Nektar Therapeutics (NKTR) came out with quarterly loss of $0.15 per share, missing the Zacks Consensus Estimate of a loss of $0.13 per share. This compares to loss of $0.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -15.38%. A quarter ago, it was expected that this biopharmaceutical company would post a loss of $0.23 per share when it actually produced a loss of $0.18, delivering a surprise of 21.74%.Nektar, which belong ...

Nektar Therapeutics (NKTR) incurred an adjusted loss per share of 15 cents in the fourth quarter of 2024, wider than the Zacks Consensus Estimate of a loss of 13 cents. In the year-ago quarter, the company had incurred a loss of 22 cents per share.See the Zacks Earnings Calendar to stay ahead of market-making news.Total revenues in the fourth quarter increased 22.2% year over year to $29.2 million. The reported figure however missed the Zacks Consensus Estimate of $39 million.In the past year, shares of Nek ...

Nektar Therapeutics (NKTR) Q4 2024 Earnings Call March 13, 2025 01:38 AM ET Company Participants Vivian Wu - Director of Investor Relations & Corporate AffairsHoward W. Robin - CEO, President & DirectorBrian Kotzin - Interim Chief Medical OfficerJonathan Zalevsky - Senior VP & Chief Research and Development OfficerSandra Gardiner - Chief Financial OfficerJulian Harrison - Managing DirectorMayank Mamtani - Senior Managing Director Conference Call Participants Yasmeen Rahimi - Sr. Research AnalystJay Olson - ...

Core Insights - Nektar Therapeutics reported a revenue of $29.18 million for the quarter ended December 2024, reflecting a year-over-year increase of 22.1% [1] - The earnings per share (EPS) was $0.15, a significant improvement from -$0.22 in the same quarter last year, resulting in an EPS surprise of +215.38% compared to the consensus estimate of -$0.13 [1] - The reported revenue fell short of the Zacks Consensus Estimate of $39.02 million by 25.23% [1] Revenue Breakdown - Product sales reached $12.87 million, exceeding the average estimate of $9.76 million from eight analysts, marking a year-over-year increase of 134.8% [4] - Non-cash royalty revenue related to future royalties was $16.24 million, slightly above the estimated $15.15 million, but showed a decline of 10.1% compared to the previous year [4] - License, collaboration, and other revenue was only $0.06 million, significantly below the average estimate of $28.26 million from four analysts, representing a year-over-year decrease of 81.5% [4] Stock Performance - Nektar's shares have returned +23.5% over the past month, contrasting with a -8.2% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [3]

Financial Performance - Revenue for Q4 2024 was $29.2 million, a 22.1% increase from $23.9 million in Q4 2023[4] - Net income for Q4 2024 was $7.3 million, compared to a net loss of $42.1 million in Q4 2023[9] - The net loss for the full year 2024 was $119.0 million, an improvement from a net loss of $276.1 million in 2023[9] - The company reported a net income of $7,261,000 in Q4 2024, a turnaround from a net loss of $42,079,000 in Q4 2023[22] - Basic net income per share improved to $0.03 in Q4 2024, compared to a loss of $0.22 per share in Q4 2023[22] Operating Costs and Expenses - Total operating costs and expenses for Q4 2024 were $14.8 million, significantly down from $57.4 million in Q4 2023, primarily due to a $40.4 million gain from the sale of the Huntsville manufacturing facility[5] - G&A expenses for the full year 2024 were $76.8 million, slightly down from $77.4 million in 2023, indicating cost management efforts[7] Research and Development - R&D expenses for the full year 2024 were $120.9 million, up from $114.2 million in 2023, driven by increased development expenses for rezpegaldesleukin[6] - Research and development expenses for the year totaled $120,908,000, up from $114,162,000 in 2023, marking a 6% increase[22] - The company completed enrollment for the Phase 2b trials of rezpegaldesleukin in atopic dermatitis and alopecia areata, with topline data expected in Q2 and Q4 2025, respectively[3] - Nektar plans to submit the IND for NKTR-0165 in the second half of 2025, expanding its immunology pipeline[3] Sales and Revenue Growth - Product sales increased significantly to $12,874,000 in Q4 2024, compared to $5,483,000 in Q4 2023, representing a 134% growth[22] - Total revenue for Q4 2024 reached $29,175,000, a 22% increase from $23,885,000 in Q4 2023[22] Assets and Liabilities - Total assets decreased to $303,850,000 in 2024 from $398,033,000 in 2023, reflecting a 24% decline[20] - Total liabilities were reduced to $243,113,000 in 2024, down from $267,046,000 in 2023, indicating a 9% decrease[20] - Total stockholders' equity decreased to $60,737,000 in 2024 from $130,987,000 in 2023, a decline of 53%[20] Other Significant Events - Nektar announced a definitive agreement to sell its commercial PEGylation manufacturing business for $90 million, which includes $70 million in cash[12] - The FDA granted Fast Track designation for rezpegaldesleukin for treating moderate-to-severe atopic dermatitis in patients aged 12 and older[11] - The company recorded a gain of $40,390,000 from the sale of the Huntsville manufacturing facility in Q4 2024[22] - Non-cash royalty revenue related to future royalties was $16,238,000 in Q4 2024, slightly down from $18,061,000 in Q4 2023[22]

SAN FRANCISCO, March 12, 2025 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) today reported financial results for the fourth quarter ended December 31, 2024.Cash and investments in marketable securities on December 31, 2024 were $269.1 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 fourth quarter of 2026."The significant progress we made last year in advancing our immunol ...

