Robbins Arroyo LLP: Nektar Therapeutics (NKTR) Misled Shareholders According to Class Action

SAN DIEGO & SANTA CLARA, Calif.–(BUSINESS WIRE)–$NKTR #ClassAction–Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Nektar Therapeutics. (NASDQ:
NKTR) have filed a class action complaint against the company’s officers
and directors for alleged violations of the Securities Exchange Act of
1934 between November 11, 2017 through October 2, 2018. Nektar discovers
and develops innovative medicines in areas of high unmet medical needs.
The company’s lead clinical-stage drug is NKTR-214.

View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/nektar-therapeutics/

Nektar Accused of Misrepresenting the Viability of its Drug
NKTR-214

According to the complaint, NKTR-214 is a modified version of cytokine
IL-2. Nektar hypothesized that it could improve IL-2 – which had been
approved for treating cancer in 1992, but has limitations – by adding
polyethylene glycol molecules to it to extend the half-life and cause
fewer side effects than IL-2 alone. On November 11, 2017, Nektar issued
a press release touting the viability of NKTR-214 and announcing its
active enrollment of patients in the next phase of the trial. On March
1, 2018, in announcing its financial results for the fourth quarter and
year ended December 31, 2017, Nektar noted that its year was “truly
transformative … as we achieved a number of successes…” and noted the
advances it had made in relation to the NKTR-214 trial. Nektar continued
to make these representations until Plainview LLC published a report on
October 1, 2018, addressing the efficacy of NKTR-214. The report
asserted that the core concept of Nektar’s plan to develop NKTR-214 into
“a new universal cancer treatment” “has never worked in practice,” and
further asserted that Nektar’s decision to only disclose certain trial
results represented “an unprecedented level of data opacity.” Nektar’s
stock price fell $5.63 per share, or over 9%, over the following two
trading session to close at $55.33 per share on October 2, 2018, and
continues to decline.

Nektar Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
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Watch
.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Robbins Arroyo LLP
Leonid Kandinov
LKandinov@robbinsarroyo.com
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com

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