NEKTAR THERAPEUTICS
Business
NEKTAR THERAPEUTICS is a clinical-stage, research-based biopharmaceutical company that discovers and develops immunomodulatory medicines in the field of immunotherapy. It develops drug candidates and platform technologies, including rezpegaldesleukin (IL-2 targeted for autoimmune/inflammatory diseases), NKTR-0165 (TNFR2 agonist), NKTR-255 (IL-15 pathway oncology biologic), and preclinical PEGylated programs such as NKTR-422 and NKTR-288. Its operations are organized around discovery research and drug development, collaboration and licensing arrangements, and use of contract manufacturing and investigator-sponsored studies. It conducts clinical trials and regulatory activities in the U.S. and internationally and pursues partnerships, collaborations and third-party manufacturing for development and potential commercialization.
Summary from filing dated 2025-03-14
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenue | 55 | 98 | 90 | 92 | 102 | |
| Cost of goods sold | 0 | 31 | 34 | 22 | 25 | |
| Research and development (including $2,636 and $277 for the year ended December 31, 2025 and 2024, respectively, from a related party) | 117 | 121 | 114 | 218 | 400 | |
| General and administrative | 69 | 77 | 77 | 92 | 123 | |
| Restructuring and impairment | 9 | 16 | 52 | 136 | 0 | |
| Gain on sale of the Huntsville manufacturing facility | 0 | −40 | 0 | — | — | |
| Total operating costs and expenses | 195 | 204 | 354 | 468 | 548 | |
| Loss from operations | −140 | −105 | −264 | −376 | −446 | |
| Non-cash interest expense on liabilities related to the sales of future royalties | −26 | −28 | −25 | −29 | −47 | |
| Interest income | 10 | 15 | 19 | 7 | 3 | |
| Other income (expense), net (including $1,110 and $0 for the year ended December 31, 2025 and 2024, respectively, from a related party) | 361,000 | −390,000 | −6 | −116,000 | −162,000 | |
| Total non-operating income (expense), net | −15 | −14 | −13 | 11 | −77 | |
| Loss before benefit for income taxes and equity method investment | −155 | −119 | — | — | — | |
| Benefit for income taxes | −138,000 | −239,000 | −200,000 | 3 | 557,000 | |
| Loss before equity method investment | −155 | −119 | — | — | — | |
| Loss from equity method investment | −9 | 0 | — | — | — | |
| Net loss | −164 | −119 | −276 | −368 | −524 | |
| Basic net loss per share (in dollars per share) | −9.73 | −8.68 | −1.45 | −1.97 | −2.86 | |
| Diluted net loss per share (in dollars per share) | −9.73 | −8.68 | −1.45 | −1.97 | −2.86 | |
| Weighted average shares outstanding used in computing basic net loss per share (in shares) | 17 | 14 | 190 | 187 | 183 | |
| Weighted average shares outstanding used in computing diluted net loss per share (in shares) | 17 | 14 | 190 | 187 | 183 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 15 | 44 | 35 | 88 | 25 | |
| Short-term investments | 231 | 211 | 268 | 417 | 709 | |
| Other current assets (including $429 and $0 as of December 31, 2025 and 2024, respectively, from a related party) | 21 | 6 | 10 | 16 | 23 | |
| Total current assets | 266 | 261 | 331 | 546 | 796 | |
| Long-term investments | 0 | 14 | 26 | 0 | 65 | |
| Property, plant and equipment, net | 2 | 3 | 19 | 32 | 61 | |
| Operating lease right-of-use assets | 3 | 8 | 18 | 53 | 117 | |
| Equity method investment in Gannet BioChem | 3 | 12 | — | — | — | |
| Other assets | 6 | 5 | 5 | 2 | 3 | |
| Total assets | 280 | 304 | 398 | 711 | 1,117 | |
| Accounts payable (including $137 and $0 as of December 31, 2025 and 2024, respectively, to a related party) | 11 | 12 | 10 | 13 | 10 | |
| Accrued expenses (including $994 and $3,403 as of December 31, 2025 and 2024, respectively, to a related party) | 22 | 30 | 22 | 37 | — | |
| Operating lease liabilities, current portion | 20 | 20 | 19 | 19 | 17 | |
| Total current liabilities | 54 | 61 | 51 | 68 | 85 | |
| Operating lease liabilities, less current portion | 65 | 83 | 99 | 113 | 126 | |
| Liabilities related to the sales of future royalties, net | 63 | 92 | 113 | 155 | 195 | |
| Other long-term liabilities | 9 | 7 | 5 | 8 | 4 | |
| Total liabilities | 191 | 243 | 267 | 344 | 438 | |
| Commitments and contingencies | — | — | — | — | — | |
| Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares designated or outstanding at December 31, 2025 or 2024, respectively | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.0001 par value; 390,000,000 shares and 300,000,000 shares authorized at December 31, 2025 and 2024, respectively; 20,378,832 shares and 12,937,308 shares issued at December 31, 2025 and 2024, respectively; 20,378,832 shares and 12,385,001 shares outstanding at December 31, 2025 and December 31, 2024, respectively | 2,000 | 1,000 | 19,000 | 19,000 | 19,000 | |
| Capital in excess of par value | 3,850 | 3,660 | 3,608 | 3,575 | 3,517 | |
| Treasury stock, at cost; 0 shares and 552,307 shares as of December 31, 2025 and 2024, respectively | — | −3 | — | — | — | |
| Accumulated other comprehensive income (loss) | 17,000 | 61,000 | 80,000 | −7 | −4 | |
| Accumulated deficit | −3,760 | −3,596 | −3,477 | −3,201 | −2,833 | |
| Total stockholders equity | 90 | 61 | 131 | 367 | 680 | |
| Total liabilities and stockholders equity | 280 | 304 | 398 | 711 | 1,117 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −164 | −119 | −276 | −368 | −524 | |
| Non-cash royalty revenue related to the sales of future royalties | −55 | −64 | −69 | −70 | −78 | |
| Stock-based compensation | 13 | 22 | 33 | 57 | 95 | |
| Depreciation and amortization | 1 | 4 | 8 | 13 | 14 | |
| Impairment of right-of-use assets and property, plant and equipment | 4 | 8 | 35 | 66 | 0 | |
| Provision for net realizable value of inventory | 0 | 949,000 | 2 | 0 | 0 | |
| Amortization of premiums (discounts), net | −6 | −9 | −15 | — | — | |
| Accounts receivable | 0 | −3 | 5 | 17 | 12 | |
| Inventory | 0 | 497,000 | 699,000 | −3 | −509,000 | |
| Operating leases, net | −15 | −13 | −9 | −3 | 2 | |
| Other assets | −15 | −4 | 4 | 7 | −3 | |
| Accounts payable | −625,000 | 3 | −3 | 3 | −12 | |
| Accrued expenses | −6 | 11 | −17 | −13 | −24 | |
| Net cash used in operating activities | −209 | −176 | −193 | −304 | −413 | |
| Purchases of investments | −285 | −262 | −512 | −468 | −961 | |
| Maturities of investments | 285 | 340 | 651 | 826 | 1,167 | |
| Proceeds (payments) relating to the sale of the Huntsville manufacturing facility, net | −697,000 | 65 | — | — | — | |
| Purchases of property, plant and equipment | −171,000 | −1 | −865,000 | −6 | −15 | |
| Net cash provided by (used in) investing activities | −1 | 143 | 140 | 366 | 203 | |
| Proceeds from issuance of TCG pre-funded warrant | 0 | 30 | 0 | — | — | |
| Proceeds from sale of future royalties | 0 | 15 | 0 | — | — | |
| Repurchase of common stock from Bristol-Myers Squibb | 0 | −3 | 0 | — | — | |
| Proceeds from shares issued under equity compensation plans and TCG pre-funded warrant | 866,000 | 118,000 | 30,000 | 758,000 | 33 | |
| Net cash provided by financing activities | 181 | 42 | 30,000 | 2 | 36 | |
| Effect of foreign exchange rates on cash and cash equivalents | 6,000 | −4,000 | 62,000 | −327,000 | −92,000 | |
| Net increase (decrease) in cash and cash equivalents | −29 | 9 | −53 | 63 | −174 | |
| Fair value of equity method investment in Gannet BioChem received in exchange for sale of Huntsville manufacturing facility | 0 | 12 | 0 | — | — | |
| Transaction costs and net working capital adjustment for sale of Huntsville manufacturing facility included in accounts payable and accrued expenses | 0 | 697,000 | 0 | — | — | |
| Cash paid (refund) for income taxes, net | −195,000 | 76,000 | 3 | 272,000 | 325,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is NEKTAR THERAPEUTICS's CIK number?
NEKTAR THERAPEUTICS's SEC CIK number is 0000906709 (906709). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find NEKTAR THERAPEUTICS's SEC filings?
All of NEKTAR THERAPEUTICS's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did NEKTAR THERAPEUTICS last report earnings?
NEKTAR THERAPEUTICS (NKTR) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001213900-26-053369). This is NEKTAR THERAPEUTICS's most recent earnings filing of record — not a forecast of its next earnings date.
What is NEKTAR THERAPEUTICS's most recent earnings 8-K?
NEKTAR THERAPEUTICS's latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001213900-26-053369. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View NEKTAR THERAPEUTICS's latest earnings 8-K →
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