Tina Banerjee

Global Healthcare Analyst

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/puretech-health-plc" target="_blank" data-smartkarma-citation="entities:22096:1" rel="noopener">PureTech Health (PRTC LN)</a> has confirmed its possible merger with <a href="https://www.smartkarma.com/entities/nektar-therapeutics" target="_blank" data-smartkarma-citation="entities:15060:1" rel="noopener">Nektar Therapeutics (NKTR US)</a>. Uncertainty regarding the actual offer has caused volatility to PureTech shares.</li>
<li>Nektar will be required, by not later than November 3, 2022, to announce a firm intention to make an offer for the company.</li>
<li>Nektar faced a big setback in its lead pipeline assets and is going through tight financial condition. We are not expecting a lucrative takeover offer for PureTech.</li>
</ul>

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nektar-therapeutics" target="_blank" data-smartkarma-citation="entities:15060:1" rel="noopener">Nektar Therapeutics (NKTR US)</a> is a global biopharmaceutical company, with major focus on immune-oncology. Its lead candidate bempeg is the near-term growth engine for the company.</li>
<li>On December 6, Nektar presented favorable results for Bempeg plus Keytruda in patients with non-small-cell lung cancer. Bempeg is poised for getting approvals for multiple indications during 2023–2025.</li>
<li>Clinical trial progress of other late-stage programs remains long-term growth driver for Nektar. Buyout deal at a premium presents another upside opportunity for Nektar.</li>
</ul>

Brian Freitas

Pan-Asia Index Rebalances/Events/Delta One

<ul>
<li>Last week was busy towards the end with the implementation of the KOSPI200, KOSDAQ150, CSI300, STAR50, SSE50, SSE180 and SSE380 rebalances.</li>
<li>The coming week has the implementation of the FTSE All-World/All-Cap, FTSE EPRA Nareit, ASX100/200, Taiwan 50, China 50, China A50, KLCI and Sensex rebalances. All on the same day!</li>
<li>Over the week, there were inflows into China, Hong Kong and Australia focused ETFs, while there were outflows from Korea and Japan focused ETFs.</li>
</ul>

<ul>
<li>There are 3 stocks migrating from the S&amp;P500 to the S&amp;P400 and vice versa and another 3 stocks migrating from the S&amp;P600 to the S&amp;P400 and vice versa.</li>
<li>The impact of changes in the number of index shares for quite a few index constituents and the funding trade take the one-way trade size to US$18.5bn.</li>
<li>There appear to be pre-positions on some of the stocks. While the flow is large on many stocks, there are only a few that have over 2 days of ADV.</li>
</ul>

Joe Jasper

Technical Analyst

Vermilion Research

Technical and Quantitative Research

Technical Analysis

<p>Our base case continues to be for near-term consolidation while the market determines the implications of states’ reopening (i.e., the “wait-and-see” phase). Until this consolidation period resolves below support or above resistance we are maintaining a relatively neutral stance considering the wide range of outcomes. Many major indexes are testing logical resistance and until we see breakouts it is hard to get too bullish. In this report we highlight attractive stocks from a RS perspective.</p>

United States

No authorization provided.

Nektar Therapeutics is a clinical-stage biopharmaceutical company which develops a pipeline of drug candidates that utilize company platforms.  The Company's product pipeline is comprised of early to late stage drug candidates across a number of therapeutic areas including oncology, pain, anti-infectives, anti-viral and immunology.

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Nektar Therapeutics - NKTR US

PureTech Health (PRTC LN): Possible Combination with Nektar Is Just a Defensive Move

Puretech shares gained ~20% since my bullish insight on the company on May 31. Investors should book profit amid uncertainty regarding possibility...

Tina Banerjee