Nektar Therapeutics (NASDAQ:NKTR) is up 19% premarket on increased volume in response to its announcement of positive results from a Phase 3 clinical trial, SUMMIT-07, evaluating opioid analgesic candidate NKTR-181 for the treatment of patients with chronic low back pain. The trial met its primary endpoint of showing statistically valid improved pain relief compared to placebo (p=0.0019). Secondary endpoints were also met.
The company says Fast Track-tagged NKTR-181, a full mu-opioid agonist molecule, is designed to provided potent pain relief without the high levels of euphoria that can lead to abuse and addiction. In a human abuse potential study the highest analgesic dose of NKTR-181 was barely distinguishable from placebo in terms of drug-liking and euphoria.
Management will host a conference call at 8:45 am ET to discuss the results.