BMS, Nektar partner on NKTR-214 combos in $3.6B deal

Nektar Therapeutics (NASDAQ:NKTR) gained $8.34 (11%) to $84 on Wednesday after partnering with Bristol-Myers Squibb Co. (NYSE:BMY) to develop and commercialize Nektar's NKTR-214 in combination with BMS's anti-PD-1 mAb Opdivo nivolumab and Opdivo plus the pharma’s Yervoy ipilimumab in select solid tumors.

The deal leaves the door open for the biotech to still partner the asset for other combinations and indications.

Nektar will receive an upfront payment of $1.9

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