Nektar Therapeutics Q2 net loss narrows to $51.1M; cash $409.4M, runway into mid-2026

NEKTAR THERAPEUTICS

2023-Q2 EPS reported -$0.99 revenue$42,093,000

Net loss $51.1M ($0.27/shr) vs $159.1M loss in Q2 2022; revenue $20.5M vs $21.6M.
Cash and marketable securities $409.4M, down from $505.0M at Dec 31, 2022; expects to fund ops into mid-2026.
R&D expense $29.7M (down 30% YoY) due to bempegaldesleukin wind-down; restructuring charges $16.6M.
Plans Phase 2b study of rezpegaldesleukin in atopic dermatitis; initial data in H1 2025; IND submission in 2024.
Corrected rezpegaldesleukin efficacy data previously miscalculated by Eli Lilly; evaluating NKTR-255 partnerships.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NEKTAR THERAPEUTICS reported the second quarter ended June 30, 2023 results: revenue $20.5 million, net income $51.1 million or $0.27 basic and diluted loss per share, EPS $0.27 basic and diluted loss per share.

Period: the second quarter ended June 30, 2023
Revenue: $20.5 million
Net income: $51.1 million or $0.27 basic and diluted loss per share
EPS: $0.27 basic and diluted loss per share
Result: reported results

Exact text from the filing

our Phase 2 studies of NKTR-255 in liquid and solid tumors as we evaluate strategic partnership pathways.” Summary of Financial Results Revenue in the second quarter of 2023 was $20.5 million as compared to $21.6 million in the second quarter of 2022. Revenue for the first half of 2023 was $42.1 million as compared to $46.4 million in the first half of 2022. Total

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Source: SEC EDGAR

accession 0001213900-23-064560

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