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NKTRNektar Therapeutics
$74.90$1.5B
Overview & Verdict
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NKTR logoNektar Therapeutics(NKTR)Earnings, Financials & Key Ratios

NKTR•NASDAQ
$74.90
Price updated Jul 7, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryImmunology and Inflammation Therapies
AboutNektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19. It is also developing NKTR-358, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 1B clinical trial to treat atopic dermatitis and psoriasis; NKTR-255, an IL-15 receptor agonist, which is in phase 1/2 clinical trial for the treatment of non-Hodgkin's lymphoma and multiple myeloma, and head and neck cancer and colorectal cancer; and NKTR-262, a toll-like receptor agonist that is in phase 1/2 clinical trial to treat solid tumors, as well as various other drug candidates. The company has collaboration agreements with Takeda Pharmaceutical Company Ltd.; AstraZeneca AB; UCB Pharma S.A.; F. Hoffmann-La Roche Ltd; Bausch Health Companies Inc.; Pfizer Inc.; Amgen Inc.; UCB Pharma (Biogen); Bristol-Myers Squibb Company; Baxalta Incorporated; Eli Lilly and Company; Merck KGaA; and SFJ Pharmaceuticals, Inc. Nektar Therapeutics was incorporated in 1990 and is headquartered in San Francisco, California.Show more
  • Revenue$55M-43.9%
  • EBITDA-$130M-28.7%
  • Net Income-$164M-37.9%
  • EPS (Diluted)-9.73-12.1%
  • Gross Margin100%+45.3%
  • EBITDA Margin-234.91%-129.4%
  • Operating Margin-236.77%-121.5%
  • Net Margin-297.07%-145.8%
  • ROE-217.94%-75.6%

NKTR Price & Volume

Nektar Therapeutics (NKTR) stock price & volume — 10-year historical chart

Loading chart...

Persistent Cash Burn Threatens Nektar Operational Viability

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Contracting
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Imminent liquidity and solvency

Key Thesis Takeaways

  • Nektar Therapeutics faces a precarious financial outlook characterized by a rapid contraction in revenue, which fell from $29.2M in 2024Q4 to $10.9M by 2026Q1, and an unsustainable reliance on lumpy milestone payments.
  • The company's inability to scale operations efficiently is evidenced by persistent quarterly operating losses that reached $38.3M in 2026Q1, further straining its limited liquidity.
  • Investors should remain cautious as the firm's cash reserves, which dwindled to $15.1M by 2025Q4, appear insufficient to support its ongoing R&D-heavy business model without significant external capital infusion.

Verdict Logic

the company's precarious cash position of $15.1M as of 2025Q4 against a $38.3M quarterly operating loss in 2026Q1 suggests an imminent risk of insolvency or dilutive financing.

NKTR Growth Metrics

Nektar Therapeutics (NKTR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-13.32%
5 Years-18.43%
3 Years-15.66%
TTM-36.24%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-18.83%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM11.65%

Return on Capital

10 Years-21.51%
5 Years-36.85%
3 Years-39.74%
Last Year-55.73%

NKTR Recent Earnings

Nektar Therapeutics (NKTR) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
May 7, 2026
Metric
Actual
Est
EPS
$1.82-4.6%
$1.74
Rev
$11M+1.6%
$11M
Q2 2026
Mar 12, 2026
Metric
Actual
Est
EPS
$1.78+35.5%
$2.76
Rev
$22M+114.0%
$10M
Q4 2025
Nov 6, 2025
Metric
Actual
Est
EPS
$1.85+35.1%
$2.85
Rev
$12M+12.9%
$10M
Q3 2025
Aug 7, 2025
Metric
Actual
Est
EPS
$2.95+5.8%
$3.13
Rev
$11M+18.7%
$9M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 7, 2026
$1.82vs $1.74-4.6%
$11Mvs $11M+1.6%
Q2 2026Mar 12, 2026
$1.78vs $2.76+35.5%
$22Mvs $10M+114.0%
Q4 2025Nov 6, 2025
$1.85vs $2.85+35.1%
$12Mvs $10M+12.9%
Q3 2025Aug 7, 2025
$2.95vs $3.13+5.8%
$11Mvs $9M+18.7%
Based on last 12 quarters of dataView full earnings history →

