Nektar Q4 net loss $42.1M; cash $329.4M; $15M royalty amendment & $30M placement

NEKTAR THERAPEUTICS

Q4 revenue $23.9M (up from $22.0M); Q4 net loss $42.1M ($0.22/sh) vs $59.7M ($0.32).
Cash and investments $329.4M at Dec 31, 2023, down from $505.0M; runway into Q3 2026.
Received $15M from Healthcare Royalty to cancel reversionary interest in royalties.
Completed $30M private placement with TCG Crossover Fund in March 2024.
Phase 2b study of rezpegaldesleukin for atopic dermatitis initiated; data expected H1 2025.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEKTAR THERAPEUTICS reported the fourth quarter and year ended December 31, 2023 results: revenue $23.9 million, net income $42.1 million or $0.22 basic and diluted loss per share.

Period: the fourth quarter and year ended December 31, 2023
Revenue: $23.9 million
Net income: $42.1 million or $0.22 basic and diluted loss per share
Result: reported results

Exact text from the filing

we are also conducting IND-enabling studies for NKTR-0165, our novel agonist antibody targeting TNFR2.” Summary of Financial Results Revenue in the fourth quarter of 2023 was $23.9 million as compared to $22.0 million in the fourth quarter of 2022. Revenue for the year ended December 31, 2023 was $90.1 million as compared to $92.1 million in 2022. Total operating

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEKTAR THERAPEUTICS reported the year ended December 31, 2023 results: revenue $90.1 million, net income $276.1 million or $1.45 basic and diluted loss per share.

Period: the year ended December 31, 2023
Revenue: $90.1 million
Net income: $276.1 million or $1.45 basic and diluted loss per share
Result: reported results

Exact text from the filing

Revenue for the year ended December 31, 2023 was $90.1 million as compared to $92.1 million in 2022.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NEKTAR THERAPEUTICS amended Amendment No 1 to Purchase and Sale Agreement with Healthcare Royalty valued at $15 million cash payment (effective 2024-03-04).

Action: amendment
Agreement: asset purchase
Counterparty: Healthcare Royalty
Value: $15 million cash payment
Effective: 2024-03-04

Exact text from the filing

On March 4, 2024, Nektar Therapeutics (“Nektar”) and entities managed by Healthcare Royalty entered into an Amendment No 1. (the “Amendment”) to that certain Purchase and Sale Agreement, dated as of December 16, 2020, as more fully described in Nektar’s Current Report on Form 8-K filed on December 22, 2020 (the “Purchase Agreement”).

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Source: SEC EDGAR

accession 0001213900-24-019557

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