NEW YORK, Oct. 12, 2018 — Pomerantz LLP is investigating claims on behalf of investors of Nektar Therapeutics (“NKTR” or the “Company”) (NASDAQ: NKTR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Nektar and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 1, 2018, Plainview LLC (“Plainview”) published a report entitled “NKTR-214: Pegging the Value at Zero”. The report addressed the efficacy of Nektar’s lead clinical-stage drug NKTR-214, which the Company has touted as “a promising treatment for cancer, particularly in combination with checkpoint inhibitors.” The Plainview report stated that “Nektar hypothesized that IL-2 [a naturally occurring cytokine] could be improved by adding polyethylene glycol molecules to it (pegylating it) to extend the half-life and block interaction with” a specific receptor, but that “[u]nfortunately, the anticipated benefits did not materialize and pegylation has proved to be a drag on efficacy.” The Plainview report asserted that the core concept of Nektar’s plan to develop NKTR-214 into “a new universal cancer treatment” “has never worked in practice”, and further asserted that Nektar’s decision to only disclose certain trial results represented “an unprecedented level of data opacity.”
Following publication of the Plainview report, Nektar’s stock 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.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT: Robert S. Willoughby Pomerantz LLP [email protected]