Biotechnology company Nektar Therapeutics Inc. said Monday it will expand its mid-stage trials for its cancer drug NKTR-102 to include advanced colorectal, ovarian and advanced breast cancers.
The company said the studies will begin in the second half of the year.
Nektar said the second-line colorectal cancer program will target patients with a mutated gene found in up to 45 percent of cases. According to the company, current colorectal treatments such as Bristol-Myers Squibb/ImClone's Erbitux do not work on patients with the mutated gene.
Nektar also plans NKTR-102 programs in ovarian and breast cancer patients who do not respond to currently available therapies.
Shares of Nektar rose 22 cents, or 4.9 percent, to $4.68. Over the past 52 weeks, the stock has ranged between $4.21 and $11.55, and is down 33 percent since the start of the year.
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