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Nektar to cut 500 jobs, sublease some Bay Area space after clinical trial failures

Nektar Therapeutics Inc. will cut about 500 jobs and sublease some of its nearly 200,000 square feet of San Francisco office and R&D space following clinical trial failures and the end of its cancer-fighting program with Bristol-Myers Squibb Co. The San Francisco-based company (NASDAQ: NKTR) also said it will close and sell its 88,000-square-foot research and development facility in Hyderabad, India, and end its collaboration with SFJ Pharmaceuticals Inc. of Pleasanton. The SFJ program centered on using the Nektar drug bempegaldesleukin, or "bempeg," against head and neck cancer. Bempeg most notably failed multiple cancer trials in combination with Opdivo […]

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