Nektar Therapeutics (NASDAQ:NKTR) shares are surging over 20 percent in pre-market trading after the company revealed positive results from its trial of opioid pain medication. The company disclosed that its SUMMIT-07 final stage trial of NKTR-181 has met primary and secondary endpoints. The drug candidate is meant to treat potent pain without the high levels of euphoria, which could lead to addition and abuse with standard opioids.
Nektar indicated that the FDA has granted the investigational medicine fast tract designation for the treatment of moderate to severe chronic pain. The company revealed that NKTR-191 is a transformational pain medicine, which could fundamentally change the way the patients are treated with chronic paint conditions. It would present complete data during a medical meeting in the second half of the current year.
Nektar president and CEO, Howard Robin, commented, “As a new molecule, NKTR-181 has a highly differentiated profile with the potential to be one of the most important advancements in pain medicine. Given the seriousness of the current opioid epidemic in the U.S. and the significant number of people battling chronic pain, we are committed to bringing this new molecule to patients and physicians as quickly as possible.”
At time of writing this, the stock jumped 22.58 percent.