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Other financials

Income statement

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Revenue$10.9M+3.8%
Gross profit$21.8M+2.9%
Operating income-$39.1M+12.3%
Net income-$44.9M+11.7%
EPS (diluted)-$1.82+49.7%

Balance sheet

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Cash & equivalents$5.7M-20.0%
Total debt$83.2M-17.1%
Total equity$576.2M+4,094%
Total assets$763.3M+198%

Cash flow

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Operating cash flow-$44.3M+9.7%
CapEx$18.0K+800%
Free cash flow-$44.3M+9.7%

Valuation

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Market cap$2.48B+539%
Enterprise value$2.56B+435%
P/S44.6×+39.4×

Profitability

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Gross margin100%+31.2pp
Operating margin-242%
Net margin-284.2%+937pp
FCF margin-366.6%+1,421pp

Returns & leverage

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Return on equity-53.6%-22.6pp
Debt / equity0.1×-7.2×
Current ratio10.2×+7.0×

Where this comes from

Reported directly by Nektar Therapeutics in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Nektar Therapeutics’s 10-Q, filed May 8, 2026.

Filed
May 7, 2026, 8:00 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-212596
Line itemThree Months Ended March 31,Three Months Ended March 31,Three Months Ended March 31,
Non-cash royalty revenue related to the sales of future royalties$$$10,86110,460
Total revenue10,86110,460
Operating costs and expenses:
Research and development (including $1,708 and $208 for the three months ended March 31, 2026 and 2025, respectively, from a related party)35,68030,480
General and administrative13,43924,346
Restructuring and impairment796169
Total operating costs and expenses49,91554,995
Loss from operations(39,054)(44,535)

Item 1. Condensed Consolidated Financial Statements—Unaudited:

FAQ

What is Nektar Therapeutics's R&D?
Nektar Therapeutics (NKTR) reported R&D of $35.68M in Q1 2026.
How has Nektar Therapeutics's R&D changed year-over-year?
Nektar Therapeutics's R&D increased by 17.1% year-over-year, from $30.48M to $35.68M.
What is the long-term trend for Nektar Therapeutics's R&D?
Over 4 years (2021 to 2025), Nektar Therapeutics's R&D has grown at a -26.4% compound annual growth rate (CAGR), from $400.27M to $117.33M.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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