Investigation Overview
September 30, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Nektar Therapeutics (NASDAQ:NKTR) shares over potential securities laws violations by Nektar Therapeutics and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Nektar Therapeutics (NASDAQ:NKTR) concerning whether a series of statements Nektar Therapeutics regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Nektar Therapeutics reported that its annual Total Revenue rose from $71.48 million in 2011 to $81.19 million in 2012 and that its respective Net Loss increased from $133.98 million to $171.85 million.
Shares of Nektar Therapeutics (NASDAQ:NKTR) increased from $4.23 per share in November 2011 to as high as $14.40 per share on Sept. 20, 2013.
Then on Sept. 27, 2013, Nektar Therapeutics announced its preliminary topline results from Phase 2 Efficacy Study for NKTR-181 in Chronic Pain Patients with Osteoarthritis of the Knee. ' Chief Medical Officer of CRI Lifetree Dr. Lynn Webster said that they are experiencing a major public health problem with prescription opioids in this country, and that they need to find new ways to address this problem'.
Shares of Nektar Therapeutics (NASDAQ:NKTR) declined from $14.16 per share on Sept. 26, 2013, to as low as $10.175 per share on Sept. 27, 2013.
On Sept. 30, 2013, NASDAQ:NKTR shares closed at $10.44 per share