics (NKTR), a biopharmaceutical company, has surged 10.34% in aftermarket trading session. Consequently, NKTR stock is trading at $11.95 at the time of the writing. The surge could be attributed to the announcement that the company would join the S&P midcap 400. On Friday, NKTR closed the day at $10.83 after declining 5.08% during regular trading hours.
Why NKTR Surging?
On Friday, it was announced that there would be numerous index changes in S&P Dow Jones Indices, including S&P 500, S&P MidCap 400, and S&P SmallCap 600. The changes were to be effective before the opening of trading on 20th December 2021. That in turn would coincide with the quarterly balances. NKTR, earlier being part of S&P MidCap 400, will move to S&P SmallCap 600.
Q3 2021 Operational Results
On 4th November, NKTR released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The company generated total revenue of $24.92 million during the quarter against $30 million for the same period of 2020. The total operating expenses bore by the company during the three months were $138.5 million against $133 million for the same period of 2020. The net loss suffered by the company during the quarter was $129.7 million (or $0.70 per basic and diluted share) against $108.5 million (or $0.61 per basic and diluted share) for the same quarter of fiscal 2021.
Executive Commentary
Howard W. Robin, President and CEO of NKTR, while commenting on the results said that the company has made significant progress across its portfolio during this past quarter. He hoped that based on the reliance upon innovation, as evident in the policies of the company, it would be able to bring further improvements in its performance during the upcoming quarter.
Future Outlook for NKTR
During the last month, NKTR stock has declined more than 30%. However, the analysts believe that the stock is in a good shape to achieve success in the near future. Hence, potential investors should keep a close eye on the performance of NKTR stock.
