NKTR Drug delivery Company Message Board

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Biotech / Medical : NKTR Drug delivery Company

NKTR 59.32

+2.3%

Nov 11 3:59 PM EST

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From: david nordic	12/7/2009 10:24:22 PM
	of 507

Nektar is finally turning around after Exubera failure. NKTR 102 (Pegylated Irinotecan)prelimary results due in Jan. Phase I/IIA results were positive. Plus NKTR 118/119 1.5B deal with AZN to start Phase III in 1H 2010. NKTR 061 to start Phase III 1H2010 with Bayer. maintains Outperform 7-Dec-09 03:10 pm Wedbush Maintains an 'Outperform' on Nektar Therapeutics (NKTR), Recent Marketing Trip Focused on Upcoming Ovarian Cancer Data Wedbush maintains an Outperform on Nektar Therapeutics (Nasdaq: NKTR), raises price target from $11 to $12. Wedbush analyst says, "Chief Medical Officer laid out irinotecan hurdles for soon-to-be released data. We continue to expect data by January for NKTR-102 for ovarian cancer, followed in ~2-3 months with breast cancer data in early 2010 (the ovarian trial enrolled faster than expected). Of the potential indications, we view ovarian as the hardest target. The data is a single-agent one-arm study measuring preliminary response rate in platinum resistant cancer patients. We anticipate this data will be followed by more complete data in 2010 including progression free survival (as a secondary endpoint)...The read through of the data may be clouded with “what results are good enough”...If favorable, next steps would likely include a partnership. The potential Phase III program would be a head-to-head study against either Doxil or Hycamtin. We would think the size of the trial would be in the 300-500 patient range. Our sense is that there is a good amount of interest in NKTR-102 from a partnering perspective and that if positive a deal will follow before the drug moves into Phase III...NKTR now expects to end the year with $390-$400MM in cash (which gets them towards the end of 2012), removing concerns that the company might have to do a financing (unless they decide to take a candidate into Phase III themselves which is not the intent right now). We think further near-term upside from here will be driven by NKTR-102 data. While we think the signing of the recent AstraZeneca (NYSE: AZN) deal signals that NKTR is not in play as a takeout target, we think the robustness of the partnership demonstrates management’s ability to leverage NKTR’s other programs into sizeable collaborations which is the basis for our increased price target along with our favorable bias towards the upcoming data."

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