---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-023220"
form_type: "8-K"
ticker: "NKTR"
cik: "0000906709"
company_name: "NEKTAR THERAPEUTICS"
filed_at: "2025-03-12T23:59:59+00:00"
generated_at: "2026-05-24T23:03:34.756265+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Nektar Therapeutics reports Q4 net income $7.3M; rezpegaldesleukin Phase 2b data expected in 2025

## Summary
- Q4 net income $7.3M ($0.03 EPS) vs net loss $42.1M in Q4 2023; full year net loss $119M vs $276.1M.
- Revenue Q4 $29.2M (+22% YoY); cash $269.1M, expected to fund operations into Q4 2026.
- Rezpegaldesleukin Phase 2b topline data: atopic dermatitis in Q2 2025, alopecia areata in Q4 2025.
- FDA granted Fast Track designation for rezpegaldesleukin in moderate-to-severe atopic dermatitis.
- Sold PEGylation manufacturing business for $90M enterprise value ($70M cash + $20M equity).

## SEC filing metadata
- accession: 0001213900-25-023220
- form_type: 8-K
- ticker: NKTR
- cik: 0000906709
- company_name: NEKTAR THERAPEUTICS
- filed_at: 2025-03-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/906709/000121390025023220/0001213900-25-023220-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/906709/000121390025023220/ea0234060-8k_nektar.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-023220
- JSON: https://secwatch.observer/filing/0001213900-25-023220.json
- Plain text: https://secwatch.observer/filing/0001213900-25-023220.txt

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