Mark Andrew Wilson, the Chief Legal Officer at Nektar Therapeutics (NASDAQ:NKTR), recently sold shares of the company's common stock. According to a Form 4 filing with the Securities and Exchange Commission, Wilson sold 33,402 shares on December 23 at an average price of approximately $0.90 per share, and an additional 16,560 shares on December 24 at an average price of roughly $0.89 per share. The total value of these transactions amounted to $44,800. The stock, which currently trades at $0.95, has shown remarkable resilience with an 85% gain over the past year, according to InvestingPro data.
Following these transactions, Wilson now holds 335,332 shares of Nektar Therapeutics. The sales were conducted to cover required tax withholding obligations related to the vesting of restricted stock units (RSUs), as noted in the filing. With a market capitalization of $175.4 million, Nektar maintains strong liquidity with a current ratio of 4.24. InvestingPro subscribers can access 10+ additional key insights and a comprehensive Pro Research Report for deeper analysis of NKTR's financial health and future prospects.
In other recent news, Nektar Therapeutics has completed the sale of its manufacturing facility and related assets in Huntsville, Alabama to an affiliate of Ampersand Capital Partners (WA:CPAP). The transaction aligns with Nektar's strategic initiatives to streamline operations and focus on its core pharmaceutical preparations industry. The financial terms of the transaction were undisclosed, but the sale of the facility marks a notable change in Nektar's asset portfolio.
In addition to the asset sale, Nektar reported significant progress during its Third Quarter 2024 Earnings Call. The company anticipates a year-end increase in cash and investments to about $265 million, and full-year revenue between $90 million and $95 million. Despite reporting a net loss of $37 million for Q3, the sale of the manufacturing facility is expected to yield a gain of approximately $40 million to $45 million.
Finally, Nektar's leading asset, rezpegaldesleukin (REZPEG), targeting autoimmune disorders, is undergoing Phase 2 studies with top-line data expected in 2025. Nektar's NKTR-165 and NKTR-422 programs are also progressing, targeting multiple sclerosis, autoimmune diseases, and enhancing inflammation resolution and tissue repair. These developments demonstrate Nektar Therapeutics' commitment to advancing its immuno-oncology pipeline.
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