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Nektar Therapeutics (NKTR)

Nektar Therapeutics is a biopharmaceutical company with a robust, wholly owned R&D pipeline of investigational medicines in oncology, immunology, and virology as well as a portfolio of approved partnered medicines. Nektar is headquartered in San Francisco, California, with additional operations in Huntsville, Alabama and Hyderabad, India.

Company profile

Ticker
NKTR
Exchange
Website
CEO
Howard Robin
Employees
Incorporated
Location
Fiscal year end
Former names
INHALE THERAPEUTIC SYSTEMS, INHALE THERAPEUTIC SYSTEMS INC
SEC CIK
Subsidiaries
Inheris Biopharma, Inc. ...
IRS number
943134940

NKTR stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 May 22
2 Jul 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 67.99M 67.99M 67.99M 67.99M 67.99M 67.99M
Cash burn (monthly) (no burn) 6.85M 38.85M 43.08M 29.47M 35.33M
Cash used (since last report) n/a 20.99M 119.08M 132.03M 90.33M 108.29M
Cash remaining n/a 47.01M -51.08M -64.04M -22.34M -40.3M
Runway (months of cash) n/a 6.9 -1.3 -1.5 -0.8 -1.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 May 22 John Northcott Common Stock Sell Dispose S No No 3.95 4,592 18.14K 223,210
16 May 22 Mark Andrew Wilson Common Stock Sell Dispose S No No 3.95 3,136 12.39K 117,939
16 May 22 Labrucherie Gil M Common Stock Sell Dispose S No No 3.95 17,448 68.92K 312,905
16 May 22 Robin Howard W Common Stock Sell Dispose S No No 3.95 36,529 144.29K 620,941
16 May 22 Thomsen Jillian B. Common Stock Sell Dispose S No No 3.95 5,841 23.07K 170,427
15 May 22 Labrucherie Gil M Common Stock Grant Acquire A No No 0 28,750 0 330,353
15 May 22 Robin Howard W Common Stock Grant Acquire A No No 0 68,450 0 657,470
15 May 22 Thomsen Jillian B. Common Stock Grant Acquire A No No 0 10,950 0 176,268
93.4% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 239 242 -1.2%
Opened positions 40 44 -9.1%
Closed positions 43 38 +13.2%
Increased positions 89 79 +12.7%
Reduced positions 63 76 -17.1%
13F shares Current Prev Q Change
Total value 940.86M 2.36B -60.1%
Total shares 174.05M 173.82M +0.1%
Total puts 4.59M 1.71M +168.0%
Total calls 4.59M 1.83M +150.4%
Total put/call ratio 1.0 0.9 +7.0%
Largest owners Shares Value Change
IVZ Invesco 37.23M $200.67M +0.9%
BLK Blackrock 26.11M $140.76M -2.1%
Vanguard 19.43M $104.73M +5.0%
Primecap Management 17.06M $91.96M -2.0%
Wellington Management 11.38M $61.36M 0.0%
STT State Street 5.8M $31.26M +9.6%
BLVGF Bellevue 4.81M $25.92M +8.0%
Maverick Capital 4.79M $25.83M -17.7%
First Trust Advisors 4.39M $23.67M +28.4%
Camber Capital Management 4M $21.56M +6.7%
Largest transactions Shares Bought/sold Change
FMR 249.87K -6.51M -96.3%
Norges Bank 0 -1.77M EXIT
Maverick Capital 4.79M -1.03M -17.7%
Woodline Partners 0 -986.62K EXIT
First Trust Advisors 4.39M +970.89K +28.4%
Vanguard 19.43M +918.47K +5.0%
Alliancebernstein 989.72K +868.03K +713.3%
Citadel Advisors 1.01M +828.36K +457.1%
Candriam Luxembourg S.C.A. 685.94K +685.94K NEW
Balyasny Asset Management 668.83K +638.35K +2094.3%

