Nektar Therapeutics — Third Quarter 2026 Earnings Summary

Nektar Therapeutics reported a net loss of $55.7 million for the third quarter of 2026, driven by increased research and development expenses totaling $44.1 million as the company advances its lead candidate rezpegaldesleukin into Phase 3 trials for atopic dermatitis and alopecia areata. Revenue for the quarter declined to $9.4 million from $11.8 million in the same period the previous year, while cash and investments rose significantly to $952.9 million. The company has initiated all three global registrational trials for the ZENITH AD program and expects topline data in mid-2028, with a target Biologics License Application submission in 2029.