{"id":873003,"date":"2025-08-07T19:32:23","date_gmt":"2025-08-07T23:32:23","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-reports-second-quarter-2025-financial-results\/"},"modified":"2025-08-07T19:32:23","modified_gmt":"2025-08-07T23:32:23","slug":"nektar-therapeutics-reports-second-quarter-2025-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nektar-therapeutics-reports-second-quarter-2025-financial-results\/","title":{"rendered":"Nektar Therapeutics Reports Second Quarter 2025 Financial Results"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n SAN FRANCISCO<\/span>
\n <\/span>, Aug. 7, 2025<\/span><\/span> \/PRNewswire\/ — Nektar Therapeutics (Nasdaq: NKTR) today reported financial results for the second quarter ended June 30, 2025<\/span>.<\/p>\n

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Cash and investments in marketable securities on June 30, 2025<\/span> were $175.9 million<\/span> as compared to $269.1<\/span> million\u00a0on\u00a0December 31, 2024. Nektar’s cash and marketable securities at June 30, 2025<\/span> do not include $107.5 million<\/span> of approximate net proceeds from the secondary offering closed on July 2<\/span>, 2025.\u00a0 With the net proceeds from the secondary offering, we expect our cash and investments in marketable securities to support our operations into the first quarter of 2027.<\/p>\n

“This quarter, we announced transformative data for rezpegaldesleukin from the Phase 2b<\/span> study in patients with moderate to severe atopic dermatitis,” said\u00a0Howard W. Robin, President and CEO of Nektar. “The 16-week induction data demonstrated that rezpegaldesleukin resulted in a rapid onset of EASI response and itch relief and showcased the advantage of a broad-based Treg mechanism over other mechanistic approaches in development to treat atopic dermatitis. We look forward to seeing the effect of continued treatment with rezpegaldesleukin when we report the 52-week data in early 2026. In alopecia areata, we will report the data from a separate Phase 2b<\/span> study in December of this year.\u00a0 We believe the data from both randomized studies will demonstrate the potential of rezpegaldesleukin to provide a new treatment paradigm for patients with chronic and serious diseases that significantly impact quality of life.\u00a0 As a first-in-class, T regulatory cell biologic, rezpegaldesleukin is poised to become an important novel mechanism to treat millions of patients with autoimmune disorders.”<\/p>\n

“We are proceeding in our IND-enabling studies for our next T reg program, NKTR-0165, which targets the TNFR2 receptor to stimulate tissue-specific T regulatory cells,” continued Robin. “Our goal is to advance NKTR-0165 into the clinic in 2026. Finally, we are making significant progress on advancing preclinical studies with a new bispecific antibody, NKTR-0166, which combines the TNFR2 epitope with a validated antibody target.”<\/p>\n

\n Summary of Financial Results<\/b>\n <\/p>\n

Revenue in the second quarter of 2025 was $11.2 million<\/span> as compared to $23.5 million<\/span> in the second quarter of 2024. Revenue for the first half of 2025 was\u00a0$21.6 million\u00a0as compared to\u00a0$45.1 million\u00a0in the first half of 2024. Revenue has decreased year over year because we no longer recognize product sales due to the sale of the Huntsville manufacturing facility in December 2024<\/span>.<\/p>\n

Total operating costs and expenses in the second quarter of 2025 were $47.4 million<\/span> as compared to $73.3 million<\/span> in the second quarter of 2024. Total operating costs and expenses in the first half of 2025 were $102.4 million<\/span> as compared to $130.3 million<\/span> in the first half of 2024. Operating costs and expenses for the first half of 2025 decreased due to the elimination of cost of goods sold following the sale of the Huntsville manufacturing facility, as well as a decrease in restructuring and impairment charges. \u00a0<\/p>\n

R&D expense in the second quarter of 2025 was $29.9 million<\/span> as compared to $29.7 million<\/span> for the second quarter of 2024. R&D expense in the first half of 2025 was $60.4 million<\/span> as compared to $57.1 million<\/span> for the first half of 2024. R&D expense increased for the first half of 2025 primarily due to an increase in expenses for the development of rezpegaldesleukin and NKTR-0165, partially offset by a decrease in expense for the development of NKTR-255.<\/p>\n

G&A expense was $17.1 million<\/span> in the second quarter of 2025 as compared to $20.5 million<\/span> in the second quarter of 2024. G&A expense was\u00a0$41.4 million\u00a0in the first half of 2025 as compared to\u00a0$40.7 million\u00a0in the first half of 2024. G&A expense increased slightly in the first half of 2025 due to an increase in legal expenses, partially offset by decreases in facilities and stock-based compensation expenses.<\/p>\n

Non-cash restructuring and impairment charges were not material in the second quarter and first half of 2025. Non-cash restructuring and impairment charges in the second quarter of 2024 were\u00a0$13.3 million\u00a0and\u00a0$14.3 million\u00a0in the first half of 2024. These non-cash charges were related to the declining\u00a0San Francisco\u00a0commercial real estate market and real estate lease obligations held by Nektar.<\/p>\n

In the first quarter of 2025, we began accounting for our investment in the new portfolio company, Gannet BioChem, under the equity method of accounting which calculates our gain or loss based on the change in our share of Gannet BioChem’s equity each quarter. This resulted in non-cash losses from the equity method investment of $2.4 million<\/span> in the second quarter of 2025 and $6.8 million<\/span> in the first half of 2025.<\/p>\n

Net loss for the second quarter of 2025 was $41.6 million<\/span> or $2.95<\/span> basic and diluted loss per share as compared to a net loss of $52.4 million<\/span> or $3.76<\/span>1<\/sup> basic and diluted loss per share in the second quarter of 2024. Net loss in the first half of 2025 was $92.5 million<\/span> or $6.57<\/span> basic and diluted loss per share as compared to a net loss of $89.2 million<\/span> or $6.63<\/span>1<\/sup> basic and diluted loss per share in the first half of 2024. Excluding the $2.4 million<\/span> and $6.8 million<\/span> non-cash loss from our equity method investment in Gannet BioChem, net loss, on a non-GAAP basis, for the second quarter and first half of 2025 were $39.2 million<\/span> and $85.6 million<\/span>, respectively, or $2.78<\/span> and $6.08<\/span> basic and diluted loss per share, respectively.<\/p>\n

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\n 1<\/sup>\u00a0The per share amounts have been retrospectively adjusted to reflect a one-for-fifteen reverse stock split completed on June 8, 2025.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

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