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Mar 31, 2023
Nektar Q1 2023 Earnings Report
Nektar Therapeutics reported financial results for the first quarter ended March 31, 2023.
Key Takeaways
Nektar Therapeutics reported a revenue of $21.6 million for Q1 2023, compared to $24.8 million in Q1 2022. The net loss for the quarter was $137.0 million, or $0.73 loss per share, as compared to a net loss of $90.4 million, or $0.49 loss per share, in Q1 2022. Cash and investments in marketable securities were $456.8 million at the end of the quarter.
Nektar regained full rights to rezpegaldesleukin and is progressing towards initiating a Phase 2b study in atopic dermatitis.
The company is focusing on immunology to bring potential therapies to patients and create shareholder value.
Nektar is advancing its immunology research pipeline with the goal of advancing a new IND candidate next year.
Cash and investments in marketable securities are expected to support strategic development activities and operations into at least the middle of 2026.
Forward Guidance
This press release contains forward-looking statements regarding the therapeutic potential of rezpegaldesleukin and other drug candidates, the timing for filing a new IND, expectations regarding the 2023 cost restructuring plan, and the expected working capital and cash runway.
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