Nektar announces strategic reorganization, 70% workforce reduction, cash runway to H1 2025

NEKTAR THERAPEUTICS

Workforce reduced by ~70%; expects charge of $150-160M in Q2 2022.
Cash runway extended into first half of 2025; Q1 2022 cash & investments ~$704M.
CMO Dr. Dimitry Nuyten stepping down; Dr. Brian Kotzin to succeed.
CCO John Northcott to depart June 2022; remains as strategic advisor through 2022.
Preliminary Q1 revenue ~$25M; R&D expense ~$110M; gain of ~$33M from SFJ derivative.

item 2.02 item 7.01 item 5.02 item 9.01

Executive movements

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Departed

John Northcott

Senior Vice President and Chief Commercial Officer

NKTR · NEKTAR THERAPEUTICS

Filed: April 25, 2022, 7:59 PM ET

John Northcott will step down as Senior Vice President and Chief Commercial Officer of the Company in June 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John Northcott departed as Senior Vice President and Chief Commercial Officer at NEKTAR THERAPEUTICS.

Action: step down
Role: Senior Vice President and Chief Commercial Officer

Exact text from the filing

John Northcott will step down as Senior Vice President and Chief Commercial Officer of the Company in June 2022.

View on SEC.gov

NEKTAR THERAPEUTICS filing history →

Source: SEC EDGAR

accession 0001213900-22-021411

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