With the shares up about 30% from the time of my last article, I can't complain about how Nektar Therapeutics (NASDAQ:NKTR) has been performing. While an improvement in sentiment on biotech stocks in general certainly hasn't hurt, I also think Nektar is benefiting from signs of life in the Movantik business, a clever deal that may revive a cancer drug's commercial potential, and growing optimism about an early-stage pipeline asset in cancer.
Between the passage of time, the deal with Daiichi Sankyo, and a little more optimism about NKTR-214, I've added about $3 to my fair value (with the simple passage of time accounting for about half of that). With that, I'd say these shares still hold some appeal.
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Incremental Progress At Nektar Therapeutics