Nektar gains; jury finds Lilly breached contract in drug partnership dispute
BUZZ-Nektar gains; jury finds Lilly breached contract in drug partnership dispute ** Shares of drug developer Nektar Therapeutics NKTR.O rise 4% to $61.80 premarket
** A US jury found that Eli Lilly LLY.N breached its contractual obligations to Nektar Therapeutics in their former collaboration on drug rezpegaldesleukin, a regulatory filing showed
** The jury awarded Nektar $90 million in damages, plus interest that will be determined later by the judge
** The verdict remains subject to post-trial proceedings and possible appeal
** Rezpegaldesleukin is an experimental drug being developed by Nektar for inflammatory skin disorders and the lead drug program for Nektar
** Eli Lilly was previously a development partner before ending the collaboration in 2023
** As of last close, NKTR stock was up 40% YTD
(Reporting by Padmanabhan Ananthan)
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