Nektar Therapeutics (NASDAQ:NKTR) is trading significantly lower Monday morning after the company's Phase 3 PIVOT trial, in combination with Bristol-Myers Squibb Co (NYSE:BMY), did not meet its primary endpoint.
Following a review of the study for efficacy and safety by an independent Data Monitoring Committee, Nektar was informed that the study did not meet the primary endpoints of progression-free survival and objective response rate. Furthermore, the third primary endpoint of overall survival did not meet statistical significance at the first interim analysis.
