Nektar Therapeutics shook off a proposed securities class action, for now, over its flagship cancer-therapy drug, after the Northern District of California found the complaint didn’t show any false or misleading company statements.
The shareholders alleged the company made statements exaggerating the results of clinical trials for NKTR-214, inflating the company stock. The price later fell when Plainview LLC published a report contradicting the results.
The investors cited a Jan. 10, 2017, presentation on the results of the drug in a Phase I clinical trial, where Nektar asserted that cancer-fighting cells increased by an average of 30-fold in tumors of ...
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