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Sep 30, 2021
Nektar Q3 2021 Earnings Report
Reported financial results for the third quarter ended September 30, 2021
Key Takeaways
Nektar Therapeutics reported revenue of $24.9 million and a net loss of $129.7 million for the third quarter of 2021. The company's cash and investments in marketable securities were approximately $955.3 million as of September 30, 2021.
Made significant progress across the portfolio, ahead of multiple late-stage registrational trial data readouts anticipated in the first half of 2022.
On track to report data from the first three of five registrational studies with nivolumab in melanoma, renal cell carcinoma and bladder cancer in the first half of 2022.
Plan to present initial data from PROPEL study evaluating the combination of bempegaldesleukin plus pembrolizumab in patients with previously untreated metastatic non-small cell lung cancer at the upcoming ESMO Immuno-Oncology meeting.
Expanded the development plans for NKTR-255 with a new clinical collaboration with Merck KGaA and Pfizer designed to evaluate the combination of NKTR-255 with avelumab, a PD-L1 inhibitor, in the JAVELIN Bladder Medley study.
Nektar
Nektar
Forward Guidance
Nektar anticipates multiple late-stage registrational trial data readouts in the first half of 2022 and plans to present initial data from the PROPEL study at the upcoming ESMO Immuno-Oncology meeting.
Positive Outlook
- Remain on track to report data from the first three of our five registrational studies with nivolumab in melanoma, renal cell carcinoma and bladder cancer in the first half of 2022.
- Plan to present initial data from our PROPEL study evaluating the combination of bempegaldesleukin plus pembrolizumab in patients with previously untreated metastatic non-small cell lung cancer at the upcoming ESMO Immuno-Oncology meeting.
- Partner Eli Lilly continues to advance a broad development program for NKTR-358.
- NKTR-358 demonstrating its potential to be transformative in the treatment of autoimmune disease.
- Plans to initiate additional Phase 2 studies in two different immune-mediated diseases.
Challenges Ahead
- Forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control.
- Actual results may differ materially from those indicated in the forward-looking statements.
- Therapeutic potential of bempegaldesleukin, NKTR-358 and NKTR-255 are based on preclinical and clinical findings and observations and are subject to change as research and development continue.
- Continued research and development for drug candidates is subject to substantial risks, including negative safety and efficacy findings in ongoing clinical studies.
- Risk of failure is high and can unexpectedly occur at any stage prior to regulatory approval.