Nektar Therapeutics [sL nktr] shares fell in the extended session Tuesday following a report that a Food and Drug Administration advisory panel voted against recommending one of the drug maker's painkillers for approval. Nektar shares dropped 14.5% after hours, following a 2% rise in the regular session to close at $27.96. At a joint meeting of the FDA's Anesthetic and Analgesic Drug Products Advisory Committee and the Drug Safety and Risk Management Advisory Committee, members of the committees voted 27-0 against recommending approval for Nektar's NKTR-181 drug to treat lower back pain on the grounds it could be easily abused, Reuters reported late Tuesday (https://www.reuters.com/article/us-nektar-fda/u-s-fda-panel-votes-against-approval-for-nektars-opioid-painkiller-idUSKBN1ZD2QF). The FDA is not bound by the recommendations of its panels but generally follows their recommendations.
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