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Lawsuit filed for Investors in shares of Nektar Therapeutics (NASDAQ: NKTR)

08-27-2019 04:12 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Nektar Therapeutics (NASDAQ: NKTR) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Nektar Therapeutics (NASDAQ: NKTR) shares over alleged securities laws violations.

An investor, who purchased shares of Nektar Therapeutics (NASDAQ: NKTR), filed a lawsuit over alleged violations of Federal Securities Laws by Nektar Therapeutics.

Investors who purchased shares of Nektar Therapeutics (NASDAQ: NKTR) have certain options and for certain investors are short and strict deadlines running. Deadline: October 18, 2019. NASDAQ: NKTR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

San Francisco, CA based Nektar Therapeutics develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. Shares of Nektar Therapeutics (NASDAQ: NKTR) grew from $11.94 per share in early 2017 to as high as $109.32 per share on March 2018.

On August 8, 2019, after-market hours, Nektar Therapeutics announced that a manufacturing issue caused two out of the twenty batches of bempegaldesleukin to differ from the production line. These faulty batches resulted in variable clinical benefit than other batches used in its PIVOT-02 clinical trial.

Shares of Nektar Therapeutics (NASDAQ: NKTR) declined to as low as $17.30 per share on August 14, 2019.

The plaintiff claims that between February 15, 2019 and August 8, 2019, the Defendants failed to disclose to investors, that the Company did not comply with current good manufacturing practices, that, as a result, batches of NKTR-214 were not produced consistently and differed meaningfully, that clinical results from PIVOT-02 differed based on the batch of NKTR-214 used in the study, that, as a result, the PIVOT-02 study did not produce statistically significant results to support a finding of clinical benefit, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Nektar Therapeutics (NASDAQ: NKTR) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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