NKTR NEKTAR THERAPEUTICS
Price Chart
Executive Summary
Nektar Therapeutics reported Q1 2026 revenue of $10.9M (+3.8% YoY) and a net loss of $44.9M ($1.82 per share), improving from a $50.9M loss in Q1 2025. The EPS of -$1.82 missed the consensus estimate of -$1.74 by 4.6%. The balance sheet strengthened significantly with $731.6M in cash and investments following recent capital raises totaling ~$834M in February and April 2026.
Actionable Insight
The earnings are overshadowed by pipeline catalysts—focus on the upcoming ZENITH-AD Phase 3 initiation and End-of-Phase 2 meeting with FDA for alopecia areata. The strong cash position reduces near-term dilution risk, but the EPS miss may pressure the stock. Monitor for clinical data readouts in H2 2026.
Key Facts
- Revenue $10.9M vs $10.5M YoY (+3.8%)
- Net loss $44.9M vs $50.9M YoY (improved)
- EPS -$1.82 vs consensus -$1.74 (4.6% miss)
- Cash and investments $731.6M at Mar 31, 2026 (up from $245.8M at Dec 31, 2025)
- Recent offerings raised ~$834M: $460M in Feb and $374M in Apr 2026
- Phase 3 ZENITH-AD program in atopic dermatitis to initiate by July 2026
Financial Impact
Revenue growth minimal; net loss improved by 12% YoY; cash position strengthened by ~$486M from offerings
Risk Factors
- Clinical trial failure risk for rezpegaldesleukin
- Continued operating losses with no near-term product revenue
- Share dilution from recent offerings (though already executed)
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-053369 |
| Document: ea0289611-8k_nektar.htm | 0001213900-26-053369 |
| Document: 0001213900-26-053369-index-headers.html | 0001213900-26-053369 |
| Document: 0001213900-26-053369-index.html | 0001213900-26-053369 |
| Document: 0001213900-26-053369.txt | 0001213900-26-053369 |
| 8-K Data (Synthetic) | 0001213900-26-053369 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
1d ago
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Institutional Cluster
| $59.51 awaiting T+5 | awaiting T+5 | — | $59.38 (−0.22%) |
|
Jun 11, 2026
2d ago
|
Institutional Cluster
| $57.18 awaiting T+5 | awaiting T+5 | — | $59.38 (+3.85%) |
|
May 21, 2026
22d ago
|
Insider Cluster
| $66.61 $63.86 | ▲ +4.13% | ▲ +5.79% | $59.38 (+10.85%) |
|
May 8, 2026
5w ago
|
8-K
| $78.72 $68.43 | ▲ +13.07% | ▲ +12.99% | $59.38 (+24.57%) |
|
May 7, 2026
5w ago
|
8-K
| $81.89 $74.33 | ▼ −9.23% | ▼ −10.70% | $59.38 (−27.49%) |
|
Apr 24, 2026
7w ago
|
DEFA14A
| $86.74 $86.89 | ▲ +0.17% | ▼ −0.23% | $59.38 (−31.54%) |
|
Apr 23, 2026
7w ago
|
8-K
| $91.26 $83.20 | ▼ −8.83% | ▼ −10.31% | $59.38 (−34.93%) |
|
Apr 23, 2026
7w ago
|
424B5
| $91.26 $83.20 | ▼ −8.83% | ▼ −10.31% | $59.38 (−34.93%) |
|
Apr 20, 2026
7w ago
|
424B5
| $98.16 $83.81 | ▼ −14.62% | ▼ −15.70% | $59.38 (−39.51%) |
|
Apr 20, 2026
7w ago
|
8-K
| $98.16 $83.81 | ▼ −14.62% | ▼ −15.70% | $59.38 (−39.51%) |
US Market Status
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