Shares of Nektar Therapeutics (NASDAQ: NKTR), a biotech company that develops and licenses specialized medicines in the fields of cancer, chronic pain, and autoimmune diseases, surged higher by as much as 10% after releasing its first-quarter earnings results after the closing bell on Tuesday. As you can surmise by the reaction, Wall Street and investors liked what they heard.
The interesting aspect of Nektar’s earnings report is that it appears its actual results took a backseat to the hype surrounding upcoming data releases.