Biotech company Nektar Therapeutics (NASDAQ: NKTR) reported its quarterly earnings, resulting in a 6% increase in its stock price. Revenue for the second quarter was just under $11.2 million, with a net loss of slightly over $39 million. The company’s cash and investments totaled almost $176 million at the end of the quarter. Nektar received Fast Track designation from the FDA for its drug targeting alopecia areata. Analysts had projected lower revenue and a smaller net loss for the company.

Read more at Yahoo Finance: Why Nektar Therapeutics Stock Popped 6% on Friday