Nektar (NKTR) Says NKTR-102 Trial Did Not Achieve Statistical Significance

Nektar Therapeutics (NKTR) shares are currently halted in the extended session Tuesday following news that topline results from its Phase 3 BEACON study evaluating single-agent NKTR-102 in patients with advanced breast cancer did not achieve statistical significance.

The biopharmaceutical company said that in a topline analysis of 852 patients from the trial, the drug, NKTR-102, provided a 2.1 month improvement in median overall survival over patients on chemotherapy, but the effect was not statistically significant. Nektar also said that it is exploring potential paths forward for NKTR-102 in metastatic breast cancer with regulatory agencies.

During today’s trading session, NKTR opened lower but as of 9.58 a.m. ET hit an intraday high of $14.26 before declining to a low of $13.86 with its 52-week range being $10.10 to $17.53. Ticker closed at $14.13 on the Nasdaq on Tuesday.

Fundamentally, NKTR shows the following financial data:

  • $237.82 million in cash in most recent quarter
  • $441.62 million t-12 total assets
  • $36.33 million total equity
  • $200.71 million t-12 revenue
  • ($53.92) million annual net income
  • ($151.98) million free cash flow

On valuation measures, Nektar Therapeutics shares have a T-12 price/sales ratio of 9.21 and a price/book for the same period of 50.79. EPS is ($0.45). The name has a market cap of $1.87 billion and a median Wall Street price target of $20.00 with a high target of $21.00. Currently there are 7 analysts that rate NKTR a ‘Buy’. No analyst rates it a ‘Sell’.

In terms of share statistics, Nektar Therapeutics has a total of 131.38 million shares outstanding with 0.36% held by insiders and 90.70% held by institutions. The stock’s short interest currently stands at 9.81%, bringing the total number of shares sold short to 12.84 million.

Shares of the San Francisco California-based company are up 4.77% year-over-year ; down 9.23% year-to-date.

Nektar Therapeutics focuses on developing drug candidates that utilize its PEGylation and polymer conjugate technology platforms in the U.S. The firm was founded in 1990.

Be the first to comment

Leave a Reply

Your email address will not be published.


*