Why did Nektar Therapeutics (NKTR) stock flip in the after-hours on Friday?

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OKTA Stock
OKTA Stock

Nektar Therapeutics (NKTR) shares soared 10.34% in after-hours on Friday, December 03, 2021, and closed the weekly trading at $11.95. However, in the regular trading session of Friday, NKTR’s stock lost 5.08%. NKTR shares have fallen 36.56% over the last 12 months, and they have moved down 3.39% in the past week. Over the past three months, the stock has lost 31.76%, while over the past six months, it has shed 34.52%.

Let’s have a brief discussion about its recent news and developments.


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NKTR on S&P SmallCap 600

Nektar Therapeutics (NKTR) will join &P SmallCap 600 in December 2021. S&P Dow Jones Indices is a division of S&P Global, which provides essential intelligence for individuals, companies, and governments to make decisions with confidence.

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NKTR participation in the upcoming events

Nektar Therapeutics (NKTR) will present data at two upcoming medical meetings for two of its cytokine immuno-oncology programs: IL-2 agonist, bempegaldesleukin (BEMPEG), and IL-15 agonist, NKTR-255.

Nektar will participate at the 2021 European Society for Medical Oncology Immuno-Oncology (ESMO-IO) Congress in Geneva, Switzerland from December 8 to December 11, 2021, and will be presenting clinical data for BEMPEG from the ongoing PROPEL study in patients with non-small cell lung cancer (NSCLC).

The company will also do two clinical data presentations for NKTR-255 in patients with relapsed/refractory hematologic malignancies during the 63rd American Society of Hematology (ASH) Annual Meeting in Atlanta, Georgia from December 11 to December 14, 2021.

NKTR new appointment

On November 15, 2021, Nektar Therapeutics (NKTR) appointed Diana M. Brainard, M.D., as an independent director to its Board of Directors. Dr. Brainard has more than two decades of experience working in the healthcare sector and academia to Nektar.

NKTR latest financial results

On November 4, 2021, Nektar Therapeutics (NKTR) released its financial results for the third quarter ended September 30, 2021.

Q3 2021 financial highlights

  • NKTR reported total revenue of $24.9 million in Q3 2021 compared to $30.0 million in the third quarter of 2020.
  • Total operating costs and expenses were $138.5 million in Q3 2021 compared to $133.1 million in the third quarter of 2020.
  • It suffered a net loss of $129.7 million or $0.70basic and diluted loss per share in Q3 2021 compared to a net loss of $108.6 million or $0.61 basic and diluted loss per share in the third quarter of 2020.
  • The company ended the quarter with cash and investments in marketable securities of approximately $955.3 million compared to $1.2 billion on December 31, 2020.

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Conclusion

Well, as of this writing we have no such news which could justify its mixed performance on Friday. First, it declined in the regular trading but later it recovered its loss. Let’s see how it commence trading on Monday?

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