- Pure Tech Health plc PRTC confirmed it’s in conversations about a possible connection with Nectar Therapeutics NKTR.
- In April, Nektar Therapeutics announced a new strategic plan to prioritize key research and development efforts and to shed 70% of its workforce, including several changes in his leadership team.
- nectar and Bristol Myers Squibb Co BMY jointly decided to terminate the global clinical development program for bempegaldesleukin thereafter disappointing studies on renal cell carcinoma and bladder cancer.
- In response to speculation in the press, PureTech said it has exchanged indicative, non-binding proposals with Nektar Therapeutics regarding a possible combination that could include an offer for PureTech’s share capital.
- “PureTech and Nektar continue to have discussions about the proposal. There can be no assurance that a firm offer will be made, nor as to the terms of any such offer. A further announcement will be made as needed,” the company said.
- Nektar has until November 3 to make a formal offer.
- Price promotion: PRTC shares are down 20.03% to $24.80 and NKTR shares are down 1.03% to $3.34 on the most recent check Friday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
