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Nektar Therapeutics NKTR Q2 2026 earnings

Reported August 13, 2026 · After market close

Revenue$10.1MMiss by $294.0K
EPS-$1.23Beat by $0.74
Revenue estimate$10.4M
EPS estimate-$1.97
“This year continues to be a transformative year for Nektar as we advance our lead program, rezpegaldesleukin, into Phase 3 clinical trials. We initiated the first Phase 3 ZENITH AD trials in atopic dermatitis in July, and we plan to start a single registrational Phase 3 study in alopecia areata in early 2027. Our Phase 3 program establishes a clear path to the first BLA submission for rezpegaldesleukin in 2029. With its novel T-reg mechanism, rezpegaldesleukin is uniquely positioned to provide benefit for patients across a number of chronic autoimmune conditions. Importantly, our financial position is strong with over one billion dollars in cash and investments at the end of the quarter, and a cash runway that extends into the third quarter of 2028, past the initial Phase 3 data readouts expected in mid-2028.”
Howard W. Robin

Next report

Nov 5, 2026 (in 2 months)
Revenue estimate$10.4M
EPS estimate-$2.13

Financials

Q2 2026

Income statement

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Revenue$10.1M-9.3%
Operating income-$42.3M-16.9%
Net income-$40.6M+2.3%
EPS (diluted)-$1.23+58.3%

Balance sheet

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Cash & equivalents$3.4M-46.3%
Total debt$78.6M-18.3%
Total equity$903.1M+3,830%
Total assets$1.1B+428%

Cash flow

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Operating cash flow-$75.8M-65.7%
CapEx$94.0K+154%
Free cash flow-$75.9M-65.7%

Valuation & ratios

Valuation

as of 09/17/26
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Market cap$2.3B+137%
Enterprise value$2.38B+124%
P/S42.1×+29.2×

Profitability

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Operating margin-257.8%—
Net margin-287.8%+572pp
FCF margin-428.7%+1,139pp

Returns & leverage

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Debt / equity0.1×—
Current ratio10.4×+7.8×

Segments

By product

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Non Cash Royalty Revenue Related To Sale Of Future Royalties$10.1M-9.5%

FAQ

When did Nektar Therapeutics report Q2 2026 earnings?
Nektar Therapeutics (NKTR) reported Q2 2026 earnings on August 13, 2026 after market close.
What were Nektar Therapeutics's Q2 2026 revenue and EPS?
Nektar Therapeutics reported revenue of $10.1M and eps of $-1.23 for Q2 2026.
Did Nektar Therapeutics beat estimates in Q2 2026?
Revenue missed the consensus estimate of $10.4M by $294.0K. EPS beat the consensus estimate of $-1.97 by $0.74.
How did Nektar Therapeutics's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 9.3% from $11.2M a year earlier and eps grew 58.3% from $-2.95.
Where can I find Nektar Therapeutics's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001213900-26-089137) and the 10-Q periodic report (0001193125-26-349805) directly on SEC EDGAR. The filing index links above go to sec.gov.