Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORTS PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-24006 NEKTAR THERAPEUTICS (Exact name of registrant as specified in its charter) (State or other jurisdiction of inco ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORTS PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Comm ...

Table of Contents Commission File Number: 0-24006 _______________________________________________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 NEKTAR THERAPEUTICS _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 (Exact n ...

Financial Performance - Total revenue for the year ended December 31, 2022, was $92.1 million, a decrease of 10% from $101.9 million in 2021[226]. - Product sales decreased by 14% to $20.3 million in 2022 from $23.7 million in 2021, attributed to decreased demand from collaboration partners[226][228]. - Non-cash royalty revenue related to future royalties was $69.8 million in 2022, down 10% from $77.7 million in 2021[226]. - License, collaboration, and other revenue increased over 100% to $1.9 million in 2022 from $436,000 in 2021[226]. - Revenue from the United States was $9.8 million in 2022, a slight decrease from $10.1 million in 2021, while revenue from the rest of the world was $82.2 million, down from $91.8 million[232]. Expenses and Costs - Cost of goods sold decreased by $3,262,000 (13%) from $24,897,000 in 2021 to $21,635,000 in 2022[233]. - Product gross margin remained negative at (6%) for 2022, worsening from (5%) in 2021[233]. - Research and development expense decreased by $181,946,000 (45%) from $400,269,000 in 2021 to $218,323,000 in 2022[237]. - General and administrative expense decreased by $30,511,000 (25%) from $122,844,000 in 2021 to $92,333,000 in 2022[245]. - Restructuring, impairment, and other costs of terminated program amounted to $135,930,000, representing an increase of over 100% compared to 2021[247]. Cash and Investments - The company had approximately $505.0 million in cash and investments in marketable securities as of December 31, 2022, providing liquidity for ongoing operations[224]. - As of December 31, 2022, the company held $427.7 million of available-for-sale investments, with an average time to maturity of four months[287]. - A hypothetical 50 basis point increase in interest rates would result in an approximate $0.6 million decrease, less than 1%, in the fair value of available-for-sale securities at December 31, 2022[286]. - The company has significant cash and investment balances in India, subjecting it to foreign currency exchange risk until repatriation[288]. - The company has no credit facility or committed capital sources, and future financing depends on the success of drug development programs[262]. Drug Development and Collaborations - The drug candidate rezpegaldesleukin is in Phase 2 development, with a recent study showing improvements in SLEDAI-2K scores compared to placebo, despite not meeting the primary endpoint[218]. - NKTR-255 is being studied in multiple Phase 1 and Phase 2/3 trials, targeting various cancers and enhancing responses to existing therapies[220][221]. - The company plans to submit an Investigational New Drug (IND) filing for a lead TNFR2 agonist antibody candidate in 2024, targeting IND readiness by the end of 2023[222]. - The collaboration with Eli Lilly for rezpegaldesleukin includes potential milestone payments of up to $250.0 million and a royalty rate of up to the low twenties percent based on global product sales[217]. - The company received a $150,000,000 upfront payment from Lilly for the collaboration agreement for rezpegaldesleukin[260]. Impairment and Restructuring - The company assessed impairment of long-lived assets, determining that if anticipated undiscounted net cash flows are less than the carrying value, an impairment charge is recorded[273]. - The company recorded impairment charges based on estimates of sublease income, which may vary significantly based on market conditions[275]. - The company has implemented a restructuring plan to reduce its workforce by approximately 70%, from about 735 to 225 employees[247]. - The company has consolidated its San Francisco operations and is seeking to sublease vacated spaces, impacting its impairment evaluations[274]. Tax and Cash Flow - The provision for income taxes increased to $3,215,000 in 2022 from $557,000 in 2021, primarily due to taxes associated with closing research and development operations in India[257]. - Cash flows used in operating activities totaled $304,000,000 in 2022, down from $412,700,000 in 2021[266]. - The company expects cash flows used in operating activities to decrease in 2023 compared to 2022 due to no further costs for the wind down of the bempegaldesleukin program[267]. Revenue Recognition and Financial Instruments - The company recognizes revenue from collaboration agreements based on the nature of the payments and the involvement of collaboration partners[278]. - The company does not utilize derivative financial instruments to manage foreign exchange rate risks, exposing it to typical international operation risks[291]. - The company has not included milestones from Lilly in the transaction price due to significant uncertainties involved with clinical development and regulatory approval[279]. - Non-cash royalty revenue for the 2012 Purchase and Sale Agreement decreased due to lower net sales of CIMZIA and MIRCERA[252]. - Non-cash interest expense on liabilities related to future royalties decreased by 39% to $(28,911,000) in 2022 from $(47,313,000) in 2021[251].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORTS PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ...

Nektar Therapeutics (NASDAQ:NKTR) Q3 2022 Earnings Conference Call November 3, 2022 5:00 PM ET Company Participants Vivian Wu - Director, Investor Relations and Corporate Affairs Howard Robin - President and Chief Executive Officer Brian Kotzin - Chief Medical Officer Jonathan Zalevsky - Chief Research and Development Officer Jillian Thomsen - Chief Financial Officer Conference Call Participants Chris Shibutani - Goldman Sachs Roger Song - Jefferies Group LLC Jessica Fye - JPMorgan Chase & Co. Greg Harrison ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORTS PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Comm ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORTS PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Com ...

Nektar Therapeutics (NASDAQ:NKTR) Q4 2021 Earnings Conference Call February 28, 2022 5:00 PM ET Company Participants Jennifer Ruddock ??? Head-Corporate Affairs Howard Robin ??? President and Chief Executive Officer Dimitry Nuyten ??? Chief Medical Officer Jonathan Zalevsky ??? Chief-Research and Development Gil Labrucherie ??? Chief Operating Officer and Chief Financial Officer Conference Call Participants Peter Lawson ??? Barclays CJ Zopf ??? Goldman Sachs Jessica Fye ??? JPMorgan Greg Harrison ??? Bank o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ___________________________________________________________________________ Form 10-K ___________________________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Table of Contents 455 Mission Bay Boulevard South San Francisco, California 94158 or ☐ TRANSITION REPORTS PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transi ...