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Nektar Therapeutics stock rises on $90M jury verdict vs Lilly

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September 25, 2026 9:48 AM EDT

Investing.com -- Nektar Therapeutics (NASDAQ: NKTR) shares rose 3.6% in premarket trading Friday following a jury verdict awarding the company $90 million in damages in a contract dispute with Eli Lilly and Company (NYSE: LLY).

The stock gained after a jury found that Lilly breached the implied covenant of good faith and fair dealing in a license agreement governing the companies' prior collaboration for the development and commercialization of rezpegaldesleukin.

According to an 8-K filing, the jury returned its verdict on Wednesday after a trial that began on September 8 in the U.S. District Court for the Northern District of California. The jury awarded Nektar $90 million in damages plus interest to be determined by the court.

Nektar filed the complaint against Lilly in August 2023, alleging breach of contract and breach of the implied covenant of good faith and fair dealing related to the license agreement.

The jury's verdict remains subject to post-trial proceedings, and any resulting judgment may be subject to appeal, the company stated in the filing.

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