Nektar(US:NKTR) Prnewswire·2025-03-12 20:15Core Insights - Nektar Therapeutics reported a net income of $7.3 million for Q4 2024, a significant improvement from a net loss of $42.1 million in Q4 2023, indicating a positive shift in financial performance [8] - The company achieved total revenue of $29.2 million in Q4 2024, up from $23.9 million in Q4 2023, and a total annual revenue of $98.4 million for 2024, compared to $90.1 million in 2023, reflecting growth in product sales and other revenue streams [3][14] - Nektar's cash and investments in marketable securities decreased to $269.1 million as of December 31, 2024, from $329.4 million a year earlier, but are expected to support operations until Q4 2026 [1] Financial Performance - Total operating costs and expenses for Q4 2024 were $14.8 million, significantly lower than $57.4 million in Q4 2023, primarily due to a $40.4 million gain from the sale of the Huntsville manufacturing facility [4][15] - Research and development (R&D) expenses for Q4 2024 were $28.7 million, slightly down from $29.9 million in Q4 2023, while total R&D expenses for the year increased to $120.9 million from $114.2 million in 2023 [5][14] - General and administrative (G&A) expenses remained stable at $17.1 million for Q4 2024 compared to $17.3 million in Q4 2023, with total G&A expenses for the year at $76.8 million, down from $77.4 million in 2023 [6][14] Business Developments - Nektar is advancing its immunology pipeline, with two Phase 2b trials for rezpegaldesleukin now fully enrolled, expecting topline data in Q2 and Q4 2025 [2] - The company reported progress in preclinical programs, including the first data for NKTR-0165 and the introduction of a new bispecific antibody, NKTR-0166, with plans to submit an IND for NKTR-0165 in the second half of 2025 [2] - Nektar's lead product candidate, rezpegaldesleukin, is being evaluated for chronic autoimmune disorders, positioning the company for potential value creation in the upcoming year [2][11]