NEKTAR THERAPEUTICS NKTR
Nektar Therapeutics (Nektar, we) is a clinical stage, research-based drug discovery biopharmaceutical company focused on discovering and developing innovative medicines in the field of immunotherapy. Within this growing field, we direct our efforts toward creating new immunomodulatory agents that selectively induce, amplify, attenuate or prevent immune responses in order to achieve desired therapeutic outcomes. We apply our deep understanding of immunology to identify and create innovative drug candidates and use our drug development expertise to advance these molecules through preclinical and clinical development. Our pipeline of clinical-stage and preclinical-stage immunomodulatory agents targets the treatment of autoimmune diseases (e.g., rezpegaldesleukin and NKTR-0165/0166, respectively) and cancer (e.g. NKTR-255). We continue to make significant investments in building and advancing our pipeline of drug candidates as we believe that this is the best strategy to build long-term shareholder value.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $55.2M | $98.4M | $90.1M | $92.1M | $101.9M | $152.9M | $114.6M | $1.19B | $307.7M | $165.4M |
| Cost of revenue | $0 | $30.7M | $33.8M | $21.6M | $24.9M | $19.5M | $21.4M | $24.4M | $30.5M | $30.2M |
| Gross profit | $55.2M | $67.7M | $56.4M | $70.4M | $77.0M | $133.4M | $93.2M | $1.17B | $277.2M | $135.2M |
| R&D | $117.3M | $120.9M | $114.2M | $218.3M | $400.3M | $408.7M | $434.6M | $399.5M | $268.5M | $203.8M |
| SG&A | $68.7M | $76.8M | $77.4M | $92.3M | $122.8M | $104.7M | $98.7M | $81.4M | $52.4M | $44.3M |
| Total operating expenses | $195.3M | $203.6M | $353.8M | $468.2M | $548.0M | $578.0M | $554.7M | $505.4M | $367.4M | $278.3M |
| Operating income | -$140.1M | -$105.2M | -$263.7M | -$376.2M | -$446.1M | -$425.1M | -$440.0M | $687.9M | -$59.6M | -$112.9M |
| Interest expense | — | — | — | $0 | $0 | $6.9M | $21.3M | $21.6M | $22.1M | $22.5M |
| Pre-tax income | -$164.2M | -$119.2M | -$276.3M | -$365.0M | -$523.3M | -$443.9M | -$440.1M | $682.7M | -$96.1M | -$152.6M |
| Income tax | $138.0K | $239.0K | $200.0K | $3.2M | $557.0K | $493.0K | $613.0K | $1.4M | $616.0K | $876.0K |
| Net income | -$164.0M | -$119.0M | -$276.0M | -$368.0M | -$524.0M | -$444.4M | -$440.7M | $681.3M | -$96.7M | -$153.5M |
| EPS, basic | -9.73 | -8.68 | -1.45 | -1.97 | -2.86 | -2.49 | -2.52 | 4.02 | -0.62 | -1.10 |
| EPS, diluted | -9.73 | -8.68 | -1.45 | -1.97 | -2.86 | -2.49 | -2.52 | 3.78 | -0.62 | -1.10 |
| Shares, diluted (wtd. avg.) | 16.9M | 13.7M | 190.0M | 187.1M | 183.3M | 178.6M | 175.0M | 180.1M | 156.0M | 139.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $15.1M | $44.3M | $35.3M | $88.2M | $25.2M | $199.0M | $96.4M | $194.9M | $4.8M | $59.6M |
| Short-term investments | $230.6M | $211.0M | $268.3M | $416.8M | $708.7M | $862.9M | $1.23B | $1.14B | $291.4M | — |
| Receivables | — | $0 | $1.2M | $6.0M | $22.5M | $38.9M | $36.8M | $43.2M | $5.0M | $15.7M |
| Inventory | $0 | $0 | $16.1M | $19.2M | $15.8M | $15.3M | $12.7M | $11.4M | $10.7M | $11.1M |
| Total current assets | $266.3M | $261.3M | $330.7M | $546.0M | $795.6M | $1.14B | $1.42B | $1.44B | $326.8M | $426.0M |
| Property, plant and equipment | $2.1M | $3.4M | $18.9M | $32.5M | $60.5M | $59.7M | $65.7M | $48.9M | $47.5M | $65.6M |
| Goodwill | — | — | $0 | $76.5M | $76.5M | $76.5M | $76.5M | $76.5M | $76.5M | $76.5M |
| Total assets | $280.4M | $303.9M | $398.0M | $710.6M | $1.12B | $1.54B | $1.98B | $2.15B | $508.9M | $568.9M |
| Accounts payable | $10.8M | $11.6M | $9.8M | $13.0M | $9.7M | $22.1M | $19.2M | $5.9M | $4.8M | $2.8M |
| Total current liabilities | $53.5M | $61.4M | $51.3M | $68.2M | $85.2M | $115.8M | $353.9M | $82.0M | $56.2M | $72.2M |
| Total liabilities | $190.6M | $243.1M | $267.0M | $344.0M | $437.7M | $461.5M | $572.0M | $432.6M | $421.0M | $480.7M |
| Retained earnings | -$3.76B | -$3.60B | -$3.48B | -$3.20B | -$2.83B | -$2.31B | -$1.86B | -$1.42B | -$2.12B | -$2.02B |
| Total equity | $89.8M | $60.7M | $131.0M | $366.6M | $679.5M | $1.08B | $1.41B | $1.72B | $87.8M | $88.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$208.5M | -$175.7M | -$192.6M | -$304.0M | -$412.7M | -$313.3M | -$328.7M | $718.2M | -$80.4M | -$117.0M |
| Depreciation and amortisation | — | $4.1M | $7.0M | $12.2M | $13.0M | $12.5M | $11.0M | $8.8M | $12.6M | $13.2M |
| Capital expenditure | $171.0K | $1.5M | $865.0K | $5.7M | $15.0M | $7.3M | $26.3M | $14.2M | $9.7M | $6.4M |
| Investing cash flow | -$1.2M | $142.6M | $139.6M | $365.8M | $202.8M | $496.2M | $206.9M | -$1.38B | -$28.8M | -$82.4M |
| Financing cash flow | $180.6M | $42.1M | $30.0K | $1.5M | $36.2M | -$80.4M | $23.4M | $852.0M | $54.4M | $203.6M |
| Buybacks | $0 | $3.0M | $0 | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-016708.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $165.4M | $307.7M | $1.19B | $114.6M | $152.9M | $101.9M | $92.1M | $90.1M | $98.4M | $55.2M |
| Gross profit | $135.2M | $277.2M | $1.17B | $93.2M | $133.4M | $77.0M | $70.4M | $56.4M | $67.7M | $55.2M |
| Net income | -$153.5M | -$96.7M | $681.3M | -$440.7M | -$444.4M | -$524.0M | -$368.0M | -$276.0M | -$119.0M | -$164.0M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Material agreement signed Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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