Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Nektar Therapeutics, Inc. (Nektar or the Company) (NASDAQ: NKTR) securities between November 11, 2017, and October 2, 2018, inclusive (the Class Period). Nektar investors have until December 31, 2018 to file a lead plaintiff motion.
Investors suffering losses on their Nektar investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
On October 1, 2018, a report was published by Plainview LLC alleged that Nektars plan to develop NKTR-214 into a new universal cancer treatment has never worked in practice, and further argued that Nektars choice to only disclose certain trial results represented an unprecedented level of data opacity. On this news, Nektars share price fell, $5.63 per share, or 9.24%, over the following two trading sessions, closing at $55.33 per share on October 2, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) prior studies which attempted to pegylate IL-2 failed; (ii) NKTR-214’s extended half-life was unlikely to result in efficacy and created additional high-dosing safety concerns; (iii) NKTR-214 was less effective than IL-2 alone; (iv) the combination of NKTR-214 with nivolumab has not yet demonstrated significant positive results; and (v) as a result, Nektar’s public statements as set forth above were materially false and misleading at all relevant times.
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If you purchased shares of Nektar, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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