Max Nisen, Columnist

Nektar Gets a Payday But No Mega-Buyout

The biotech's surge in valuation has a downside for investors.

February 14, 2018 at 4:56 PM UTC

Max Nisen is a healthcare analyst at Bloomberg Intelligence. He previously wrote for Bloomberg Opinion, Quartz and Business Insider.

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Investors love it when a company's value booms, but they may not always love the consequences.

Take San Francisco biotech Nektar Therapeutics. Its market cap soared to $14 billion earlier this month, from about $2 billion a year ago, driven partly by tantalizing early trial results for a combination of its lead medicine with Bristol-Myers Squibb & Co.'s blockbuster cancer drug Opdivo.