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Nektar Therapeutics Issues Statement Confirming That It Does Not Hold Any Cash Deposits or Securities at Silicon Valley Bank

Saturday, March 11, 2023 1 min read
Key Takeaway: Nektar Therapeutics has confirmed that it does not hold any cash deposits or securities at Silicon Valley Bank, following recent banking concerns. As of December 31, 2022, the company reported approximately $505 million in cash and investments. This statement reassures stakeholders about Nektar's financial stability and independence from the troubled bank. The company continues to focus on its robust research and development pipeline in oncology and immunology.

Market Sentiment Analysis

POSITIVE FACTORS

  • Nektar Therapeutics confirms no exposure to Silicon Valley Bank.
  • The company maintains a strong cash position of approximately $505 million.
  • Strategic focus on R&D in oncology and immunology.

Full Press Release Details

Nektar Therapeutics Issues Statement Confirming
That It Does Not Hold Any Cash Deposits or Securities at Silicon Valley Bank
SAN FRANCISCO, March 11, 2023 /PRNewswire/ -- Nektar Therapeutics (Nasdaq:
NKTR) today issued a statement confirming that it does not have any accounts at Silicon Valley Bank, and it does not hold any cash
deposits or securities at Silicon Valley Bank. At December 31, 2022, the company had approximately $505 million in cash and investments
in marketable securities.
About Nektar Therapeutics
Nektar Therapeutics is a biopharmaceutical company with a robust,
wholly owned R&D pipeline of investigational medicines in oncology and immunology as well as a portfolio of approved partnered medicines.
Nektar is headquartered in San Francisco, California, with additional operations in Huntsville, Alabama. Further information
about the company and its drug development programs and capabilities may be found online at http://www.nektar.com.

Frequently Asked Questions

Does Nektar Therapeutics have accounts at Silicon Valley Bank?

No, Nektar Therapeutics confirmed it does not have any accounts at Silicon Valley Bank.

What is Nektar Therapeutics' financial status?

As of December 31, 2022, Nektar had around $505 million in cash and marketable securities.

Where is Nektar Therapeutics headquartered?

Nektar Therapeutics is headquartered in San Francisco, California.

What areas does Nektar Therapeutics focus on?

Nektar specializes in oncology and immunology through its biopharmaceutical R&D pipeline.

Does Nektar Therapeutics have any partnered medicines?

Yes, Nektar has a portfolio of approved partnered medicines.

Tags: NKTR Viatris Investor Conferences Healthcare Nektar Therapeutics Silicon Valley Bank cash deposits investments biopharmaceuticals
Last updated: Mar 11, 2023