Ex-Ker­ris­dale an­a­lyst sets out to tor­pe­do Nek­tar with a blunt short at­tack on star drug NK­TR-214: 'It doesn’t work'

Nek­tar Ther­a­peu­tics’ pe­gy­la­tion strat­e­gy on IL-2 promised to re­solve one of the thorni­est hur­dles in can­cer R&D, in­spir­ing a record $1.85 bil­lion deal by a group of can­cer re­search spe­cial­ists at Bris­tol-My­ers Squibb who were in­tense­ly ex­cit­ed by NK­TR-214 and the prospect of ad­vanc­ing a killer ap­proach to check­point com­bos.

But an an­a­lyst who’s played a key role be­hind some of the most ef­fec­tive short at­tacks in biotech in re­cent years has just fired a tor­pe­do at the moth­er ship, hop­ing to per­suade in­vestors that NK­TR-214 — one of the most close­ly fol­lowed can­cer drugs now in the clin­ic — is ab­solute­ly worth­less.

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