NEKTAR THERAPEUTICS RDI Initiates Coverage:
Nektar Therapeutics https://ub.rdinvesting.com/news/?ticker=NKTR
CytomX Therapeutics Inc. https://ub.rdinvesting.com/news/?ticker=CTMX
The company announced significant positive news from its current drug candidate, NKTR-181. The Phase 3 efficacy study of the drug NKTR-181, which is a first in its class of opioid analgesics indicated the new chemical entity (NCE) that is the first full mu-opioid drug was effective to provide potent pain relief to patients without the high levels of euphoria that a major contributor to drug abuse and addiction that accompany standard opioids. The company's stock rose $6.61 a share with significantly higher volume to close at $22.21, a decade high. After hours trading showed the stock price continuing to rise. With the granted fast-track designation of NKTR-181, investors are feeling bullish on prospect of improving bottom line, as the company management has indicated in the last conference call about their plan to out-license the drug to an established player and a company with long-term commitment in the pain market. In the ongoing battle against opioid abuse and addiction, the discovery and creation of an opioid pain killer that is safe and non-addictive is a major step in the war against the illegal distribution and sale of prescription drugs.
Access RDI's Nektar Therapeutics Research Report at: https://ub.rdinvesting.com/news/?ticker=NKTR
One way a small cap biotech firm can get a boost in stock price is by having the confidence of an established pharmaceutical company get behind it. That is exactly what happened to CytomX Therapeutics on Monday, as Bristol-Myers Squibb Company and CytomX announced their expansion of the 2014 strategic collaboration agreement. CytomX is in the process of discovering new therapies for cancer treatment. There are 8 other candidates that will be using CytomX's proprietary Probody platform. The stock rose $3.71 a share to close at $18.89 per share on Monday. It closed at $15.20 a share on Friday. Earlier this month on March 2nd, the company posted it 2016 full year financials, with a loss of $1.63 a share on a revenue of $15 million for the year 2016, as compared to loss of $4.9 a share on revenue of $7.7 million reported for the year 2015. The company had cash and cash equivalents along with short-term investments of $181.9 million and this the company expects is sufficient enough to sail throughout 2018 to fund its operations without any additional capital infusion.
Access RDI's CytomX Therapeutics Research Report at: https://ub.rdinvesting.com/news/?ticker=CTMX
Our Actionable Research on Nektar Therapeutics (NASDAQ: NKTR) and CytomX Therapeutics Inc. (NASDAQ: CTMX) can be downloaded free of charge at Research Driven Investing.
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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information, please read our full disclaimer at www.rdinvesting.com/disclaimer.
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