Biotech Values

[DewDiligence]

NKTR +18% on clinical-trial_collaboration_testing Bempeg+Keytruda in_H&N_cancer:

https://finance.yahoo.com/news/nektar-announces-agreement-phase-2-130000352.html

NKTR is receiving no cash from MRK—only free drug for use in the trial. Rather, unding for the trial is being provided by NKTR’s financing deal with SJC Pharma (https://finance.yahoo.com/news/nektar-announces-collaboration-sfj-pharmaceuticals-125900283.html ).

Note that the 3-year PD-(L)1 exclusivity period of the BMY/NKTR collaboration, which was announced on 2/14/18, has now expired, enabling NKTR to test Bempeg with any PD-(L)1 agent of its choosing.

p.s. Even after today’s pop, NKTR’s share price is down about 70% from the day of the BMY announcement three years ago.