Nektar Therapeutics (NKTR) has returned an impressive 89% in the last 5 trading days, thanks to encouraging data from PIVOT-02, a phase 1/2 study of its drug candidate NKTR-214 in combination with Bristol-Myers Squibb's (BMY) Opdivo in melanoma, renal cell carcinoma and non-small lung cancer, reported on November 11th.
The initial findings of the PIVOT-02 study underscore the potential benefit of the combination of Opdivo and NKTR-214 across several tumor types, according to the Company.
Recent event:
On November 7, 2017, the Company reported better-than-expected Q3 financial results.
Net income in the third quarter of 2017 was $60.9 million or $0.37 per share compared to a net loss of $43.2 million or $0.32 per share in the third quarter of 2016. Revenue in the recent third quarter surged to $152.9 million from $36.3 million in the comparable year-ago quarter.
Analysts polled by Thomson Reuters expected the Company to earn $0.17 per share on revenue of $114.62 million.
Upcoming milestone:
-- Filing of NDA for NKTR-181, a new oral opioid analgesic candidate, for the treatment of chronic pain by April 2018.
NKTR closed Thursday’s (Nov.16) trading at $44.93, up 4.32%.