Nektar Therapeutics (NKTR) is a leading biotherapeutics company engaged in the development of a vigorous R&D pipeline for investigational drugs related to oncological and immunological issues.
NKTR stock price in the regular trading on March 11, 2022, weakened by 2.74% to be $10.6. Its price further fell significantly by 47.3% at the last check of the premarket session of March 14, 2022.
NKTR: Events and Happenings
On March 14, 2022, NKTR and Bristol Myres Squibb co-announced the data regarding Phase 3 PIVOT IO-001 trials assessing the doublet therapy outcomes in comparison to monotherapy as a treatment for metastatic melanoma. The study regarding its efficacy and safety did not meet its prime endpoints. The data was reviewed by an independent Data Monitoring Committee.
NKTR: Key Financials
On February 28, 2022, NKTR released its financial report for the fourth quarter ended December 31, 2021. Some key aspects are shared here.
Revenue was $25.0 million in Q4 2021 corresponding to $23.5 million in the comparable quarter in 2020. The total revenue gained by $1.5 million over the year. Also, the company missed the analysts’ estimations by $320 thousand.
Basic and diluted net loss per share for Q3 2021 was $145.6 million or $0.79 corresponding to $117.2 million or $0.65 for the comparable period of 2020. The earnings per share of the company reduced YoY. Also, it topped the EPS estimations by $0.02.
On January 5, 2022, NKTR reported that the company’s CEO, Howard Robin participated at the virtual 40th Annual J.P. Morgan Healthcare Conference held on January 11. On December 15, 2021, NKTR updated on the presentation of the initial outcomes by its collaborator Eli Lilly & Company from Phase 1 trials of NKTR-358. The data was presented at the company’s Investment Community Meeting.
On December 13, 2021, KTR announced the presentation of outcomes of Phase 1 NKTR-255 trials at the Annual Meeting of the 63rd American Society of Hematology.
NKTR stock plummeted by 50% over the past year. In the recent premarket trading, its stock plummeted significantly as the company did not meet the primary endpoint in its clinical trials of PIVOT IO-001. For the first fiscal quarter of 2022, the company expects revenue of $23.3 million (which is less compared to Q4 2021) and EPS of -$0.84.