Mark Andrew Wilson, Chief Legal Officer at Nectar treatments (NASDAQ:), recently sold shares of the company's common stock. According to a Form 4 filed with the SEC, Wilson sold 33,402 shares on December 23 at an average price of about $0.90 per share, and an additional 16,560 shares on December 24 at an average price of about $0.89 per share. The total value of these transactions amounted to $44,800. The stock, currently trading at $0.95, has shown remarkable resilience with gains of 85% over the past year, according to InvestingPro Data.
Following these transactions, Wilson now owns 335,332 shares of Nektar Therapeutics. The sales were made to cover required tax withholding obligations related to the vesting of restricted stock units (RSUs), as stated 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 over 10 additional key insights and a comprehensive professional research report for a 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 Ampersand subsidiary. Capital Partners (wa:). This transaction is consistent with Nektar's strategic initiatives to streamline operations and focus on the core pharmaceutical industry. Financial terms of the deal were not disclosed, but the sale of the facility represents a significant change in Nektar's asset portfolio.
In addition to the asset sale, Nektar announced significant progress during its third-quarter 2024 earnings call. The company expects year-end cash and investments to increase to about $265 million, and full-year revenue between $90 million and $95 million. Despite reporting a net loss of $37 million for the third quarter, the sale of the manufacturing facility is expected to generate a gain of approximately $40 million to $45 million.
Finally, Nektar's lead asset, rezpegaldesleukin (REZPEG), which targets autoimmune disorders, is undergoing phase 2 studies with high-level data expected in 2025. Nektar's NKTR-165 and NKTR-422 programs are also progressing, targeting multiple sclerosis Autoimmune diseases and cancer. Promote the resolution of inflammation and tissue repair. These developments demonstrate Nektar Therapeutics' commitment to advancing its immuno-oncology pipeline.
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