ARTICLE | Clinical News
Nektar shares dip after latest PIVOT-02 results
May 17, 2018 4:54 PM UTC
Nektar Therapeutics Inc. (NASDAQ:NKTR) slipped $6.57 to $79.23 on Thursday after reporting updated response rates from the Phase Ib/II PIVOT-02 study of NKTR-214 plus Opdivo nivolumab. The stock move slashed Nektar's market cap by more than $1.1 billion.
The data appeared in an abstract ahead of the American Society of Clinical Oncology meeting in Chicago. NKTR-214 is an immunostimulatory cytokine engineered to selectively activate IL-2 receptor beta chain (CD122; IL2RB) receptors on cytotoxic T cells, resulting in increased PD-1 expression on T cells and NK cells in the tumor microenvironment...