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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.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 9980
View original content:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-nektar-therapeutics----nktr-300993105.html
SOURCE Pomerantz LLP
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