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Robin Howard, the President and CEO of Nektar Therapeutics (NASDAQ:NKTR), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. On February 19, Howard sold 23,774 shares of common stock, resulting in a total transaction value of approximately $24,011. The shares were sold at a weighted average price of $1.01, with individual trades executed at prices ranging from $1.00 to $1.04. The transaction comes as Nektar’s stock trades near $0.93, with the company maintaining a strong liquidity position and a current ratio of 4.24x. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value metrics.
Following the transaction, Howard retains direct ownership of 1,086,901 shares. Additionally, an indirect holding of 410 shares is maintained by Howard’s spouse. The sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). With the company’s next earnings report scheduled for February 27, InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report, providing deeper analysis of Nektar’s financial health and future prospects.
In other recent news, Nektar Therapeutics announced that its drug candidate, rezpegaldesleukin, received Fast Track designation from the FDA for treating moderate-to-severe atopic dermatitis in patients aged 12 and older. This designation could expedite the drug’s development and review process. Additionally, Nektar has successfully reached its enrollment target for the Phase 2b REZOLVE-AD trial, which is investigating rezpegaldesleukin’s efficacy in treating atopic dermatitis. The trial involves 398 patients and aims to measure improvements in the Eczema Area and Severity Index (EASI) score after a 16-week treatment period.
In a significant leadership change, Mary Tagliaferri, MD, stepped down as Senior Vice President and Chief Medical (TASE:BLWV) Officer for personal reasons, with Brian Kotzin, MD, taking over as interim Chief Medical Officer. B. Riley has initiated coverage on Nektar with a Buy rating, citing the potential of rezpegaldesleukin, also known as REZPEG, to disrupt the atopic dermatitis market. This market is currently dominated by Sanofi (NASDAQ:SNY)’s Dupixent. The company has also bolstered its financial position by selling its PEGylation manufacturing business, securing over $300 million in cash to fund operations into mid-2026.
Piper Sandler has identified Nektar Therapeutics as one of the companies with key Phase 2b readouts expected in 2025, emphasizing the importance of upcoming clinical trial results. These developments are part of Nektar’s ongoing efforts in the biopharmaceutical field, focusing on innovative therapeutics.
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