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Fly News Breaks for February 19, 2019
NKTR
Feb 19, 2019 | 05:07 EDT
Compared to the American Society of Clinical Oncology Genitourinary Cancers Symposium abstract a week ago, Nektar Therapeutics' poster presentation Friday evening reported a similar response and disease control rate with the NKTR-214 plus nivolumab combination that is "still meaningfully higher than what is observed with checkpoint monotherapy," Piper Jaffray analyst Tyler Van Buren tells investors in a research note. The response rate was indistinguishable between PDL1 positive and negative patients and the 19% complete response rate "was encouraging relative to the 5-9% observed with checkpoints," adds the analyst. He believes these data will ultimately support advancement into pivotal bladder cancer trials and models $800M of U.S. NKTR-214 sales in bladder cancer by 2025. Van Buren has an Overweight rating on Nektar with a $125 price target.
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