Nektar Therapeutics Files Q3 2024 10-Q

TL;DR

NKTR Q3 10-Q filed. Financials and operations updated.

AI Summary

Nektar Therapeutics filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and disclosures related to the company's ongoing operations and strategic initiatives are presented.

Why It Matters

This filing provides investors with the latest financial health and operational status of Nektar Therapeutics, crucial for understanding its current market position and future prospects.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Nektar Therapeutics faces inherent risks related to drug development, regulatory approvals, and market competition, which are detailed in its SEC filings.

Key Numbers

• 2024-09-30 — Reporting Period End Date (The 10-Q covers financial data up to this date.)
• 2024-11-08 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• NEKTAR THERAPEUTICS (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241108 (date) — Filing Date
• SAN FRANCISCO (location) — Business Address City
• 4154825300 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• nktr-20240930.htm (10-Q) — 2193KB
• nktr-ex31_1.htm (EX-31.1) — 14KB
• nktr-ex31_2.htm (EX-31.2) — 14KB
• nktr-ex32_1.htm (EX-32.1) — 9KB
• 0000950170-24-123570.txt ( ) — 8419KB
• nktr-20240930.xsd (EX-101.SCH) — 1077KB
• nktr-20240930_htm.xml (XML) — 1609KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements — Unaudited: 6 Condensed Consolidated Balance Sheets — September 30, 2024 and December 31, 2023 6 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 7 Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 8 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 9 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 11 Notes to Condensed Consolidated Financial Statements 12 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 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39

: OTHER INFORMATION

PART II: OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 40 Item 1A.

Risk Factors

Risk Factors 40 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 62 Item 3. Defaults Upon Senior Securities 62 Item 4. Mine Safety Disclosures 62 Item 5. Other Information 62 Item 6. Exhibits 63

Signatures

Signatures 65 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) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 30,109 $ 35,277 Short-term investments 214,386 268,339 Accounts receivable — 1,205 Inventory, net — 16,101 Other current assets 8,933 9,779 Assets held for sale 33,053 — Total current assets 286,481 330,701 Long-term investments 4,537 25,825 Property, plant and equipment, net 3,603 18,856 Operating lease right-of-use assets 8,826 18,007 Other assets 4,519 4,644 Total assets $ 307,966 $ 398,033 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 8,577 $ 9,848 Accrued expenses 32,377 22,162 Operating lease liabilities, current portion 21,504 19,259 Liabilities related to assets held for sale 5,125 — Total current liabilities 67,583 51,269 Operating lease liabilities, less current portion 86,758 98,517 Liabilities related to the sales of future royalties, net 97,829 112,625 Other long-term liabilities 6,912 4,635 Total liabilities 259,082 267,046 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.0001 par value; 10,000 shares authorized; no shares designated or outstanding at September 30, 2024 or December 31, 2023, respectively — — Common stock, $ 0.0001 par value; 300,000 shares authorized; 192,743 shares and 191,384 shares issued at September 30, 2024 and December 31, 2023, respectively; 184,458 shares and 191,384 shares outstanding at September 30, 2024 and December 31, 2023, respectively; 19 19 Capital in excess of par value 3,654,981 3,608,137 Treasury stock, at cost; 8,285 shares as of September 30, 2024 and none as of December 31, 2023, respectively ( 3,000 ) — Accumulated other

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View this 10-Q filing on SEC EDGAR