Quarterly ResultMay 7, 2026, 04:40 PM
Nektar Q1 Net Loss $44.9M; Cash & Investments $731.6M
AI Summary
Nektar Therapeutics reported a net loss of $44.9 million, or $1.82 per share, for Q1 2026, an improvement from a $50.9 million loss in Q1 2025. Revenue slightly increased to $10.9 million. The company significantly strengthened its balance sheet, with cash and investments reaching $731.6 million by March 31, 2026, excluding an additional $351 million from a secondary offering in April. Nektar highlighted positive clinical data for rezpegaldesleukin in atopic dermatitis and alopecia areata, with a Phase 3 program for atopic dermatitis set to begin by July 2026.
Key Highlights
- Cash and investments in marketable securities increased to $731.6 million as of March 31, 2026, from $245.8 million on December 31, 2025.
- Net loss for Q1 2026 was $44.9 million ($1.82/share), an improvement from $50.9 million ($3.62/share) in Q1 2025.
- Revenue for Q1 2026 was $10.9 million, a slight increase from $10.5 million in Q1 2025.
- Total operating costs and expenses decreased to $49.9 million in Q1 2026 from $55.0 million in Q1 2025.
- R&D expense increased to $35.7 million in Q1 2026 from $30.5 million in Q1 2025, driven by rezpegaldesleukin development.
- G&A expense decreased to $13.4 million in Q1 2026 from $24.3 million in Q1 2025, primarily due to lower legal expenses.
- Successfully closed a $373.8 million public offering in April 2026, further strengthening the balance sheet.
- Phase 3 ZENITH-AD program for moderate-to-severe atopic dermatitis is set to initiate by July 2026.