Nektar Q2 Revenue Falls to $10.1M, Net Loss Narrows to $40.6M
NKTR has more than doubled off its 52-week low of $23.675.
Summary
Nektar reported Q2 revenue of $10.13 million, down year-over-year due to lower non-cash royalty revenue, while net loss narrowed to $40.62 million ($1.23 per share) as reduced G&A costs offset higher R&D spending. The company completed a $373.8 million public offering and started Phase 3 trials for rezpegaldesleukin, with initial data readouts expected mid-2028 and a BLA submission targeted for 2029. This follows the Q1 report showing over $1 billion in equity financing and an extended cash runway. The results are in line with the company's investment-heavy development phase, and the stock trades at $76.3 with a median analyst price target of $151.
At the time of this announcement, NKTR was trading at $76.30 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $23.68 to $109.00. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.