Nektar Therapeutics Q2 revenue falls, net loss narrows

Nektar Therapeutics

13/08/2026 21:26

Overview
US biotech developer's Q2 revenue declined yr/yr, reflecting lower non-cash royalty revenue
Net loss for Q2 narrowed slightly as higher R&D expenses were offset by lower G&A costs
Company completed $373.8 mln public offering and started Phase 3 trials for lead candidate

Outlook
Company expects initial Phase 3 data readouts for rezpegaldesleukin in mid-2028
Nektar plans to start a Phase 3 study in alopecia areata in early 2027
Company anticipates first BLA submission for rezpegaldesleukin in 2029

Result Drivers
R&D SPENDING - Higher R&D expense driven by start of Phase 3 ZENITH AD trials and manufacturing activities for rezpegaldesleukin
LOWER G&A COSTS - General and administrative expense decreased, mainly due to reduced legal expenses
EQUITY INVESTMENT LOSS - Non-cash loss from equity method investment in Gannet BioChem was smaller than prior year

Company press release: ID:nPn8CR61Ma

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Total Revenue
 
$10.13 mln
 
Q2 Loss Per Share
 
$1.23
 
Q2 Net Loss
 
$40.62 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Nektar Therapeutics is $151.00, about 98.6% above its August 12 closing price of $76.03

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)