Nektar Therapeutics (NASDAQ:NKTR) Updates On Phase 3 SUMMIT-07 Trial

Nektar Therapeutics (NASDAQ:NKTR)

Nektar Therapeutics (NASDAQ:NKTR), a company listed in the healthcare sector and biotechnology industry, closed its last trading session with a loss of 0.49% and a closing price of $22.42 for the week. During its most recent session, the total exchanged volume was 2.21 million shares while the average volume stands close to 1.71 million shares.

The relative volume of NKTR stands at 1.29. This relative volume can be explained as a ratio between existing volume and last quarter average value, intraday adjusted. The stock’s last closing price was almost 50% above its 200-day moving average.

The buzz

Nektar Therapeutics (NASDAQ:NKTR) recently reported on its SUMMIT-07 Phase III efficacy trial of NKTR-181. This drug is a new chemical entity intended to offer powerful pain relief that can result in addiction and abuse with standard opioids. The U.S. FDA has granted the investigational drug NKTR-181 Fast Track status for the cure of moderate-to-severe chronic pain.

Martin Hale, M.D., the Medical Director of Gold Coast Research, reported that the report from this efficacy trial is extremely vital as it shows that NKTR-181 results in strong analgesia in people suffering from chronic pain whereas NKTR-181 has also shown considerable lower abuse potential compared to oxycodone in a human “abuse potential” trial.

While standard opioid analgesics have remained the most effective way to cure chronic pain, they are linked with grave safety concerns and numerous opioid-naïve subjects fear taking them due to the potential for addiction and abuse. The report for NKTR-181 indicate that it could be a transformational pain drug that could fundamentally transform how they treat people with chronic pain ailments.

The SUMMIT-07 trial assessed twice-daily dosing of ‘NKTR-181’ against a placebo in the treatment of more than 600 opioid-naïve subjects with moderate to grave chronic low back pain. Nektar Therapeutics (NASDAQ:NKTR) reported that the clinical study met the trial’s primary efficacy objective in demonstrating considerably enhanced chronic back pain relief with drug NKTR-181 against a placebo. Key secondary objectives of the trial were also achieved with high statistical significance.

The Phase III SUMMIT-07 trial used an EERW study design in people with moderate to grave chronic low back pain. Nektar Therapeutics (NASDAQ:NKTR) reported that the study comprised an open-label titration period, subsequent to which a double-blind, placebo-controlled cure period was initiated.

3/24/2017
Ticker Symbol NKTR
Last Price a/o 3:21 PM EST  $22.42
Average Volume 1.71M
Market Cap (mlns) $3.47B
Shares Outstanding (mlns) 154.59M
Share Float (mlns) 152.78M
Inside Ownership 0.70%
Short Float 5.95%
Short Interest Ratio 5.30
Quarterly Return 81.69%
YTD Return 82.72%
Year Return 76.40%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.

Author: Monica Gray

Monica has an undergraduate degree in Accounting and an MBA she earned - with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

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