---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-030323"
form_type: "8-K"
ticker: "NKTR"
cik: "0000906709"
company_name: "NEKTAR THERAPEUTICS"
filed_at: "2023-04-17T23:59:59+00:00"
generated_at: "2026-06-17T01:42:26.677294+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Nektar cuts SF workforce 60%, extends cash runway to mid-2026; CFO departs

## Summary
- Workforce reduction of ~60% in San Francisco; ~55 employees expected post-restructuring.
- Cash, cash equivalents, and marketable securities of ~$456M as of March 31, 2023.
- Restructuring costs ~$8M in Q2 2023; annual savings of ~$30M expected from headcount reduction.
- CFO Jillian Thomsen stepping down; Sandra Gardiner of FLG Partners appointed interim CFO.
- Pipeline focus on immunology (REZPEG) and NKTR-255; seeks partner for NKTR-255.

## SEC filing metadata
- accession: 0001213900-23-030323
- form_type: 8-K
- ticker: NKTR
- cik: 0000906709
- company_name: NEKTAR THERAPEUTICS
- filed_at: 2023-04-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/906709/000121390023030323/0001213900-23-030323-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/906709/000121390023030323/ea177029-8k_nektar.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-030323
- JSON: https://secwatch.observer/filing/0001213900-23-030323.json
- Plain text: https://secwatch.observer/filing/0001213900-23-030323.txt

## Key facts
- Executive change
  Sandra Gardiner was appointed as interim Chief Financial Officer at NEKTAR THERAPEUTICS.
  - Action: retained as
  - Role: interim Chief Financial Officer
  source text: Effective April 17, 2023, Sandra Gardiner, a partner in FLG Partners, LLC, a Silicon Valley chief financial officer services and board advisory firm (“FLG”), will be retained as the interim Chief Financial Officer and shall be the principal financial and accounting officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/906709/000121390023030323/0001213900-23-030323-index.htm
- Executive change
  Jillian Thomsen departed as Chief Financial Officer at NEKTAR THERAPEUTICS.
  - Action: stepped down
  - Role: Chief Financial Officer
  source text: On April 17, 2023, Jillian Thomsen stepped down as the Chief Financial Officer of the Company and will depart the Company in June 2023 following a transition period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/906709/000121390023030323/0001213900-23-030323-index.htm
- Restructurings & Charges
  NEKTAR THERAPEUTICS announced a restructuring with charges of non-recurring cash payments of approximately $8 million affecting San Francisco-based workforce (approximately 60%).
  - Type: restructuring
  - Charge: non-recurring cash payments of approximately $8 million
  - Affected area: San Francisco-based workforce
  - Headcount: approximately 60%
  source text: On April 17, 2023, the duly authorized officers of the “Company approved a new strategic reprioritization and cost restructuring plan (the “2023 Restructuring Plan”). Pursuant to the 2023 Restructuring Plan, the Company will undertake several cost-reduction actions to reduce costs, including a reduction in its San Francisco-based workforce by approximately 60% that is expected to be substantially completed by June 2023. In connection with these actions, the Company expects non-recurring cash payments of approximately $8 million primarily in the second quarter of 2023 associated principally with the workforce reduction, including one-time employee severance and termination payments.
  evidence_url: https://www.sec.gov/Archives/edgar/data/906709/000121390023030323/0001213900-23-030323-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.