We are investigating Nektar Therapeutics (NKTR) (“Nektar” or the “Company”) for potential violations of the federal securities laws.
On January 14, 2020, a joint advisory panel for the Food and Drug Administration (“FDA”) unanimously voted not to approve Nektar’s opioid medication, oxycodegol, for chronic lower back pain, concluding that the drug’s risks outweighed its benefits. Following the FDA panel’s ruling, Nektar announced that the Company was withdrawing its New Drug Application for oxycodegol and discontinuing the drug’s development. On these disclosures, Nektar’s stock price fell $4.47 per share, or 15.99%, to close at $23.49 per share on January 15, 2020.