SAN FRANCISCO—Robin Howard, President and CEO of Nektar Therapeutics (NASDAQ:NKTR), recently sold shares of the company’s common stock, according to a recent SEC filing. The company’s stock has shown remarkable strength, posting a 98% gain over the past year, though InvestingPro analysis indicates the stock is currently trading below its Fair Value. The transactions, which took place on December 17 and 18, involved the sale of a total of 132,030 shares, resulting in proceeds of approximately $131,649.
The shares were sold at prices ranging from $0.99 to $1.01 per share. Following these transactions, Howard retains ownership of 1,110,675 shares directly, with an additional 410 shares held indirectly by his spouse.
The sales were made to cover tax obligations related to the vesting of restricted stock units, as noted in the filing, and were not discretionary trades by Howard. The company faces some financial challenges, with analysts not expecting profitability this year, though it maintains a healthy balance sheet with more cash than debt.
In other recent news, Nektar Therapeutics has finalized the sale of its Huntsville, Alabama manufacturing facility and related assets to an affiliate of Ampersand Capital Partners (WA:CPAP). This significant transaction aligns with Nektar’s strategic initiatives to streamline operations and focus on its core competencies in the pharmaceutical preparations industry. The financial terms of the transaction remain undisclosed.
During its Third Quarter 2024 Earnings Call, Nektar reported a net loss of $37 million, but anticipates full-year revenue between $90 million and $95 million. The company maintains a solid cash position of $249 million, expecting a year-end increase to about $265 million.
In clinical developments, Nektar’s lead asset, rezpegaldesleukin (REZPEG), is undergoing Phase 2 studies, with top-line data expected in 2025. The company’s NKTR-165 and NKTR-422 programs are also progressing, targeting multiple sclerosis and autoimmune diseases. These are recent developments indicating Nektar’s commitment to advancing its immuno-oncology pipeline.
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