Nektar(US:NKTR)2025-03-12 20:20Financial 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]