12 Best Penny Stocks to Invest in According to the Media

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6. Nektar Therapeutics (NASDAQ:NKTR)

Share Price (As of January 3): $1.10

Number of Hedge Fund Holders: 20

Nektar Therapeutics (NASDAQ:NKTR) is a clinical-stage biotechnology firm. The company’s major focus is on the development of treatments that fight against immunological dysfunction in autoimmune and chronic inflammatory diseases. The company’s oncology segment is developing medicines based on targeting biological pathways to treat cancer patients.

Nektar Therapeutics’ (NASDAQ:NKTR) lead product candidate focused on immunology and inflammation, rezpegaldesleukin, is making significant progress in its clinical trials. The Phase 2 study of rezpegaldesleukin is underway with its top-line data results expected in the first half of 2025. The company’s lead oncology candidate, Nektar 255, has also shown promising results in treating radiation-induced lymphopenia patients.

In a strategic move, Nektar Therapeutics has liquidated its manufacturing facility to streamline operations and improve its financial position. The divestiture of its manufacturing facility will allow the company’s cash runway into Q4 of 2026. By the end of Q3 2024, the company had $249 million in cash and investments with zero debt.

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