NKTR on Nasdaq

Nektar Therapeutics

American healthcare company

Nektar Therapeutics is an American biopharmaceutical company. The company was founded in 1990 and is based in San Francisco, California.3 From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 19, 2026.

Overview

1990Founded1

Compare with Agios Pharmaceuticals, Q32 Bio Inc. or AYTU BIOPHARMA, INC, or pick any stock.

  • TickerNKTR on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersSan Francisco1
  • Websitewww.nektar.com
  • Incorporated inDE5
  • Business address455 Mission Bay Boulevard South, San Francisco, Ca 941585
  • Filer categoryNon-accelerated filer, Smaller reporting company5
  • Legal formCorporation4
  • LEI5299005I24806IOIYE034
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 29039704

See how the biggest companies compare on our leaderboards

Nektar Therapeutics is an American biopharmaceutical company. The company was founded in 1990 and is based in San Francisco, California. The company develops new drug candidates by applying its proprietary PEGylation and advanced polymer conjugate technologies to modify chemical structure of substances, which improves drug characteristics like retention and solubility. It is a technology supplier to a number of pharmaceutical companies including Affymax, Amgen, Merck, Pfizer and UCB Pharma, etc. The company developed the world's first inhalable non-injectable insulin, Exubera, which was awarded as the bronze award by Wall Street Journal for its technological breakthrough.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-253.7%Operating margin7
-297.1%Net margin7
-43.9%Revenue growth, 20257
-182.6%Return on equity7
-$208.7MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Non Cash Royalty Revenue Related To Sale Of Future Royalties brought in 50% of the revenue Nektar Therapeutics broke down this way in fiscal 2025.

  1. Non Cash Royalty Revenue Related To Sale Of Future Royalties$54.9M750%down 15% from 2024
  2. Non Cash Royalties$54.9M750%down 15% from 2024
  3. License Collaboration And Other Revenue$300.0K70%down 50% from 2024
Products and services by year
Products and services20242025
Non Cash Royalty Revenue Related To Sale Of Future Royalties$64.3M$54.9M
Non Cash Royalties$64.3M$54.9M
License Collaboration And Other Revenue$597.0K$300.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development100¢$117.3M
  • Income tax0¢$138.0K

Out of $55.2M in revenue.7 The company lost money this year.

Financial statements

Revenue8910117$55.2M in 2025−52% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $114.6M$114.6M20192020: $152.9M$152.9M2020+33%2021: $101.9M$101.9M2021−33%2022: $92.1M$92.1M2022−10%2023: $90.1M$90.1M2023−2%2024: $98.4M$98.4M2024+9%2025: $55.2M$55.2M2025−44%
Operating income8910117-$140.1M in 2025−68% since 2019
-$600.0M-$400.0M-$200.0M02019: -$440.0M-$440.0M20192020: -$425.1M-$425.1M2020−3%2021: -$446.1M-$446.1M2021+5%2022: -$376.2M-$376.2M2022−16%2023: -$263.7M-$263.7M2023−30%2024: -$105.2M-$105.2M2024−60%2025: -$140.1M-$140.1M2025+33%
Net income8910117-$164.1M in 2025−63% since 2019
-$600.0M-$400.0M-$200.0M02019: -$440.7M-$440.7M20192020: -$444.4M-$444.4M2020+1%2021: -$523.8M-$523.8M2021+18%2022: -$368.2M-$368.2M2022−30%2023: -$276.1M-$276.1M2023−25%2024: -$119.0M-$119.0M2024−57%2025: -$164.1M-$164.1M2025+38%

Every line of the income statement as filed: the last 2 fiscal years, latest first.7

Period ending2025-12-312024-12-31
Total revenue$55.2M$98.4M
Cost of goods sold$0$30.7M
General and administrative$68.7M$76.8M
Restructuring and impairment$9.3M$15.7M
Gain on sale of the Huntsville manufacturing facility$0-$40.4M
Total operating costs and expenses$195.3M$203.6M
Loss from operations-$140.1M-$105.2M
Non-cash interest expense on liabilities related to the sales of future royalties-$26.2M-$28.1M
Interest income$10.4M$14.5M
Total non-operating income (expense), net-$15.4M-$14.0M
Loss before benefit for income taxes and equity method investment-$155.5M-$119.2M
Benefit for income taxes-$138.0K-$239.0K
Loss before equity method investment-$155.3M-$119.0M
Loss from equity method investment-$8.7M$0
Net loss-$164.1M-$119.0M
Basic net loss per share (in dollars per share)-$9.73-$8.68
Diluted net loss per share (in dollars per share)-$9.73-$8.68
Weighted average shares outstanding used in computing basic net loss per share (in shares)16.9M shares13.7M shares
Weighted average shares outstanding used in computing diluted net loss per share (in shares)16.9M shares13.7M shares
Research and development$117.3M$120.9M
Other income (expense), net$361.0K-$390.0K
Reverse stock split, ratio0 pure

