Nektar shares fall on updated response data for NKTR-214 combo

Nektar Therapeutics (NASDAQ:NKTR) was off $3.92 (10%) to $36.08 on Tuesday as investors digested updated response data released in an abstract ahead of this week's SITC meeting from a Phase I/II trial of NKTR-214 plus anti-PD-1 mAb Opdivo nivolumab.

The update appeared to disappoint investors who had hoped to see the response rate rise in a larger cohort of patients and with longer follow-up. However, the updated data, which showed no change from a 50% objective response rate (ORR) among patients with melanoma reported at the American Society of Clinical Oncology meeting in June, only included about six weeks of additional follow-up...