Financial Data and Key Metrics Changes - The company ended Q2 2024 with $290.6 million in cash and investments, with no debt on the balance sheet [30] - Revenue for Q2 2024 was $23.5 million, with full-year revenue expected to be between $75 million and $85 million [30] - R&D expenses for Q2 2024 were $29.7 million, with full-year R&D expenses anticipated to range between $120 million and $130 million [30] - The net loss for Q2 2024 was $52.4 million, or $0.25 per share, with a non-GAAP net loss of $39.1 million, or $0.19 per share [31] Business Line Data and Key Metrics Changes - The lead program, Rezpegaldesleukin (REZPEG), is advancing in two Phase 2b studies for atopic dermatitis and alopecia areata, with enrollment on track [6][8] - REZPEG has shown promising Phase 1b efficacy data in atopic dermatitis, indicating potential for a differentiated treatment [5][14] - NKTR-255, the IL-15 program in oncology, is completing a study in large B-cell lymphoma, with ongoing studies funded by collaborators [11][12] Market Data and Key Metrics Changes - Approximately 30 million people in the U.S. have atopic dermatitis, with half diagnosed with moderate-to-severe disease, indicating a significant market opportunity [8] - There is a high unmet medical need for new mechanisms to treat atopic dermatitis, as under 10% of eligible patients currently receive biologics [8] - Nearly seven million people in the U.S. have or will develop alopecia areata, highlighting the potential market for REZPEG in this indication [9] Company Strategy and Development Direction - The company is focused on building a best-in-class pipeline in immunology and inflammation, with a strong emphasis on REZPEG and NKTR-255 [4][13] - The strategy includes advancing multiple novel therapies towards the clinic, with a cash runway extending into Q3 2026 [13][30] - The company is exploring strategic partnership opportunities for NKTR-255 to enhance its role in cell therapy [12][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of REZPEG to address significant unmet needs in atopic dermatitis and alopecia areata [8][19] - The company remains optimistic about the upcoming data readouts from ongoing studies, which are expected in 2025 and 2026 [7][16] - Management highlighted the importance of novel treatment mechanisms in growing the market for atopic dermatitis [8] Other Important Information - The company reported $13.3 million in noncash impairment charges related to real estate obligations due to market declines [31] - The Phase 2b study for REZPEG has been amended to extend the treatment duration, enhancing the robustness of the data set [15] Q&A Session Summary Question: Next steps for NKTR-255 and potential synergy with CAR-T for autoimmune diseases - Management discussed the promising findings from the Stanford study and the potential for NKTR-255 to enhance CAR-T efficacy [32][33] Question: Timeline for alopecia areata study and value proposition versus JAK inhibitors - Management confirmed that top line data for the alopecia study is expected in mid-2025 and discussed the safety and efficacy advantages of REZPEG over JAK inhibitors [40][42][43] Question: Update on litigation with Lilly - Management confirmed ongoing discussions and mediation with Lilly regarding a mathematical error in data interpretation [47] Question: Historical controls in studies - Management provided insights into the careful selection of control groups in studies to ensure comparable baseline characteristics [49][50]

Nektar Therapeutics (NKTR) incurred a loss per share of 25 cents in the second quarter of 2024, which was wider than the Zacks Consensus Estimate of a loss of 21 cents. Excluding the impact of non-cash restructuring and impairment charges, the company reported an adjusted loss of 19 cents per share in the second quarter of 2024 compared with an adjusted loss of 18 cents per share in the year-ago quarter. Total revenues were $23.5 million in the second quarter, up 14.6% year over year. Revenues beat the Zack ...

Nektar Therapeutics (NKTR) came out with a quarterly loss of $0.25 per share versus the Zacks Consensus Estimate of a loss of $0.21. This compares to loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -19.05%. A quarter ago, it was expected that this biopharmaceutical company would post a loss of $0.21 per share when it actually produced a loss of $0.18, delivering a surprise of 14.29%. Over the last four quarters, ...

Financial Performance - Total revenue for the three months ended June 30, 2024, was $23.489 million, a 15% increase compared to $20.499 million for the same period in 2023[98] - Product sales increased by 43% to $6.640 million in Q2 2024 from $4.658 million in Q2 2023[98] - The company reported a net loss of $52.363 million for the three months ended June 30, 2024, compared to a net loss of $51.122 million for the same period in 2023, reflecting a 2% increase in losses[98] - Product sales increased to $12,674 million for the six months ended June 30, 2024, representing a 35% increase compared to $9,376 million in the same period of 2023[100] - Total revenue for the six months ended June 30, 2024, was $45,128 million, a 7% increase from $42,093 million in 2023[100] - Net loss for the six months ended June 30, 2024, was $89,165 million, a 53% improvement compared to a net loss of $188,140 million in 2023[100] - Cash flows used in operating activities for the six months ended June 30, 2024, were $85.6 million, down from $103.4 million in the same period of 2023[120] Research and Development - Research and development expenses remained stable at $29.724 million in Q2 2024, compared to $29.681 million in Q2 2023[98] - Research and development expenses are expected to increase in 2024 due to the development of rezpegaldesleukin in two Phase 2b trials[105] - The company initiated a Phase 2b clinical study of rezpegaldesleukin in patients with moderate-to-severe atopic dermatitis in late October 2023[92] - Rezpegaldesleukin demonstrated dose-dependent improvements in eczema area and severity index (EASI) and was well tolerated in a Phase 1b study[92] - NKTR-255 is being evaluated in a Nektar-sponsored Phase 2 study following CD19 CAR-T cell therapy in patients with large B-cell lymphoma, with data expected before the end of 2024[94] - The company is advancing its preclinical program NKTR-0165, a TNF receptor type II agonist, with IND enabling studies planned for 2024[94] - The company plans to continue advancing promising early research drug candidates into preclinical development over the next several years[107] Expenses and Costs - Total operating costs and expenses decreased to $130,329 million for the six months ended June 30, 2024, down 43% from $227,402 million in 2023[100] - General and administrative expenses increased for the six months ended June 30, 2024, reflecting a reduction in facilities costs allocated to research and development[110] - The company incurred $5.5 million in costs for the wind down of the bempegaldesleukin program in 2023, with these costs reported within research and development expenses for 2024[112] - Severance and benefits expense for the 2023 Restructuring Plan totaled $7.9 million in 2023, with no expected expenses for this plan in 2024[112] - The company recognized $35.3 million in non-cash impairment charges for the full year 2023, primarily related to office and laboratory space[114] - The company recorded a provision of $3.1 million for net realizable value as of June 30, 2024, due to expected revenue being less than manufacturing costs[102] Cash and Investments - The company has approximately $290.6 million in cash and investments in marketable securities as of June 30, 2024, to fund its business plans for at least the next twelve months[96] - The company expects cash flows used in operating activities to increase in 2024 due to the development of rezpegaldesleukin in Phase 2b trials[120] - The company has no credit facility or committed capital sources, with financing alternatives dependent on the success of drug development programs[119] Collaborations and Agreements - The company received $1.9 billion in total consideration from collaboration agreements, including a $150 million upfront payment from Lilly for rezpegaldesleukin[119] - The company regained full rights to rezpegaldesleukin after the termination of the licensing agreement with Eli Lilly on April 23, 2023[92] - The company expects to significantly reduce the provision for net realizable value in the three months ending September 30, 2024, following a new agreement with UCB[102] - Non-cash royalty revenue is expected to decrease for the full year 2024 due to a reduction in royalty rates from UCB[103] - The company is seeking to sublease all laboratory and office space due to adverse market conditions, particularly in the San Francisco Bay Area[119]

SAN FRANCISCO, Aug. 8, 2024 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) today reported financial results for the second quarter ended June 30, 2024. Cash and investments in marketable securities at June 30, 2024 were $290.6 million as compared to $329.4 million at December 31, 2023. Nektar's cash and marketable securities are expected to support strategic development activities and operations into the third quarter of 2026. "We continue to make excellent progress advancing rezpegaldesleukin in Phase ...

SAN FRANCISCO, Aug. 1, 2024 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) will announce its financial results for the second quarter 2024 on Thursday, August 8, 2024, after the close of U.S.-based financial markets. Howard Robin, President and Chief Executive Officer, will host a conference call to review the results beginning at 5:00 p.m. Eastern Time/2:00 p.m. Pacific Time. The press release and live audio-only webcast of the conference call can be accessed through a link that is posted on the Home P ...

– NKTR-0165 Demonstrates Selective Enhancement of Treg Cell Function Through Novel Agonistic Mechanism – The poster presentation is available for download at www.nektar.com/science/scientific-posters-andpresentations. Abstract 3174: "A Novel Therapeutically Active Anti-TNFR2 Agonistic Antibody Promotes Treg Proliferation and Induction of Treg Functional Markers", Miyazaki, et al. Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immuno ...

Company Overview - Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments for autoimmune and chronic inflammatory diseases [2] - The lead product candidate is rezpegaldesleukin (REZPEG, or NKTR-358), a first-in-class regulatory T cell stimulator currently in two Phase 2b clinical trials for atopic dermatitis and alopecia areata [2] - The pipeline includes a preclinical candidate NKTR-0165, a bivalent tumor necrosis factor receptor type II agonist antibody, and NKTR-255, an investigational IL-15 receptor agonist aimed at enhancing the immune system's ability to combat cancer [2] Upcoming Events - Nektar Therapeutics management will present at the Jefferies Healthcare Conference in New York City on June 6, 2024, at 3:30 p.m. Eastern Time [1] - The company will also present at the Goldman Sachs 45th Annual Global Healthcare Conference in Miami on June 10, 2024, at 2:00 p.m. Eastern Time [1] - Presentations will be accessible via webcast and available for replay until July 6, 2024, and July 10, 2024, respectively [1]

Nektar Therapeutics (NKTR) incurred an adjusted loss per share of 18 cents in first-quarter 2024, which was narrower than the Zacks Consensus Estimate of a loss of 21 cents.The adjusted loss excluded the impact of restructuring costs. After including restructuring costs, the loss was 19 cents per share compared with a loss of 73 cents in the year-ago quarter.Total revenues were almost flat year over year at $21.6 million in the first quarter. Revenues beat the Zacks Consensus Estimate of $15 million.Quarter ...

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, 2024 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 incorpor ...