PR Newswire·Nov 12, 2026, 4:15 PM ET

Nektar Therapeutics Announces Third Quarter 2026 Financial Results

Nektar Therapeutics reported cash and investments of $952.9 million as of September 30, 2026, up from $245.8 million on December 31, 2025.
The company initiated all three global ZENITH AD registrational trials for atopic dermatitis, with the ZENITH AA trial for alopecia areata scheduled to begin in December 2026.
Third-quarter 2026 revenue was $9.4 million, while revenue for the first nine months of 2026 totaled $30.4 million.
Total operating expenses reached $67.2 million in the third quarter of 2026, driven by increased research and development costs of $44.1 million.
General and administrative expenses were $24.6 million in the third quarter of 2026, primarily due to higher legal costs.
The net loss for the third quarter of 2026 was $55.7 million, or $1.63 per share, compared to a loss of $35.5 million in the same period the prior year.
Topline data for the ZENITH AD program is expected in mid-2028, with a Biologics License Application (BLA) submission targeted for 2029.
Data presented at EADV 2026 showed early molecular responses to rezpegaldesleukin in atopic dermatitis patients as early as Week 2.
Alopecia areata data indicated that 75% of patients maintaining a SALT Score ≤20 at 52 weeks retained that response four months after stopping treatment.
Nektar management hosted a conference call on November 12, 2026, to discuss these financial results and business updates.