: Nektar stock drops more than 30% after study involving lupus treatment will not go forward


Shares of Nektar Therapeutics NKTR, -1.66% plunged more than 30% in the extended session Thursday after the biopharma company reported that a study did not meet goals and that partner Eli Lilly & Co. LLY, -0.47% decided not proceed with a phase-3 development of the investigational treatment, called REZPEG for short. The study looked at REZPEG for the treatment of severely active lupus in adults not responding to standard treatments. “Nektar and Lilly plan to work together to determine next steps for the planned Phase 2b study in atopic dermatitis,” Nektar said. Shares of Lilly edged 0.2% higher in after hours.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleThe Moneyist: ‘I feel very hurt’: My late wife’s parents cut me out of their will — and reduced my daughter’s inheritance. We’re being punished after I remarried. What do we do?
Next articleWhite House says nomination to fill Fed vacancy will come in ‘near future’


Please enter your comment!
Please enter your name here