NKTR

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Nektar Therapeutics

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Key Metrics

Previous Close: $76.08
52-Week Range: $26.45 – $109.00
Market Cap: $2.54B
P/E (TTM): —
EPS (TTM): -6.00
Dividend Yield: —

Advanced Metrics

Price/Book: 2.82
PEG Ratio: 0.31
Return on Equity: -35.76%
Return on Assets: -12.54%
Gross Margin: 100.00%
Operating Margin: -412.23%
Profit Margin: -287.84%
Current Ratio: 10.42
Debt/Equity: 0.15
Total Debt: $135.93M
Free Cash Flow: $-134.77M
Revenue Growth: -9.30%
Earnings Growth: —
Enterprise Value: $2.00B

NKTR Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$92.06M	$90.12M	$98.43M	$55.23M
Cost of Revenue	$21.64M	$33.77M	$30.69M	$0.00
Gross Profit	$70.42M	$56.35M	$67.74M	$55.23M
Research & Development	$218.32M	$114.16M	$120.91M	$117.33M
Selling, General & Admin	$92.33M	$77.42M	$76.75M	$68.67M
Operating Expenses	$310.66M	$191.58M	$197.66M	$186.00M
Operating Income	-$240.24M	-$135.22M	-$129.92M	-$130.77M
EBITDA	-$323.04M	-$243.11M	-$86.70M	-$128.28M
Pretax Income	-$364.98M	-$276.26M	-$119.20M	-$155.49M
Income Tax	$3.21M	-$200.00K	-$239.00K	-$138.00K
Net Income	-$368.20M	-$276.06M	-$118.96M	-$164.08M
Diluted EPS	-29.55	-21.75	-8.70	-9.73
Diluted Shares	12.48M	12.67M	13.71M	16.87M

NKTR Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$88.23M	$35.28M	$44.25M	$15.12M
Receivables	$8.40M	$2.25M	$1.61M	$1.78M
Inventory	$19.20M	$16.10M	$0.00	—
Current Assets	$545.97M	$330.70M	$261.29M	$266.27M
Total Assets	$710.60M	$398.03M	$303.85M	$280.41M
Current Liabilities	$68.20M	$51.27M	$61.40M	$53.54M
Total Debt	$131.50M	$117.78M	$102.56M	$85.75M
Total Liabilities	$343.96M	$267.05M	$243.11M	$190.57M
Retained Earnings	-$3.20B	-$3.48B	-$3.60B	-$3.76B
Shareholders' Equity	$366.64M	$130.99M	$60.74M	$89.83M
Working Capital	$477.76M	$279.43M	$199.89M	$212.73M

NKTR Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$304.01M	-$192.61M	-$175.71M	-$208.51M
Capital Expenditure	-$5.68M	-$865.00K	-$1.47M	-$171.00K
Free Cash Flow	-$309.68M	-$193.47M	-$177.18M	-$208.68M
Depreciation & Amortisation	$13.03M	$7.82M	$4.39M	$1.03M
Stock-Based Compensation	$57.32M	$33.39M	$21.61M	$12.65M
Investing Cash Flow	$365.83M	$139.56M	$142.57M	-$1.20M
Financing Cash Flow	$1.51M	$30.00K	$42.12M	$180.57M
Share Repurchases	—	$0.00	-$3.00M	$0.00
Net Change in Cash	$63.34M	-$53.01M	$8.98M	-$29.14M

NKTR Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$10.46M	$11.18M	$11.79M	$21.81M	$10.86M
Cost of Revenue	$0.00	$0.00	$0.00	$0.00	—
Gross Profit	$10.46M	$11.18M	$11.79M	$21.81M	—
Research & Development	$30.48M	$29.89M	$27.25M	$29.71M	$35.68M
Selling, General & Admin	$24.35M	$17.07M	$16.07M	$11.19M	$13.44M
Operating Expenses	$54.83M	$46.96M	$43.32M	$40.90M	$49.12M
Operating Income	-$44.37M	-$35.78M	-$31.53M	-$19.09M	-$38.26M
EBITDA	-$40.97M	-$33.79M	-$28.78M	-$24.74M	-$35.00M
Pretax Income	-$46.37M	-$39.40M	-$35.02M	-$34.70M	-$43.09M
Income Tax	$52.00K	-$188.00K	-$33.00K	$31.00K	$64.00K
Net Income	-$50.88M	-$41.59M	-$35.52M	-$36.08M	-$44.90M
Diluted EPS	-3.60	-2.95	-1.87	-1.78	-1.82
Diluted Shares	14.06M	14.09M	18.95M	20.30M	24.74M

NKTR Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$38.89M	$42.99M	$41.03M	$15.12M	$149.58M
Receivables	$1.71M	$1.35M	$1.29M	$1.78M	$3.60M
Current Assets	$229.91M	$186.57M	$281.36M	$266.27M	$589.04M
Total Assets	$256.24M	$207.53M	$301.35M	$280.41M	$763.27M
Current Liabilities	$70.93M	$71.39M	$66.34M	$53.54M	$57.71M
Total Debt	$100.34M	$96.16M	$91.92M	$85.75M	$83.16M
Total Liabilities	$242.50M	$231.75M	$216.26M	$190.57M	$187.06M
Retained Earnings	-$3.65B	-$3.69B	-$3.72B	-$3.76B	-$3.81B
Shareholders' Equity	$13.74M	-$24.21M	$85.09M	$89.83M	$576.22M
Working Capital	$158.98M	$115.17M	$215.02M	$212.73M	$531.33M

NKTR Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$49.05M	-$45.74M	-$48.76M	-$64.96M	-$44.30M
Capital Expenditure	-$2.00K	-$37.00K	-$114.00K	-$18.00K	-$18.00K
Free Cash Flow	-$49.05M	-$45.77M	-$48.88M	-$64.98M	-$44.32M
Depreciation & Amortisation	$426.00K	$214.00K	$196.00K	$190.00K	$151.00K
Stock-Based Compensation	$3.90M	$3.49M	$3.07M	$2.19M	$3.35M
Investing Cash Flow	$43.69M	$49.62M	-$94.87M	$372.00K	-$350.79M
Financing Cash Flow	$7.00K	$211.00K	$141.68M	$38.67M	$529.55M
Share Repurchases	$0.00	$0.00	$0.00	$0.00	—
Net Change in Cash	-$5.36M	$4.09M	-$1.96M	-$25.92M	$134.46M

Market Snapshot

About

Nektar Therapeutics is a biopharmaceutical company developing innovative therapies in immuno-oncology and immunology using its proprietary drug platform technologies. The company focuses on polymer conjugate technology to modify and optimize drug candidates. Nektar has multiple clinical-stage programs aimed at treating cancer and autoimmune diseases.