Nektar(US:NKTR)2025-11-06 21:24Financial Performance - Revenue for Q3 2025 was $11.8 million, a decrease of 51% compared to $24.1 million in Q3 2024[5] - Net loss for Q3 2025 was $35.5 million, or $1.87 per share, compared to a net loss of $37.1 million, or $2.66 per share in Q3 2024[11] - Total revenue for the three months ended September 30, 2025, was $11.79 million, a decrease of 51% compared to $24.12 million in the same period of 2024[24] - The net loss for the three months ended September 30, 2025, was $35.52 million, compared to a net loss of $37.06 million in the same period of 2024[24] - Basic and diluted net loss per share for the three months ended September 30, 2025, was $1.87, an improvement from $2.66 in the same period of 2024[24] - Total revenue for the nine months ended September 30, 2025, was $33.43 million, a decrease of 51.7% compared to $69.25 million in the same period of 2024[24] Operating Costs - Total operating costs and expenses in Q3 2025 were $43.5 million, down 26% from $58.5 million in Q3 2024[6] - Total operating costs and expenses for the three months ended September 30, 2025, were $43.46 million, down from $58.47 million in the same period of 2024, indicating a reduction of 25.6%[24] Research and Development - R&D expenses in Q3 2025 were $27.3 million, a reduction of 22% compared to $35.0 million in Q3 2024[7] - Research and development expenses for the nine months ended September 30, 2025, were $87.62 million, compared to $92.16 million for the same period in 2024, reflecting a decrease of 5.5%[24] Cash and Investments - Cash and investments in marketable securities as of September 30, 2025, were $270.2 million, slightly up from $269.1 million on December 31, 2024[3] - The company expects its cash and investments to support operations into the second quarter of 2027[3] Equity Method Investment - Non-cash losses from the equity method investment in Gannet BioChem were $0.5 million in Q3 2025 and $7.4 million for the first nine months of 2025[10] - Loss from equity method investment for the nine months ended September 30, 2025, was $(7.38) million, with no loss reported in the same period of 2024[24] Liabilities - Total liabilities decreased to $216.3 million as of September 30, 2025, from $243.1 million on December 31, 2024[21] Regulatory and Research Updates - The FDA granted Fast Track designation for rezpegaldesleukin for severe-to-very-severe alopecia areata in July 2025[17] - The company will present new findings from the REZOLVE-AD study at the ACAAI Scientific Meeting on November 8, 2025[12] Non-Operating Income - Non-operating income (expense), net for the three months ended September 30, 2025, was $(3.35) million, compared to $(2.70) million in the same period of 2024[24] Share Information - The weighted average shares outstanding used in computing basic and diluted net loss per share increased to 18,946,559 for the three months ended September 30, 2025, from 13,949,851 in the same period of 2024[24] Royalty Revenue - Non-cash royalty revenue related to future royalties was $11.49 million for the three months ended September 30, 2025, down from $15.73 million in the same period of 2024[24]