PRTC - PureTech Health plunges 21% after confirming proposal from Nektar Therapeutics

• PureTech Health ( NASDAQ: PRTC ) dropped 20% in premarket trading after it confirmed receiving a non-binding proposal from Nektar Therapeutics ( NASDAQ: NKTR ) to combine.
• PureTech and Nektar remain in discussions regarding the proposal, according to 6-K filing. There can be no certainty that any firm offer will be made, nor as to the terms of any such offer. A further announcement will be made as and when appropriate.
• The disclosure comes after PureTech ( PRTC ) jumped 19% on Thursday on a Betaville report about speculation that the company may be a takeover target.
• PureTech ( PRTC ) has a market cap of more than $800 million, while Nektar ( NKTR ) is valued at $630 million.
• In August Nektar ( NKTR ) was downgraded at JPMorgan citing setup after end to anti-cancer program.

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