Why Nektar Therapeutics Stock Is Falling Again Today
Shares of Nektar Therapeutics (NASDAQ: NKTR) had fallen by 11.5% as of 11:31 a.m. EDT on Monday. The biotech stock crashed on Friday, closing 27% lower after revealing in its second-quarter update Thursday evening that it had discovered issues with two manufacturing lots of experimental drug bempegaldesleukin ("bempeg" for short) used in early clinical studies. Nektar also hinted that there could be a delay in finalizing the development program for bempeg and Opdivo with its big partner, Bristol-Myers Squibb.
There hasn't been any more news since Nektar provided its second-quarter update on Thursday. However, the sell-off continued as investors remain very uneasy over the biotech's manufacturing issues with bempeg and the possibility that Bristol-Myers might scale back its collaboration with Nektar.
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Source Fool.com
