Nektar Therapeutics Inc. and PureTech Health plc ended talks of a business combination, the companies said Tuesday, because media speculation implied a deal was further along than it was.
Shares of San Francisco-based Nektar closed up Tuesday to $3.555, a mild 6% bump from the middle of last week when whispers of a deal emerged. In that same period, PureTech saw its stock fluctuate from $25.05 last Wednesday to a high of $36.02 Thursday and a low of $23.50 Friday before closing today at $24.01.
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Nektar, PureTech Health pull plug on merger talks - San Francisco Business TimesNektar cut about 500 jobs and decided to sublease 200,000 square feet in San Francisco after a promising cancer drug failed clinical trials earlier this year.
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