Nektar Restructures A Second Time, Focusing Squarely On Immunology
A year after reducing headcount by 70%, Nektar is trimming another 60% and looking to partner out cancer candidate NKTR-255 to focus on rezpeg for atopic dermatitis, with or without Lilly’s help.
You may also be interested in...
Public Company Edition: With the XBI up more than 9% in April, a few follow-on offerings –$23m to support Gamida Cell’s small product launch and $500m to fund Vaxcyte’s large clinical trial program – have made it to market. Also, China’s CytoMed launched the sixth biopharma IPO in the US this year.
Nektar, which had multiple trial failures for cancer drug bempegaldesleukin last year, and Lilly will now focus on rezpegaldesleukin in atopic dermatitis. Nektar is planning significant cost reductions.
The UK’s PureTech and US biotech Nektar have ended discussions about a potential merger which analysts did not see coming, but a deal could still happen and other companies may also make a move.