Compare Nektar Therapeutics with another company

The story

The company is engaged in developing a proprietary pipeline of drug candidates for several therapeutic areas including oncology, pain, anti-infectives, anti-viral and immunology. The company's research and development involve in small molecule and biologic drug candidates. Its drug candidate base consists of naloxegol (Movantik), a Phase III oral opioid antagonist, etirinotecan pegol, a topoisomerase inhibitor under Phase III clinical study as of 2012, NKTR 061, NKTR-181, NKTR-214, etc.

In 2013, the company was assigned a patent which was developed by the company and other four co-inventors. The products of the company is served as a supplement to improve the pharmacokinetics, pharmacodynamics, half-life, bioavailability and other areas of drugs for the patients worldwide. As of March 2014, the company had a market capitalization of $1.7 billion with an enterprise value of $1.67 billion.

As of December 2024, at a stock price-per-share of roughly $1, the market cap is roughly $171 million. Nektar underwent periods of downsizing after unsuccessful partnerships were ended with Eli Lilly in 2023 and Bristol Myers Squibb in 2022, resulting in layoffs of most company employees.

Pipeline

Etirinotecan pegol was in the phase III BEACON trial as well as in the I-SPY2 adaptive clinical trial for breast cancer in 2016. The European Medicines Agency refused a marketing authorisation in 2017.

Bempegaldesleukin (NKTR-214) is a CD122-biased immune-stimulatory cytokine, Phase I results were announced in November 2016. It is now in a phase 2 trial in combination with nivolumab for various advanced cancers.

In 2023 Nektar's partnership with Eli Lilly in development of "rezpeg" was ended. Eli Lilly claimed the drug lacked suitable efficacy, while Nektar responded that Eli Lilly had botched the analysis.

From Wikipedia’s article on Nektar Therapeutics, shared under CC BY-SA 4.0.6

Leadership

Who has led Nektar Therapeutics, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ajit Gill2006
  2. Robert Chess2006–2007
  3. Howard W. Robin2007–now

Chair

  1. Robert Chess2006–2007

President

  1. Ajit Gill2006
  2. Howard W. Robin2007–now

Chief financial officer

  1. Louis Drapeau2006–2007
  2. Timothy Harkness2007
  3. Gil M. Labrucherie2016–2022
  4. Jillian B. Thomsen2022–2023
  5. Sandra Gardiner2023
  6. Linda M. Rubinstein2026–now

Chief operating officer

  1. Hoyoung Huh2007
  2. Bharat M. Chowrira2008–2010
  3. Gil M. Labrucherie2019–2022
1995200020052010201520202025
Board members and other officers (29)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerMark A Wilson named Mar 19, 202455
  • DirectorR. Scott M Greer named Mar 19, 202455

Products and brands

  • Inhalable insulin

Listed on Wikidata.1

Former names

  • INHALE THERAPEUTIC SYSTEMS INCOct 15, 1998 to Jan 10, 20035
  • INHALE THERAPEUTIC SYSTEMSJul 11, 1996 to May 14, 19985

Timeline

  1. Jan 16, 2007New chief executive Howard W. Robin becomes CEO15
  2. Jun 30, 2006New chief executive Robert Chess becomes CEO17
  3. Jan 13, 2006New chief executive Ajit Gill becomes CEO16
  4. 1990Founded Founded1

Filings

396 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 78 major events, 146 insider forms, 55 large holders, 1 private raises, 96 other. The latest 20:

  1. Oct 1, 20268-K CURRENT REPORT EDGAR
  2. Sep 28, 2026SCHEDULE 13G/A EDGAR
  3. Sep 25, 20268-K CURRENT REPORT EDGAR
  4. Sep 25, 20264 EDGAR
  5. Sep 25, 20264 EDGAR
  6. Sep 25, 20264 EDGAR
  7. Sep 25, 20264 EDGAR
  8. Sep 25, 20264 EDGAR
  9. Sep 8, 20268-K CURRENT REPORT EDGAR
  10. Aug 20, 20264 EDGAR
  11. Aug 20, 20264 EDGAR
  12. Aug 18, 2026144 EDGAR
  13. Aug 18, 2026144 EDGAR
  14. Aug 14, 2026S-8 REGISTRATION STATEMENT EDGAR
  15. Aug 14, 202610-Q EDGAR
  16. Aug 14, 2026SCHEDULE 13G/A EDGAR
  17. Aug 14, 2026SCHEDULE 13G/A EDGAR
  18. Aug 13, 20268-K CURRENT REPORT EDGAR
  19. Jul 31, 2026SCHEDULE 13G EDGAR
  20. Jul 29, 2026SCHEDULE 13G EDGAR