Latest NKTR News

Recent stock market news and headlines for Nektar Therapeutics (NKTR)

PRNewsWire·Jun 26, 2026
Nektar Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

SAN FRANCISCO, June 26, 2026 /PRNewswire/ -- Nektar Therapeutics (NASDAQ: NKTR) today announced that, on June 19, 2026, the Organization and Compensation Committee of Nektar's Board of Directors granted non-qualified stock options to purchase an aggregate of 20,500 shares of its common stock and 3,900 restricted stock units (RSUs) to seven newly-hired employees under Nektar's 2025 Inducement Plan. Nektar's 2025 Inducement Plan was adopted by its Board of Directors on November 6, 2025 and is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Nektar (or following a bona fide period of non-employment), as an inducement material to such individual's entering into employment with Nektar, pursuant to Nasdaq Listing Rule 5635(c)(4).

The Motley Fool·Jun 24, 2026
What a $1.2 Million Insider Sale Means for Nektar With Shares Up 160% This Past Year

Robin sold 20,000 shares over two days for a transaction value of $1.22 million at a weighted average price of $60.75 per share. This sale represented 26.64% of his direct common stock holdings and reduced his direct position from 75,073 to 55,045 shares.

24/7 Wall Street·Jun 23, 2026
3 Biotech Takeover Targets Wall Street Is Watching After the Apogee Deal

Big pharma's appetite for clinical-stage biotech is back. The pending acquisition of Apogee Therapeutics by AbbVie (NYSE: ABBV | ABBV Price Prediction), targeting an atopic dermatitis and immunology developer, has reignited a question every healthcare portfolio manager is asking: who will be next?

Peers Comparison

Key metrics vs top competitors for Nektar Therapeutics (NKTR)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
NKTR logoNKTRNektar TherapeuticsCurrent
$74.90$1.46B-7.70-43.89%-297.07%-217.94%—
HALO logoHALOHalozyme Therapeutics, Inc.
$81.57$9.68B31.8637.55%23.13%126.27%—
ARWR logoARWRArrowhead Pharmaceuticals, Inc.
$86.97$12.25B-7128.6923258.15%-48.38%-55.09%—
ALNY logoALNYAlnylam Pharmaceuticals, Inc.
$321.59$42.91B138.0265.19%13.46%98.29%—
IONS logoIONSIonis Pharmaceuticals, Inc.
$86.33$14.27B-36.2733.87%-30.87%-58.57%—
EXEL logoEXELExelixis, Inc.
$57.08$14.5B20.536.98%35.08%40.21%—

Compare NKTR vs Peers

Nektar Therapeutics (NKTR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs HALO

Most directly comparable listed peer for NKTR.

Scale Benchmark

vs LLY

Larger-name benchmark to compare NKTR against a more recognizable public peer.

Peer Set

Compare Top 5

vs HALO, ARWR, ALNY, IONS

NKTR SEC Filings & Documents

Nektar Therapeutics (NKTR) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 8, 2026·SEC

Material company update

May 7, 2026·SEC

Material company update

Apr 23, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 13, 2026·SEC

FY 2025

Mar 14, 2025·SEC

FY 2024

Mar 5, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 8, 2026·SEC

FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

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NKTR Frequently Asked Questions

Nektar Therapeutics (NKTR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Nektar Therapeutics's revenue?

Nektar Therapeutics (NKTR) reported $55.6M in revenue for fiscal year 2025. This represents a 706% increase from $6.9M in 1996.

How fast is Nektar Therapeutics growing?

Nektar Therapeutics (NKTR) saw revenue decline by 43.9% over the past year.

Is NKTR profitable?

Nektar Therapeutics (NKTR) reported a net loss of $158.1M for fiscal year 2025.

Dividend & Returns
What is NKTR's return on equity?

Nektar Therapeutics (NKTR) has a return on equity (ROE) of -217.9%. Negative ROE indicates the company is unprofitable.

What is Nektar Therapeutics's free cash flow?

Nektar Therapeutics (NKTR) had negative free cash flow of $203.9M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in NKTR back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →