Nektar investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Nektar is a biopharmaceutical company that develops medicines in areas of high unmet medical need, including therapies for cancer, autoimmune disease, and chronic pain. Nektar’s lead immuno-oncology candidate is NKTR-214, also known as bempegaldesleukin or bempeg; it is a biologic substance developed to stimulate proliferation and growth of tumor-killing immune cells in the tumor-micro-environment. In the PIVOT-02 clinical study, Nektar evaluates the benefit, safety, and tolerability of combining NKTR-214 with Opdivo, an antibody, in collaboration with Bristol-Meyers Squibb Company.
The Class Period commences on February 15, 2019. On that day, Nektar presented clinical data from the PIVOT-02 Study at the 2019 ASCO Genitourinary Cancers Symposium.
According to the complaint, on August 8, 2019, after the market closed, Nektar revealed that a manufacturing issue caused two batches of bempegaldesleukin to differ from the other 20 batches that were produced. Moreover, these batches resulted in variable clinical benefit than other batches used in Nektar’s PIVOT-02 clinical trial.
Following this news, Nektar’s share price fell $8.65, or nearly 30%, to close at $20.92 per share on August 9, 2019.
The complaint alleges that, throughout the Class Period, the defendants failed to disclose to investors that: (1) Nektar did not comply with current good manufacturing practices; (2) as a result, batches of NKTR-214 were not produced consistently and differed meaningfully; (3) clinical results from PIVOT-02 differed based on the batch of NKTR-214 used in the study; (4) as a result, the PIVOT-02 study did not produce statistically significant results to support a finding of clinical benefit; and (6) as a result of the foregoing, the defendants’ positive statements about Nektar’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you are a member of the class described above, you may no later than October 18, 2019 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Returning the attached form or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-844-887-9500 or 1-610-667-7706, or via e-mail at firstname.lastname@example.org. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
Kessler Topaz Meltzer & Check, LLP
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