NEKTAR THERAPEUTICS (NASDAQ:NKTR) Files An 8-K Termination of a Material Definitive AgreementItem 1.02 Termination of a Material Definitive Agreement
On November 24, 2017, Nektar Therapeutics, a Delaware corporation (the “Company”) reported on a Form 8-K that it did not expect Bayer Healthcare LLC (“Bayer”) to continue further development of Amikacin Inhale. On December 14, 2017, the Company received formal notice of termination from Bayer of the Co-Development, License and Co-Promotion Agreement, dated August 1, 2007, between the Company and Bayer,effective as of January 13, 2018 (“Agreement”). There are no payment obligations to Bayer that arise as a result of the termination of the Agreement, and the Company will avoid incurring approximately $25 to $30 million in commercial manufacturing scale-up and readiness costs over the next 12-18 months that would have been required to meet the Company’s obligations under the Agreement. Please refer to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on August 6, 2007, for a full description of the Agreement.
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).