The wait goes on for Nektar (NKTR)
shareholders. These shares are still well off the performance
trajectory of the major biotech ETFs, though the underperformance on a
year-to-date basis hasn’t been so bad. Unfortunately, with key data on
its bempeg pushed to next year, investors will have to wait a little
longer to see the answer to some crucial questions.
I continue to believe that the first-line melanoma indication of bempeg (in combination with Bristol-Myers’ (BMY)
Opdivo) alone can support a fair value above today’s price, but there
are still substantial uncertainties about this program, to say nothing
of the other clinical bempeg programs. Beyond that, compounds like
NKTR-255 and NKTR-358 also have worthwhile potential, but only future
data read-outs will tell us how much of that “potential” is real.
Follow this link to the full article:
Nektar Seeing Modest Covid-19 Delays Ahead Of Key Trial Data
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