Nektar(US:NKTR) Prnewswireยท2025-08-07 20:15Core Viewpoint - Nektar Therapeutics reported its financial results for Q2 2025, highlighting a significant decrease in revenue year-over-year, primarily due to the sale of its Huntsville manufacturing facility, while also showcasing promising clinical data for its lead product candidate, rezpegaldesleukin, in treating autoimmune disorders [1][4][3]. Financial Performance - Cash and investments in marketable securities as of June 30, 2025, were $175.9 million, down from $269.1 million on December 31, 2024. This figure does not include $107.5 million from a secondary offering completed on July 2, 2025, which is expected to support operations into Q1 2027 [2]. - Revenue for Q2 2025 was $11.2 million, a decrease from $23.5 million in Q2 2024. For the first half of 2025, revenue totaled $21.6 million compared to $45.1 million in the same period of 2024 [4]. - Total operating costs and expenses in Q2 2025 were $47.4 million, down from $73.3 million in Q2 2024. For the first half of 2025, total operating costs were $102.4 million compared to $130.3 million in the first half of 2024 [5]. - R&D expenses in Q2 2025 were $29.9 million, slightly up from $29.7 million in Q2 2024. For the first half of 2025, R&D expenses were $60.4 million compared to $57.1 million in the first half of 2024 [6]. - General and administrative expenses were $17.1 million in Q2 2025, down from $20.5 million in Q2 2024. For the first half of 2025, G&A expenses were $41.4 million compared to $40.7 million in the first half of 2024 [7]. - The net loss for Q2 2025 was $41.6 million, or $2.95 per share, compared to a net loss of $52.4 million, or $3.76 per share, in Q2 2024. The net loss for the first half of 2025 was $92.5 million, or $6.57 per share, compared to a net loss of $89.2 million, or $6.63 per share, in the first half of 2024 [10]. Clinical Developments - Nektar announced transformative data for rezpegaldesleukin from a Phase 2b study in patients with moderate to severe atopic dermatitis, showing rapid onset of EASI response and itch relief. The company anticipates reporting 52-week data in early 2026 [3]. - The company is advancing its next T regulatory cell program, NKTR-0165, targeting the TNFR2 receptor, with plans to enter clinical trials in 2026. Additionally, preclinical studies for a new bispecific antibody, NKTR-0166, are progressing [3]. - In July 2025, the FDA granted Fast Track designation for rezpegaldesleukin for treating severe-to-very severe alopecia areata in adults and pediatric patients [17]. Recent Business Highlights - Nektar successfully closed a public offering of its common stock in July 2025, raising $115 million in gross proceeds [17]. - The REZOLVE-AD study achieved statistical significance on primary and key secondary endpoints at week 16, indicating the potential of rezpegaldesleukin as a first and best-in-class immune-modulator [17].