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.
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