Nektar gains; jury finds Lilly breached contract in drug partnership dispute

By Reuters News

** Shares of drug developer Nektar Therapeutics NKTR.O rise 4% to $61.80 premarket

** A US jury found that Eli Lilly LLY.N breached its contractual obligations to Nektar Therapeutics in their former collaboration on drug rezpegaldesleukin, a regulatory filing showed

** The jury awarded Nektar $90 million in damages, plus interest that will be determined later by the judge

** The verdict remains subject to post-trial proceedings and possible appeal

** Rezpegaldesleukin is an experimental drug being developed by Nektar for inflammatory skin disorders and the lead drug program for Nektar

** Eli Lilly was previously a development partner before ending the collaboration in 2023

** As of last close, NKTR stock was up 40% YTD

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