The 396 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

97 open-market trades by officers, directors and large owners since October 2021: 0 buys and 97 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 18, 2026Zalevsky JonathanChief R&D OfficerSale186$71.98$13.4KForm 4
Aug 18, 2026ROBIN HOWARD WPresident & CEOSale418$71.98$30.1KForm 4
Jun 30, 2026Zalevsky JonathanChief R&D OfficerSale5,681$70.00$397.7KForm 4
Jun 17, 2026ROBIN HOWARD WPresident & CEOSale10,000$61.19$611.9KForm 4
Jun 16, 2026ROBIN HOWARD WPresident & CEOSale10,000$60.32$603.2KForm 4
Jun 15, 2026Zalevsky JonathanChief R&D OfficerSale5,538$60.71$336.2KForm 4
May 19, 2026Zalevsky JonathanChief R&D OfficerSale199$65.51$13.0KForm 4
May 19, 2026ROBIN HOWARD WPresident & CEOSale444$65.51$29.1KForm 4
Feb 18, 2026Zalevsky JonathanChief R&D OfficerSale180$73.00$13.1KForm 4
Feb 18, 2026ROBIN HOWARD WPresident & CEOSale423$73.00$30.9KForm 4
Jan 20, 2026Zalevsky JonathanChief R&D OfficerSale3,867$35.67$137.9KForm 4
Nov 25, 2025Zalevsky JonathanChief R&D OfficerSale1,157$54.28$62.8KForm 4
Nov 25, 2025Wilson Mark AndrewChief Legal OfficerSale630$54.28$34.2KForm 4
Nov 25, 2025ROBIN HOWARD WPresident & CEOSale2,207$54.28$119.8KForm 4
Sep 9, 2025ROBIN HOWARD WPresident & CEOSale6,666$46.69$311.2KForm 4
Sep 5, 2025ROBIN HOWARD WPresident & CEOSale6,666$38.53$256.9KForm 4
Sep 4, 2025Zalevsky JonathanChief R&D OfficerSale1,721$33.52$57.7KForm 4
Sep 4, 2025ROBIN HOWARD WPresident & CEOSale5,166$33.70$174.1KForm 4
Sep 2, 2025Zalevsky JonathanChief R&D OfficerSale485$30.10$14.6KForm 4
Sep 2, 2025ROBIN HOWARD WPresident & CEOSale1,500$30.16$45.2KForm 4

All 97 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Mar 4, 2024Raised $30 million in a private offering of equity Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Fmr LLC5,067,920$353.8M0.0%+764,732
Two Seas Capital LP3,092,234$215.9M8.2%+1,133,056
BlackRock, Inc.2,941,851$205.4M0.0%+2,249,201
Bvf Inc/il2,391,075$166.9M4.3%−168,520
Vanguard Capital Management LLC1,496,849$104.5M0.0%+299,794
Two Sigma Investments, LP1,202,004$83.9M0.1%+271,263
Vestal Point Capital, LP1,000,000$69.8M1.6%+715,000
Morgan Stanley936,560$65.4M0.0%+277,173
State Street Corp909,679$63.5M0.0%+664,952
Geode Capital Management, LLC881,306$61.5M0.0%+534,511
Prosight Management, LP810,000$56.5M9.7%+75,000
Armistice Capital, LLC724,000$50.5M1.4%+146,000
Gilder Gagnon Howe & Co LLC600,873$41.9M0.4%+329,115
Millennium Management LLC478,120$33.4M0.0%+73,843
Braidwell LP473,617$33.1M1.3%+250,916
Sofinnova Investments, Inc.471,763$32.9M1.8%−37,783
Woodline Partners LP470,875$32.9M0.1%+55,540
Orbimed Advisors LLC465,346$32.5M0.6%+190,346
UBS Group AG428,400$29.9M0.0%+108,228
Emerald Advisers, LLC390,158$27.2M0.6%−4,446
Vanguard Portfolio Management LLC348,540$24.3M0.0%+276,049
DAFNA Capital Management LLC318,380$22.2M4.2%+153,202
Northern Trust Corp308,531$21.5M0.0%+229,933
Deep Track Capital, LP300,000$20.9M0.3%New
Charles Schwab Investment Management Inc284,971$19.9M0.0%+116,964

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73