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Stock Alert: Nektar Therapeutics Up 13% On Collaboration With Merck

Nektar Therapeutics (NKTR) shares are rising more than 13 percent on Wednesday morning as the company entered into a clinical trial collaboration and supply agreement with Merck for a Phase 2/3 study of bempegaldesleukin Nektar's investigational IL-2 pathway agent, in combination with Merck's KEYTRUDA.

The trial is intended for first-line treatment of patients with metastatic or unresectable recurrent squamous cell carcinoma of the head and neck whose tumors express PD-L1.

Currently, shares are at $25.49, up 13.49 percent from the previous close of $22.46. For the 52-week period, the shares have traded in a range of $13.63-$25.95 on a volume of 1,196,426.

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