Financial report summary

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Risks
  • We are highly dependent on the success of drug candidates, including NKTR-358 and NKTR-255. If these drug candidates fail in clinical development our business will be significantly harmed.
  • Delays in clinical studies are common and have many causes, and any significant delay in clinical studies being conducted by us or our partners could result in delay in regulatory approvals and jeopardize the ability to proceed to commercialization.
  • The outcomes from competitive I-O and combination therapy clinical trials, and the discovery and development of new potential oncology therapies, could have a material and adverse impact on the value of our I-O research and development pipeline.
  • The risk of clinical failure for any drug candidate remains high prior to regulatory approval and there can be no assurance that our product candidates will obtain regulatory approval.
  • Significant competition for our polymer conjugate chemistry technology platforms and our partnered and proprietary drugs and drug candidates could make our technologies, drugs or drug candidates obsolete or uncompetitive, which would negatively impact our business, results of operations and financial condition.
  • Preliminary and interim data from our clinical studies that we announce or publish from time to time are subject to audit and verification procedures that could result in material changes in the final data and may change as more patient data become available.
  • We are highly dependent on our collaboration partner to initiate, properly conduct and prioritize clinical trials for NKTR-358 and to perform important additional development and commercialization activities, and our business will be significantly harmed if their actions deprioritize or otherwise harm the prospects of our drug candidates.
  • Our strategic reorganization plan and cost restructuring plan may not be successful.
  • Our results of operations and financial condition depend significantly on the ability of our collaboration partners to successfully develop and market drugs and they may fail to do so.
  • We have substantial future capital requirements and there is a risk that we may not have access to sufficient capital to meet our current business plan. If we do not receive substantial milestone or royalty payments from our existing collaboration agreements, execute new high value collaborations or other arrangements, or are unable to raise additional capital in one or more financing transactions, we would be unable to continue our current level of investment in research and development.
  • The commercial potential of a drug candidate in development is difficult to predict. If the market size for a new drug is significantly smaller than we anticipate, it could significantly and negatively impact our revenue, results of operations and financial condition.
  • If government and private insurance programs do not provide payment or reimbursement for our partnered drug or proprietary drugs, those drugs will not be widely accepted, which would have a negative impact on our business, results of operations and financial condition.
  • Recent federal legislation and actions by federal, state and local governments may permit reimportation of drugs from foreign countries into the United States, including foreign countries where the drugs are sold at lower prices than in the United States, which could materially adversely affect our operating results.
  • If we are unable to establish and maintain collaboration partnerships on attractive commercial terms, our business, results of operations and financial condition could suffer.
  • Our revenue is exclusively derived from our collaboration agreements, which can result in significant fluctuation in our revenue from period to period, and our past revenue is therefore not necessarily indicative of our future revenue.
  • We expect to continue to incur substantial losses and negative cash flow from operations and may not achieve or sustain profitability in the future.
  • Our business could be adversely affected by the effects of health epidemics, including the recent COVID-19 pandemic.
  • If we or our contract manufacturers are not able to manufacture biologic substance or substances in sufficient quantities that meet applicable quality standards, it could delay clinical studies, result in reduced sales or constitute a breach of our contractual obligations, any of which could significantly harm our business, financial condition and results of operations.
  • We purchase some of the starting material for biologics and biologic candidates from a single source or a limited number of suppliers, and the partial or complete loss of one of these suppliers could cause production delays, clinical trial delays, substantial loss of revenue and contract liability to third parties.
  • Our manufacturing operations and those of our contract manufacturers are subject to laws and other governmental regulatory requirements, which, if not met, would have a material adverse effect on our business, results of operations and financial condition.
  • We depend on third parties to conduct the clinical trials for our biologic candidates and any failure of those parties to fulfill their obligations could harm our development and commercialization plans.
  • Our future depends on the proper management of our current and future business operations and their associated expenses.
  • If we, or our partners through our collaborations, are not successful in recruiting sales and marketing personnel or in building a sales and marketing infrastructure, we will have difficulty commercializing our products, which would adversely affect our business, results of operations and financial condition.
  • Because competition for highly qualified technical personnel is intense, we may not be able to attract and retain the personnel we need to support our operations and growth.
  • We are dependent on our management team and key technical personnel, and the loss of any key manager or employee may impair our ability to develop our products effectively and may harm our business, operating results and financial condition.
  • If we or our partners do not obtain regulatory approval for our biologic candidates on a timely basis, or at all, or if the terms of any approval impose significant restrictions or limitations on use, our business, results of operations and financial condition will be negatively affected.
  • We are a party to numerous collaboration agreements and other significant agreements which contain complex commercial terms that could result in disputes, litigation or indemnification liability that could adversely affect our business, results of operations and financial condition.
  • We may not be able to obtain intellectual property licenses related to the development of our biologic candidates on a commercially reasonable basis, if at all.
  • If any of our pending patent applications do not issue, or are deemed invalid following issuance, we may lose valuable intellectual property protection.
  • We rely on trade secret protection and other unpatented proprietary rights for important proprietary technologies, and any loss of such rights could harm our business, results of operations and financial condition.
  • If product liability lawsuits are brought against us, we may incur substantial liabilities.
  • If we or current or future collaborators or service providers fail to comply with healthcare laws and regulations, we or they could be subject to enforcement actions and civil or criminal penalties.
  • Disruptions to the normal functioning of the FDA and other government agencies could hinder their ability to perform and carry out important roles and activities on which the operation of our business relies, which could negatively impact our business.
  • We are involved in legal proceedings and may incur substantial litigation costs and liabilities that will adversely affect our business, financial condition and results of operations.
  • If we are found in violation of privacy and data protection laws, we may be required to pay penalties, be subjected to scrutiny by regulators or governmental entities, or be suspended from participation in government healthcare programs, which may adversely affect our business, financial condition and results of operations.
  • Our operations may involve hazardous materials and are subject to environmental, health, and safety laws and regulations. Compliance with these laws and regulations is costly, and we may incur substantial liability arising from our activities involving the use of hazardous materials.
  • The price of our common stock has, and may continue to fluctuate significantly, which could result in substantial losses for investors and securities class action and shareholder derivative litigation.
  • We have implemented certain anti-takeover measures, which make it more difficult to acquire us, even though such acquisitions may be beneficial to our stockholders.
  • We significantly rely on information technology systems, and any failure, inadequacy, interruption, breach, or security lapse of that technology within our internal computer systems, or those of our partners, vendors, CROs, CMOs or other contractors or consultants, may result in a material disruption of our development programs and our operations.
  • Changes in tax law could adversely affect our business and financial condition.
  • The United Kingdom’s withdrawal from the EU may have a negative effect on global economic conditions, access to patient markets, and regulatory certainty, which could adversely affect our operations.
  • Global economic and political conditions may negatively affect us and may magnify certain risks that affect our business.
  • Our business could be negatively impacted by corporate citizenship and sustainability matters.
  • If earthquakes or other catastrophic events strike, our business may be harmed.
Management Discussion
  • Our revenue is derived from our collaboration agreements, under which we may receive product sales revenue, royalties, and license fees, as well as development and sales milestones and other contingent payments. We recognize revenue when we transfer promised goods or services to our collaboration partners. The amount of upfront fees received under our license and collaboration agreements allocated to continuing obligations, such as development or manufacturing and supply commitments, is generally recognized as we deliver products or provide development services. As a result, there may be significant variations in the timing of receipt of cash payments and our recognition of revenue. We make our best estimate of the timing and amount of

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
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