NEKTAR THERAPEUTICS (NASDAQ:NKTR) Files An 8-K Results of Operations and Financial Condition
Item 2.02
Please see the disclosure relating to the estimated cash and investments in market securities of Nektar Therapeutics, a Delaware corporation (the “Company”), set forth under Item 2.02 “Other Events” of this Current Report on Form 8-K, which is incorporated by reference into this Item 2.02.
On December 27, 2018, the Company announced that President and Chief Executive Officer, Howard W. Robin, will make a presentation at the upcoming 37th Annual J.P. Morgan Healthcare Conference in San Francisco on Tuesday, January 8, 2019, at 9:00 a.m. Pacific time.The presentation will be accessible via a Webcast through a link posted on the Investors, Events Calendar section of the Nektar website: https://ir.nektar.com/events-and-presentations/events. In addition, the Company will webcast the Q&A breakout session immediately following its presentation at 9:30 a.m. Pacific time. This Webcast will be available for replay until February 18, 2019.
As part of the presentation, Mr. Robin will provide an overview of a research collaboration that the Company entered into with Gilead Sciences, Inc. (“Gilead”) on December 7, 2018 to explore the combination of the Company’s drug candidate, NKTR-255, an IL-15 agonist that stimulates NK and effector-memory T cells, with antiretroviral therapies in the Gilead portfolio.The collaboration is limited to evaluation of NKTR-255 in the field of virology.Under the research collaboration, Gilead will conduct the preclinical studies and will also be responsible for the costs of those studies. The Company and Gilead will each contribute their respective compounds for the evaluation and will each maintain global commercial rights to their respective drugs and/or drug candidates. During the agreement term, if the Company chooses to partner NKTR-255 in the field of virology (excluding oncology), Gilead has a right of first negotiation.
In addition, Mr.Robin intends to announce that, based upon the Company’s preliminary estimates, as of December31, 2018, the Company had cash and equivalents of $1.92 billion.This financial information has been prepared by and is the responsibility of the Company’s management and has not been audited by the Company’s independent registered public accounting firm. Accordingly, the Company’s independent registered public accounting firm does not express an opinion on or provide any other form of assurance with respect to this preliminary data. This financial information is subject to the completion of the Company’s year-end financial closing procedures, the preparation of the Company’s consolidated financial statements, and the completion of the audit of the Company’s consolidated financial statements as of and for the year ended December31, 2018, and the Company’s actual results may differ from these estimates.
The Company expects the presentation and Q&A breakout session will include certain forward-looking statements regarding the Company’s business and proprietary drug candidates including the timing of clinical trial start dates and regulatory outcomes. Actual results could differ materially from these forward-looking statements, which are subject to important risks and uncertainties set forth in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 8, 2018. The Company undertakes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise.
About NEKTAR THERAPEUTICS (NASDAQ:NKTR)
Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action. The Company’s pipeline consists of drug candidates for therapeutic areas, including oncology, pain, anti-infectives and immunology. The Company’s drugs include MOVANTIK (naloxegol) tablets, MOVENTIG, AdYnoVATE, NKTR-102 (next-generation topoisomerase I inhibitor), BAY41-6551 (Amikacin inhale, formerly NKTR-061), NKTR-181 (orally-available mu-opioid analgesic molecule), NKTR-102, NKTR-214 and MoVAnTiK fixed-dose combinations (opioid/naloxegol combinations). Its drugs also include Neulasta (pegfilgrastim), PEGASYS (peginterferon alfa-2a), PEG-INTRON (peginterferon alfa-2b), Somavert (pegvisomant) and Macugen (pegaptanib sodium injection).