Why Nektar Therapeutics Shares Delivered a Stupendous 124% in November

After the company updated the timeline for filing its pain-relieving drug for approval from the Food and Drug Administration, and presented early-stage study results for its solid-tumor cancer drug at the 2017 Society for Immunotherapy of Cancer (SITC) annual meeting, Nektar Therapeutics' (NASDAQ: NKTR) shares skyrocketed 124% in November, according to S&P Global Market Intelligence.

On Nov. 7, Nektar Therapeutics reported third-quarter financial results that were bolstered by a $150 million up-front payment from Eli Lilly relating to their partnership on NKTR-358, a pre-clinical-stage autoimmune-disease therapy. The company recognized $128 million of that payment, so revenue grew to $152.9 million from $36.3 million in third-quarter 2016. Operating costs were $83.4 million, up from $69.2 million year over year, and cash and investments finished the quarter at $412.2 million.

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Source: Fool.com