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Nektar Therapeutics — Third Quarter 2026 Earnings Summary

  • Revenue declined to $9.4 million in Q3 2026 from $11.8 million in Q3 2025, while net loss widened to $55.7 million ($1.63/share) from $35.5 million ($1.87/share) year-over-year; operating expenses rose to $67.2 million in Q3 2026 from $43.5 million in Q3 2025.
  • Cash and investments surged to $952.9 million as of September 30, 2026, from $245.8 million at year-end 2025, supported by a significant increase in capital in excess of par value from $3.85 billion to $4.76 billion.
  • Management advanced the rezpegaldesleukin pipeline by initiating the final registrational trial (ZENITH AD-3) in October 2026 and accelerating the global ZENITH AA alopecia areata trial to begin in December 2026.
  • Future outlook targets topline data for the ZENITH AD program in summer 2028 and a Biologics License Application filing in 2029, following positive Phase 2b REZOLVE-AD results published in The Lancet.
Company
NEKTAR THERAPEUTICS
Sector
Healthcare
Industry
Biotechnology