SAN FRANCISCO—Jonathan Zalevsky, Chief Research and Development Officer at Nektar Therapeutics (NASDAQ:), recently sold 51,115 shares of the company’s common stock. The transactions, carried out on December 19, 2024, were executed at an average price of $0.94 per share, totaling $48,048. The stock has shown remarkable strength this year, posting a 64% gain year-to-date and nearly doubling in value over the past 12 months.
The sale was made to cover tax withholding obligations related to the vesting of restricted stock units (RSUs) and was not a discretionary trade by Zalevsky. Following this transaction, he retains ownership of 326,904 shares in the company. According to InvestingPro analysis, the stock currently appears undervalued, with additional insights available through their comprehensive Pro Research Report.
Nektar Therapeutics, based in San Francisco, specializes in pharmaceutical preparations and is incorporated in Delaware. With a market capitalization of $170 million and a strong current ratio of 4.24, the company maintains robust liquidity despite ongoing operational challenges.
In other recent news, Nektar Therapeutics has finalized the sale of its Huntsville, Alabama manufacturing facility and related assets to an affiliate of Ampersand Capital Partners (WA:). This move aligns with Nektar’s strategic initiatives, allowing the company to streamline operations and focus on its core competencies in the pharmaceutical preparations industry. The financial terms of the transaction have not been disclosed, but the sale marks a notable change in Nektar’s asset portfolio.
Simultaneously, Nektar Therapeutics has reported significant progress in its Third Quarter 2024 Earnings Call. The company’s financial stability was enhanced through the strategic divestiture of the manufacturing facility, which extended its cash runway into the fourth quarter of 2026. With a strong cash position of $249 million, Nektar anticipates a year-end increase in cash and investments to about $265 million, and full-year revenue between $90 million and $95 million.
Nektar’s leading asset, rezpegaldesleukin (REZPEG), is undergoing Phase 2 studies with top-line data expected in 2025. However, Nektar reported a net loss of $37 million for Q3, while the sale of the manufacturing facility is expected to yield a gain of approximately $40 million to $45 million. These recent developments demonstrate Nektar Therapeutics’ commitment to advancing its immuno-oncology pipeline.
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