Nektar Therapeutics Q4 sales fall, hurt by lower royalty revenue

Nektar Therapeutics

12/03/2026 20:46

Overview

US biotech developer's Q4 revenue declined yr/yr following facility sale and lower royalty revenue

Company completed $460 mln public offering in February 2026, strengthening financial position

Outlook

Company plans to start Phase 3 studies for rezpegaldesleukin in atopic dermatitis in Q2 2026

Nektar expects topline data from REZOLVE-AA study extension in alopecia areata in April 2026

Result Drivers

FACILITY SALE IMPACT - Revenue decreased due to the December 2024 sale of the Huntsville manufacturing facility, resulting in no product sales recognized in Q4 2025

LOWER ROYALTY REVENUE - Decrease in non-cash royalty revenue contributed to lower total revenue

Company press release: ID:nPn62pnN9a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
$21.8 mln
Q4 EPS
-$1.78
Q4 Net Income
-$36.1 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "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 $121.00, about 65% above its March 11 closing price of $73.33

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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.)