Brean Weighs In On Nektar ONZEALD Deal

Earlier Wednesday morning, Nektar Therapeutics

announced an agreement with Daiichi Sankyo Europe for their ONZEALD product. ONZEALD is an investigation drug therapy to treat patients with advanced breast cancer. As part of the deal, Nektar grants Daiichi exclusive rights to ONZEALD In EU for $20m upfront and potentially $60 million if commercial, regulatory milestones are met. Brean's Jonathan Aschoff released a note after hours Wednesday highlighting that FDA approval is not a possibility at the present time. However, the FDA reviewed Phase 3 trial design with a statistical analysis plan, and hinted at willingness to consider the data if a confirmatory trial is encouraging. Shares of Nektar Therapeutics did not move much after the close, staying flat after hours at $15.53/share.