NEKTAR THERAPEUTICS (NASDAQ:NKTR) Files An 8-K Termination of a Material Definitive AgreementItem 1.02 Termination of a Material Definitive Agreement
As previously reported in Nektar’s Form 10-Q filed on August 9, 2017, Nektar Therapeutics, a Delaware corporation (“Nektar”), filed a request for re-examination of the negative opinion adopted by the European Medicines Agency’s Committee for Medicinal Products for Human Use (“CHMP”) for the conditional marketing authorization application for ONZEALD™ in the European Union (the “CHMP Appeal”). We noted that if we were not successful with the CHMP Appeal, and Daiichi Sankyo Europe GmbH (“Daiichi”) exercised its right to terminate the Collaboration Agreement and License Agreement (“Collaboration Agreement”) between Nektar and Daiichi, under the terms of the original Collaboration Agreement, we would be obligated to pay to Daiichi a $12.5 million termination payment. On December 6, 2017, Nektar received notice of termination from Daiichi of the Collaboration Agreement which will become effective as of February 4, 2018. As a result of this termination, Nektar will pay to Daiichi a $12.5 million termination payment and all rights and licenses granted to Daiichi under the Collaboration Agreement will revert exclusively to Nektar. This payment does not change Nektar’s 2017 financial guidance, which was provided in the financial results call conducted on November 7, 2017. Please refer to Nektar's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 1, 2016, for a full description of the Collaboration 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).