Potential misinformation on NKTR ASCO Report from endpts.com article:
Down ~9% this morning.
From Stocktwits:
mrktnws101May 17th, 9:18 am
$NKTR The reason for the price drop: “Nektar sees a big erosion in response rates for closely-watched I/O star NKTR-214”
BUT —>
Real_Men_of_GeniusMay 17th, 9:32 am
$NKTR Data cut off for ASCO Feb. but NKTR reported improvements at March conference some point out ASCO data worse than March’s data
just out on SA… since there are hard numbers here would think that nothing was cut off from the release?
Nektar down 9% on release of Phase 1/2 data on NKTR-214
May 17, 2018 9:55 AM ET|About: Nektar Therapeutics (NKTR)|By: Douglas W. House, SA News Editor
Nektar Therapeutics (NKTR -9%) is down in light volume in early trade in response to the release of abstracts for ASCO that included updated data from the Phase 1/2 PIVOT study evaluating NKTR-214 + Bristol-Myers Squibb’s Opdivo (nivolumab) in patients with advanced solid tumors.
Investors appear disappointed with the melanoma results. The overall response rate (ORR) in 23 patients was 52% (n=12/23) while the disease control rate (DCR) (responders + those with stable cancer) was 78% (n=18/23). The ORR for Opdivo alone in the CHECKMATE-066 study (BRAF V600 wild-type) was 34% while the DCR was 82%.
I found the abstract… FWIW it does seem to say results as of Feb 7, which seems to agree with that stocktwits poster that said that data is from before the update given at conference call.
I found the abstract… FWIW it does seem to say results as of Feb 7, which seems to agree with that stocktwits poster that said that data is from before the update given at conference call.
Interesting.
Something that someone here or on the NPI board should be able to sniff out with some level of definitiveness…could present a buying opportunity if older data is being misinterpreted as being newer.
Vol, I really am not doing more than the above and closing off stock contact for rest of the day.
But I believe the above post is the reason for the higher than normal, but in the scheme of things, low volume drop today, and the reason is the specific numbers in the melanoma release. And as I explain in the linked post above, it is an utter logical fallacy. That in fact the numbers are EXACTLY as NKTR wanted the (as there was an increase in more than 50% of patients who actually responded vs. Opdivo alone).
The figure about early responders indicates the 78% disease control rate will also only get better.
Anyways, I think along with your excellent catch, my post linked above puts into context the issue.
Now I am closing browser windows unrelated to what I need to do today.
volfan, you are correct. This is not news. Just another market overreaction to old information. Was a great opportunity to pick up shares. I missed it or I might’ve added a little.