Why Nektar Therapeutics Stock Popped Today
Shares of Nektar Therapeutics (NASDAQ: NKTR) were up 11.4% as of 3:15 p.m. EST on Monday. The biotech presented data Sunday evening at the American Society of Hematology (ASH) annual meeting from a preclinical trial evaluating immunotherapy NKTR-255. Nektar also received a boost from news that Sanofi (NASDAQ: SNY) plans to acquire clinical-stage biotech Synthorx (NASDAQ: THOR) for $2.5 billion.
The two stories impacting Nektar are actually related, in a way. NKTR-255 is an IL-15 agonist; Synthorx's lead candidate THOR-70 focuses on IL-2. These two targeted interleukins have similar structures. Sanofi's interest in the potential for Synthorx's lead drug arguably increases the attractiveness of NKTR-255 as well.
Image source: Getty Images.
Source Fool.com
