Nektar Therapeutics Files Q2 2024 10-Q

TL;DR

Nektar's Q2 10-Q is in. Check financials.

AI Summary

Nektar Therapeutics filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial figures and disclosures related to their business operations are presented.

Why It Matters

This filing provides investors and stakeholders with the latest financial health and operational status of Nektar Therapeutics, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — As a biopharmaceutical company, Nektar Therapeutics faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2834 — Standard Industrial Classification (Indicates the company operates in Pharmaceutical Preparations.)

Key Players & Entities

• NEKTAR THERAPEUTICS (company) — Filer
• 20240630 (date) — Period of Report
• 20240809 (date) — Filing Date
• 455 MISSION BAY BOULEVARD SOUTH, SAN FRANCISCO, CA 94158 (address) — Business and Mail Address

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value NKTR NASDAQ Capital Marke

Filing Documents

• nktr-20240630.htm (10-Q) — 1960KB
• nktr-ex10_16.htm (EX-10.1(6)) — 188KB
• nktr-ex31_1.htm (EX-31.1) — 13KB
• nktr-ex31_2.htm (EX-31.2) — 13KB
• nktr-ex32_1.htm (EX-32.1) — 9KB
• 0000950170-24-094231.txt ( ) — 7758KB
• nktr-20240630.xsd (EX-101.SCH) — 990KB
• nktr-20240630_htm.xml (XML) — 1390KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements — Unaudited: 6 Condensed Consolidated Balance Sheets — June 30, 2024 and December 31, 2023 6 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 7 Condensed Consolidated Statements of Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 8 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 9 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 10 Notes to Condensed Consolidated Financial Statements 11 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35

: OTHER INFORMATION

PART II: OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 58 Item 3. Defaults Upon Senior Securities 58 Item 4. Mine Safety Disclosures 58 Item 5. Other Information 58 Item 6. Exhibits 59

Signatures

Signatures 61 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements This report includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are "forward-looking statements" for purposes of this Quarterly Report on Form 10-Q, including any projections of market size, earnings, revenue, milestone payments, royalties, sales or other financial items, any statements of the plans and objectives of management for future operations (including, but not limited to, preclinical development, clinical trials and manufacturing), any statements related to our financial condition and future working capital needs, any statements related to our strategic reorganization and cost restructuring plans, any statements regarding potential future financing alternatives, any statements concerning proposed drug candidates and our future research and development plans, any statements regarding the timing for the start or end of clinical trials or submission of regulatory approval filings, any statements regarding future economic conditions or performance, any statements regarding the initiation, formation, or success of any collaboration arrangements, commercialization activities and product sales levels and future payments that may come due to us under these arrangements, any statements regarding our plans and objectives to initiate or continue clinical trials, any statements related to potential, anticipated, or ongoing litigation and any statements of assumptions underlying any of the foregoing. In some cases, forward-looking statements can be identified by the use of terminology such as "believe," "may," "will," "expects," "plans," "anticipates," "estimates," "potential" or "continue," or the negative thereof or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements contained herein are reaso

: FINANCI AL INFORMATION

PART I: FINANCI AL INFORMATION

Condensed Consolidated Financial Statements—Unaudited

Item 1. Condensed Consolidated Financial Statements—Unaudited: NEKTAR THERAPEUTICS CONDENSED CONSOLID ATED BALANCE SHEETS (In thousands, except par value) (Unaudited) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 27,940 $ 35,277 Short-term investments 243,295 268,339 Accounts receivable 1,196 1,205 Inventory, net 14,465 16,101 Other current assets 8,292 9,779 Total current assets 295,188 330,701 Long-term investments 19,405 25,825 Property, plant and equipment, net 15,187 18,856 Operating lease right-of-use assets 9,240 18,007 Other assets 4,314 4,644 Total assets $ 343,334 $ 398,033 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 6,475 $ 9,848 Accrued expenses 29,514 22,162 Operating lease liabilities, current portion 21,337 19,259 Total current liabilities 57,326 51,269 Operating lease liabilities, less current portion 90,763 98,517 Liabilities related to the sales of future royalties, net 107,506 112,625 Other long-term liabilities 8,051 4,635 Total liabilities 263,646 267,046 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.0001 par value; 10,000 shares authorized; no shares designated or outstanding at June 30, 2024 or December 31, 2023, respectively — — Common stock, $ 0.0001 par value; 300,000 shares authorized; 192,346 shares and 191,384 shares issued at June 30, 2024 and December 31, 2023, respectively; 184,061 shares and 191,384 shares outstanding at June 30, 2024 and December 31, 2023, respectively; 19 19 Capital in excess of par value 3,649,577 3,608,137 Treasury stock, at cost; 8,285 shares as of June 30, 2024 and none as of December 31, 2023, respectively ( 3,000 ) — Accumulated other comprehensive income (loss) ( 494 ) 80 Accumulated deficit ( 3,566,414 ) ( 3,477,249 ) T

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