LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a global investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired Nektar Therapeutics, Inc. (“Nektar” or the “Company”) (NASDAQ: NKTR) securities between November 11, 2017, and October 2, 2018, inclusive (the ''Class Period''). Nektar investors have until December 31, 2018 to file a lead plaintiff motion.
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On October 1, 2018, a report was published by Plainview LLC alleged that Nektar’s plan to develop NKTR-214 into “a new universal cancer treatment” “has never worked in practice,” and further argued that Nektar’s choice to only disclose certain trial results represented “an unprecedented level of data opacity.” On this news, Nektar’s share price fell, $5.63 per share, or 9.24%, over the following two trading sessions, closing at $55.33 per share on October 2, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) prior studies which attempted to pegylate IL-2 failed; (ii) NKTR-214's extended half-life was unlikely to result in efficacy and created additional high-dosing safety concerns; (iii) NKTR-214 was less effective than IL-2 alone; (iv) the combination of NKTR-214 with nivolumab has not yet demonstrated significant positive results; and (v) as a result, Nektar's public statements as set forth above were materially false and misleading at all relevant times.
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If you purchased shares of Nektar during the Class Period you may move the Court no later than December 31, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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