Nektar Therapeutics Hit With Derivative Suit Over Drug Trial (1)

Nektar Therapeutics’ leadership misled investors about the outcome of trials for a cancer drug, resulting in breaches of fiduciary duties to the company, according to a Feb. 18 shareholder derivative suit.

The biopharmaceutical firm’s directors and officers didn’t tell shareholders about problems with the cancer drug NKTR-214 that it was developing, and improperly promoted some test results, the complaint filed in the U.S. District Court for the District of Delaware said.

Nektar specializes in immuno-oncology drugs that are intended to treat cancer by increasing the immune system’s ability to attack cancer cells, the complaint said.

The NKTR-214 drug was meant ...