NEW YORK, March 18, 2015 /PRNewswire/ -- Bernstein
Liebhard LLP is investigating whether Nektar Therapeutics ("Nektar"
or the "Company") (NASDAQ: NKTR) issued materially false and
misleading statements to investors in violation of the federal
securities laws.
Nektar is a biopharmaceutical company that develops drug
candidates that utilize the Company's PEGylation and polymer
conjugate technology platforms in the
United States.
On the evening of March 17, 2015,
Nektar reported that results from a Phase 3 BEACON study of its
experimental breast cancer drug, NKTR-102, failed to achieve the
primary endpoint of overall survival. Further, the study
failed to achieve statistical significance in the secondary
endpoints of objective response rate (ORR) and progression-free
survival (PFS).
In reaction to this news, Nektar's stock price dropped about
16%, from a March 17, 2015 closing
price of $14.13 per share to
$11.96 in intra-day trading on
March 18, 2015.
Tellingly, from November 3, 2014
through January 13, 2015, Company
insiders sold approximately $30
million in Nektar shares – unloading substantial amounts of
their Nektar holdings before releasing the abysmal results of the
Company's NKTR-102 trial.
If you invested in Nektar and lost money, are interested in
discussing your rights, and/or have information relating to the
matter, please contact Joseph R. Seidman,
Jr. at (877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer and shareholder rights cases and recovered over
$3 billion for its clients. The
National Law Journal has recognized Bernstein Liebhard for
twelve consecutive years as one of the top plaintiffs' firms in the
country.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com
ATTORNEY ADVERTISING. © 2015 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com
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SOURCE Bernstein Liebhard LLP