Fly News Breaks for January 10, 2020
Jan 10, 2020 | 10:09 EDT
Mizuho analyst Difei Yang views the FDA's briefing documents today on NKTR-181 ahead of the anticipated January 14 panel meeting as "more negative than positive." The FDA notes that "NKTR-181 demonstrates an oral abuse potential comparable to oxycodone following oral administration," the analyst points out. Yang, however, does not expect NKTR-181 or the outcome of the panel meeting to have a meaningful impact on Nektar shares. The value of Nektar will continue to be driven by clinical development of NKTR-214, the analyst tells investors in a research note. She reiterates a Neutral rating on Nektar with a $21 price target. The stock is up 12% to $24.16 in morning trading.
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