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Jun 30, 2022
Nektar Q2 2022 Earnings Report
Nektar's financial performance declined in Q2 2022 due to restructuring and program termination costs, despite focusing on promising biologic candidates.
Key Takeaways
Nektar Therapeutics reported a decrease in revenue and a net loss for Q2 2022, impacted by restructuring costs related to the wind down of the bempegaldesleukin program. The company is focusing on its biologic therapeutic candidates, NKTR-358 and NKTR-255, and has sufficient capital to fund its pipeline.
Revenue decreased to $21.6 million compared to $28.3 million in Q2 2021.
Net loss was $159.1 million, or $0.85 loss per share, compared to a net loss of $125.5 million, or $0.69 loss per share in Q2 2021.
Operating costs and expenses included $57.3 million in non-cash impairment charges and $27.8 million in severance expense due to the bempegaldesleukin program wind down.
Cash and investments were approximately $628.2 million at June 30, 2022, expected to support operations into 2025.
Nektar
Nektar
Forward Guidance
Nektar is prioritizing investment into biologic therapeutic candidates and anticipates presenting data in the coming months.