March 18, 2015
Bernstein Liebhard LLP is investigating whether Nektar Therapeutics (“Nektar” or the “Company”) (NASDAQ: NKTR) issued materially false and misleading statements to investors in violation of the federal securities laws.
Nektar is a biopharmaceutical company that develops drug candidates that utilize the Company’s PEGylation and polymer conjugate technology platforms in the United States.
On the evening of March 17, 2015, Nektar reported that results from a Phase 3 BEACON study of its experimental breast cancer drug, NKTR-102, failed to achieve the primary endpoint of overall survival. Further, the study failed to achieve statistical significance in the secondary endpoints of objective response rate (ORR) and progression-free survival (PFS).
In reaction to this news, Nektar’s stock price dropped about 16%, from a March 17, 2015 closing price of $14.13 per share to $11.96 in intra-day trading on March 18, 2015.
Tellingly, from November 3, 2014 through January 13, 2015, Company insiders sold approximately $30 million in Nektar shares – unloading substantial amounts of their Nektar holdings before releasing the abysmal results of the Company’s NKTR-102 trial.
If you invested in Nektar and lost money, are interested in discussing your rights, and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.