Is there news on NKTR today causing the big drop?
John
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Incyte has poor phase 3 results and are down 20%. NKTR down in sympathy I guess.
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I’ve used the drop to buy some.
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The following this AM regarding NKTR.
“Incyte is down 19% premarket on robust volume after epacadostat failed to demonstrate a treatment benefit over Merck’s Keytruda alone in a Phase 3 melanoma study. The selling has engulfed competitor NewLink Genetics, down 40% premarket.”
As posted this is weighing on NKTR. I do not understand the link between epacadostat and NKTR 214.
In my very laymen’s understanding Incyte’s compound competed against Keytruda while 214 enhanced the effectiveness of Keytruda. I would appreciate the more informed bio science people to weigh in.
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Well one company has a drug called etirinotecan (nktr) and the other epacadostat (incy) but other than that, the similarities end.
But don’t laugh, a few years ago biotech investors got confused by ADMS and ADMP (one called adamis, and the other adamas). Don’t recall which direction it went but the news of one company was attributed to the other. A lot of $ misplaced by people on this one.
But NKTR is not a player in the IDO field. Probably more of a sympathetic move. Biotech has been getting hammered every other day lately.
Cosmid
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INCY drug an IDO inhibitor.
214 a CD122 agonist.
Different targets. Guilty by association? Market jitters / profit taking on a down day on a stock that has had a pretty good run over the last year?
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NKTR target raised to 103 from 89 at Mizuho. Epacadostat failure is positive for NKTR. They say the failure raises the chance of a takeout by BMY in the coming months.
Rob
So Rob, NKTR is my 5th biggest position. We’re I to buy more, what is that price? Right now it’s 92.59 down 8.88%.
With the market having extreme volatility and 50 dma at 93.04 has broken my extreme buy point would be about $78. Whether it gets there I can’t tell you. I did add a small bite at 93.16.
Rob
Thank you
NKTR target raised to 103 from 89 at Mizuho.
I can do you one better.
H.C. Wainwright resumed coverage of Nektar with a Buy rating and $125 price target today, as analyst Debjit Chattopadhyay writes that the company’s pipeline transformation looks complete and upcoming data could serve as further catalyst for the stock. However, that did little to arrest the stock’s slide.
https://www.barrons.com/articles/the-biggest-movers-humana-j…
Dominic
long NKTR