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Mar 31, 2020
Nektar Q1 2020 Earnings Report
Reported financial results for the first quarter ended March 31, 2020.
Key Takeaways
Nektar Therapeutics reported Q1 2020 financial results, with revenue increasing to $50.6 million compared to $28.2 million in Q1 2019, primarily due to a milestone payment from Bristol-Myers Squibb. The net loss for the quarter was $138.7 million, or $0.78 per share, compared to a net loss of $119.6 million, or $0.69 per share, in Q1 2019. The company's cash and investments in marketable securities were approximately $1.5 billion as of March 31, 2020.
Revenue increased to $50.6 million, up from $28.2 million in the first quarter of 2019.
A $25.0 million milestone payment from Bristol-Myers Squibb contributed to the revenue increase.
Net loss was $138.7 million, or $0.78 per share, compared to a net loss of $119.6 million, or $0.69 per share, in the first quarter of 2019.
Cash and investments in marketable securities were approximately $1.5 billion as of March 31, 2020.
Nektar
Nektar
Forward Guidance
Nektar expects enrollment and study starts managed by partners will likely be delayed from three to six months due to COVID-19 but the company's strong financial position provides a solid foundation.
Challenges Ahead
- Enrollment and study starts managed by partners will likely be delayed from three to six months.