The chief legal officer of Nektar Therapeutics is selling $44,800 worth of stock to Investing.com
Mark Andrew Wilson, Chief Legal Officer at Nektar Therapeutics (NASDAQ:), 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 Dec. 23 at an average price of approximately $0.90 per share, and an additional 16,560 shares on Dec. 24 at an average price of approximately $0.89 per share. The total value of these transactions was $44,800. The stock, which is currently trading at $0.95, has shown remarkable resilience, up 85% over the past year, according to InvestingPro data.
Following these transactions, Wilson now owns 335,332 shares of Nektar Therapeutics stock. The sale was made to cover the required withholding tax obligations related to the vesting of restricted stock units (RSUs), as stated in the filing. With a market cap 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 a more in-depth 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 a subsidiary of Ampersand Capital Partners (WA:). The transaction is aligned with Nektar’s strategic initiatives to simplify operations and focus on its core pharmaceutical industry. Financial terms of the transaction were not disclosed, but the sale of the plant marks a significant change in Nektar’s property portfolio.
In addition to the asset sale, Nektar reported significant progress during its Q3 2024 Earnings Call. The company expects to increase year-end cash and investments to about $265 million and annual revenue between $90 million and $95 million. Despite reporting a net loss of $37 million for the third quarter, the sale of the manufacturing plant is expected to generate a gain of approximately $40 million to $45 million.
Finally, Nektar’s lead agent, respegaldesleukin (REZPEG), targeting autoimmune disorders, is undergoing Phase 2 studies with peak data expected in 2025. Nektar’s NKTR-165 and NKTR-422 programs are also advancing, targeting multiple sclerosis, autoimmune diseases and promoting resolution of inflammation and tissue regeneration. These developments demonstrate Nektar Therapeutics’ commitment to advancing its immuno-oncology pipeline.
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