Why Nektar Therapeutics Stock Plunged Today

Shares of Nektar Therapeutics (NASDAQ: NKTR) were plunging 19% as of 3:53 p.m. EDT on Friday. The big drop came after the company announced its third-quarter results following the market close on Thursday.

Nektar posted a net loss in the third quarter of $129.7 million, or $0.70 per share. This result was better than the average analysts' estimate of a Q3 loss of $0.80. However, the company's revenue of $24.9 million fell short of the consensus estimate of $27.9 million. The revenue figure also declined 17% year over year.

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Source Fool.com