In a change of plans, Nektar spins out its opioid into a new biotech subsidiary as FDA PDUFA date looms

Nektar Therapeutics is spinning off a new biotech company and gifting it with their late-stage pain drug NKTR-181 just three months ahead of a revised PDUFA date. And they’ve recruited a former Merck exec to take the lead — marking a big shift from the licensing deal they had confidently been projecting.