# Nektar Therapeutics Inc. (NKTR)

**Exchange:** NASDAQ  
**Sector:** Healthcare  
**Market cap:** $958M  
**Price:** $56.78 (+0.98%)

> Nektar Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing therapies that selectively modulate the immune system to treat autoimmune disorders and chronic inflammatory diseases in the United States and internationally. Its lead product candidate, rezpegaldesleukin (also known as REZPEG or NKTR-358), is a novel regulatory T cell stimulator and IL-2 pathway agonist designed to restore immune system balance in conditions such as moderate-to-severe atopic dermatitis, severe-to-very-severe alopecia areata, and Type 1 diabetes mellitus. The company is advancing rezpegaldesleukin through Phase 2b clinical trials, including the REZOLVE-AD and REZOLVE-AA studies, which evaluate subcutaneous injections for efficacy in disease control and patient outcomes. Beyond its lead asset, Nektar Therapeutics Inc. maintains a pipeline of investigational programs targeting immune pathways, such as a preclinical bivalent tumor necrosis factor receptor type II agonist, bispecific molecules NKTR-0165 and NKTR-0166, a modified hematopoietic colony stimulating factor protein NKTR-422, and NKTR-255, an IL-15 receptor agonist developed in collaboration for oncology applications to enhance anti-tumor immune responses. Founded in 1990 and headquartered in San Francisco, California, Nektar Therapeutics Inc. leverages expertise in polymer chemistry and immunology to create highly selective medicines addressing unmet needs in immunotherapy.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $55M | $55M | -$140M | -$164M | — |
| 2024 | $98M | $68M | -$105M | -$119M | — |
| 2023 | $90M | $56M | -$264M | -$276M | — |
| 2022 | $92M | $70M | -$376M | -$368M | — |
| 2021 | $102M | $77M | -$446M | -$524M | — |
| 2020 | $153M | $133M | -$425M | -$444M | — |
| 2019 | $115M | $93M | -$440M | -$441M | — |
| 2018 | $1.19B | $1.17B | $688M | $681M | — |
| 2017 | $308M | $277M | -$60M | -$97M | — |
| 2016 | $165M | $135M | -$113M | -$154M | — |
| 2015 | $231M | $197M | -$29M | -$81M | — |
| 2014 | $201M | $172M | -$16M | -$54M | — |
| 2013 | $149M | $110M | -$120M | -$162M | — |
| 2012 | $81M | $51M | -$141M | -$172M | — |
| 2011 | $71M | $50M | -$124M | -$134M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $280M | $191M | $90M | $15M | — |
| 2024 | $304M | $243M | $61M | $44M | — |
| 2023 | $398M | $267M | $131M | $35M | — |
| 2022 | $711M | $344M | $367M | $88M | — |
| 2021 | $1.12B | $438M | $680M | $25M | — |
| 2020 | $1.54B | $461M | $1.08B | $199M | — |
| 2019 | $1.98B | $572M | $1.41B | $96M | — |
| 2018 | $2.15B | $433M | $1.72B | $195M | — |
| 2017 | $509M | $421M | $88M | $5M | — |
| 2016 | $569M | $481M | $88M | $60M | — |
| 2015 | $499M | $492M | $6M | $56M | — |
| 2014 | $442M | $405M | $36M | $12M | — |
| 2013 | $435M | $524M | -$90M | $39M | — |
| 2012 | $498M | $451M | $47M | $25M | — |
| 2011 | $607M | $409M | $198M | $15M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$209M | $171,000 | -$209M |
| 2024 | -$176M | $1M | -$177M |
| 2023 | -$193M | $865,000 | -$193M |
| 2022 | -$304M | $6M | -$310M |
| 2021 | -$413M | $15M | -$428M |
| 2020 | -$313M | $7M | -$321M |
| 2019 | -$329M | $26M | -$355M |
| 2018 | $718M | $14M | $704M |
| 2017 | -$80M | $10M | -$90M |
| 2016 | -$117M | $6M | -$123M |
| 2013 | -$39M | $4M | -$43M |
| 2012 | -$130M | $11M | -$140M |
| 2011 | -$114M | $10M | -$123M |
| 2010 | -$56M | $31M | -$87M |
| 2009 | $40M | $16M | $23M |

Source: [CompaniesByCap](https://companiesbycap.com/company/NKTR)