Core Insights - Nektar Therapeutics will announce its financial results for Q4 and the full year ended December 31, 2024, on March 12, 2025, after U.S. market close [1] - The conference call to discuss the results will be hosted by Howard Robin, President and CEO, at 5:00 p.m. Eastern Time [1] Company Overview - Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments for autoimmune and chronic inflammatory diseases [3] - 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 [3] - The pipeline includes a preclinical bivalent TNFR2 antibody, bispecific programs NKTR-0165 and NKTR-0166, and a modified CSF protein NKTR-422 [3] - Nektar is also evaluating NKTR-255, an investigational IL-15 receptor agonist aimed at enhancing the immune system's ability to combat cancer, in several ongoing clinical trials [3] - The company is headquartered in San Francisco, California [3]

Core Insights - Nektar Therapeutics has completed target enrollment in its Phase 2b study of rezpegaldesleukin for severe-to-very-severe alopecia areata, achieving an enrollment of 84 patients [1][2] Company Overview - Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments for autoimmune and chronic inflammatory diseases, with rezpegaldesleukin as its lead product candidate [9] - Rezpegaldesleukin is a first-in-class regulatory T cell stimulator being evaluated in two Phase 2b clinical trials, one for alopecia areata and another for atopic dermatitis [9] Study Details - The REZOLVE-AA study enrolled patients with severe-to-very-severe alopecia areata who have not previously received JAK inhibitors or other biologics, with randomization across two dose regimens of rezpegaldesleukin or placebo [2][4] - The primary efficacy endpoint is the mean percent change in the Severity of Alopecia Tool (SALT) score at the end of a 36-week induction period, with secondary endpoints including the proportion of participants achieving a 50% reduction in SALT score [2][4] Clinical Context - Alopecia areata is an autoimmune disease affecting hair follicles, with a lifetime incidence of 2% in both men and women, impacting approximately 6.7 million people in the U.S. and 160 million worldwide [7][8] - Current therapies for alopecia areata have high relapse rates and there is a significant unmet medical need for more effective treatments [8] Mechanism of Action - Rezpegaldesleukin targets the interleukin-2 receptor complex to stimulate the proliferation of regulatory T cells, potentially restoring immune system balance in autoimmune conditions [5][6]

Company Overview - Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments for autoimmune and chronic inflammatory diseases [5] - The company's lead product candidate, rezpegaldesleukin (REZPEG or NKTR-358), is a first-in-class regulatory T cell stimulator [5] - Nektar's pipeline includes additional candidates such as a preclinical bivalent TNFR2 antibody and bispecific programs, NKTR-0165 and NKTR-0166, as well as NKTR-422, a modified hematopoietic colony stimulating factor [5] Product Development - Rezpegaldesleukin is being developed as a self-administered injection for various autoimmune and inflammatory diseases [3] - It is currently evaluated in two Phase 2b clinical trials: the REZOLVE-AD study for moderate-to-severe atopic dermatitis and the REZOLVE-AA study for severe-to-very-severe alopecia areata [3] - The FDA has granted Fast Track designation for rezpegaldesleukin for treating patients aged 12 and older with moderate-to-severe atopic dermatitis [4] Upcoming Events - Nektar Therapeutics will host a virtual investor and analyst event with Type 1 Diabetes experts on February 24, 2025 [1] - The event will be led by Nektar's Chief Research & Development Officer, Jonathan Zalevsky, and will feature leading diabetes experts [1][7]

Core Viewpoint - Nektar Therapeutics and TrialNet have announced a collaboration to conduct a Phase 2 clinical trial evaluating the safety and efficacy of rezpegaldesleukin in patients with new onset stage 3 type 1 diabetes mellitus (T1D) [1][2][3] Company Overview - Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments for autoimmune and chronic inflammatory diseases, with rezpegaldesleukin as its lead product candidate [10] - Rezpegaldesleukin is a novel agonistic T regulatory (Treg) cell biologic designed to restore immune balance and dampen inflammatory responses [2][5] - The drug is wholly owned by Nektar and is also being evaluated in clinical trials for atopic dermatitis and alopecia areata [6][10] Clinical Trial Details - The Phase 2 trial will be randomized, double-blind, and placebo-controlled, involving approximately 70 adults and children with new onset stage 3 T1D [2][3] - The study aims to measure the efficacy of rezpegaldesleukin using a mixed meal tolerance test (MMTT) over a 12-month period, including a 6-month treatment phase and a 6-month follow-up [3] - Secondary objectives will include pharmacokinetics, pharmacodynamics, and assessments of HbA1c levels and patient insulin requirements [3] Industry Context - Type 1 diabetes (T1D) is an immune-mediated disease characterized by the destruction of insulin-producing beta cells, leading to lifelong dependence on insulin [9] - Preservation of residual beta-cell function at diagnosis can improve glycemic control and reduce long-term complications [9] - TrialNet is the largest clinical trial network focused on changing the course of T1D, aiming to prevent the disease and preserve insulin production [11]