Nektar Therapeutics leaps on news of multi-million-dollar deal
US pharma major Eli Lilly (NYSE: LLY) has entered into a strategic collaboration to co-develop NKTR-358, a novel immunological therapy discovered by biotech firm Nektar Therapeutics(Nasdaq: NKTR), sending the latter’s share surging as much as 10% in pre-market trading today.
NKTR-358, which achieved first human dose in Phase I clinical development in March of 2017, has the potential to treat a number of autoimmune and other chronic inflammatory conditions.
Financial terms of the transaction
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