Nektar Therapeutics logo

Nektar Therapeutics

NKTR

NASDAQHealthcareBiotechnology

Previous close

$74.02

−$0.51 · -0.68%

Aug 21, 4:00 PM ET

NKTR company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

42

Fair Value

Momentum

56

Neutral

Sentiment

52

Mixed

Risk resilience

43

Elevated Risk

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Company profile

Company website

Nektar Therapeutics is a biopharmaceutical firm dedicated to the global discovery and advancement of therapies addressing significant unmet medical requirements. Central to its robust pipeline is Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist. This drug is currently in Phase 3 clinical trials for metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, head and neck squamous cell carcinoma, and adjuvant melanoma. It is also being evaluated in Phase 2 for renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; Phase 1/2A for head and neck squamous cell carcinoma; Phase 1/2 for various solid tumors; and Phase 1B for COVID-19. Additionally, Nektar is developing NKTR-358, a cytokine Treg stimulant, which is in Phase 2 trials for systemic lupus erythematosus and ulcerative colitis, and Phase 1B for atopic dermatitis and psoriasis. Their portfolio further includes NKTR-255, an IL-15 receptor agonist, undergoing Phase 1/2 trials for non-Hodgkin's lymphoma, multiple myeloma, head and neck cancer, and colorectal cancer. Another investigational compound, NKTR-262, a toll-like receptor agonist, is in Phase 1/2 trials for solid tumors. The company is also advancing several other drug candidates. Nektar Therapeutics maintains strategic collaboration agreements with a multitude of pharmaceutical entities, including Takeda Pharmaceutical Company Ltd., AstraZeneca AB, UCB Pharma S.A., F. Hoffmann-La Roche Ltd, Bausch Health Companies Inc., Pfizer Inc., Amgen Inc., UCB Pharma (Biogen), Bristol-Myers Squibb Company, Baxalta Incorporated, Eli Lilly and Company, Merck KGaA, and SFJ Pharmaceuticals, Inc. Established in 1990, Nektar Therapeutics is headquartered in San Francisco, California.

Industry
Biotechnology
Sector
Healthcare
Headquarters
US
CEO
Howard W. Robin
Listed since
May 3, 1994
Employees
63

Market position

Day range

Current $74.02

52-week range

Current $74.02

Open
$75.045
Previous close
$74.53
Volume
614.08K
0.61× average
Average volume
1.01M
Average daily volume
Market cap
2.12B USD
Beta
1.16
Market reference 1
50-day average
$69.3652
+6.71% above average
200-day average
$64.0639
+15.54% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
847.09M USD
P/E (TTM)
-11.05×
P/B (TTM)
2.71×
P/S (TTM)
38.9×
EV / EBITDA
-6.18×
Earnings yield
-23.00%
Free cash flow yield
-29.26%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
99.36%
Operating margin
-240.38%
Net margin
-287.84%
Return on equity
-182.65%
Return on assets
-58.51%
Return on invested capital
-52.82%

Financial health

Debt / equity
0.15×
Current ratio
4.97×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends161%-84%-330%-575%Gross margin, FY2021: 75.57%Gross margin, FY2022: 76.50%Gross margin, FY2023: 59.34%Gross margin, FY2024: 68.82%Gross margin, FY2025: 100.00%Operating margin, FY2021: -437.76%Operating margin, FY2022: -260.97%Operating margin, FY2023: -152.49%Operating margin, FY2024: -106.88%Operating margin, FY2025: -236.77%Net margin, FY2021: -514.03%Net margin, FY2022: -399.98%Net margin, FY2023: -306.31%Net margin, FY2024: -120.86%Net margin, FY2025: -297.07%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 75.57%. Gross margin FY2022 76.50%. Gross margin FY2023 59.34%. Gross margin FY2024 68.82%. Gross margin FY2025 100.00%. Operating margin FY2021 -437.76%. Operating margin FY2022 -260.97%. Operating margin FY2023 -152.49%. Operating margin FY2024 -106.88%. Operating margin FY2025 -236.77%. Net margin FY2021 -514.03%. Net margin FY2022 -399.98%. Net margin FY2023 -306.31%. Net margin FY2024 -120.86%. Net margin FY2025 -297.07%.

Income trends

Revenue

55.23M USD-43.89%

Operating income

−130.77M USD-24.31%

Net income

−164.08M USD-37.92%
Income trends across reported periods164.48M USD−85.82M USD−336.11M USD−586.41M USDRevenue, FY2021: 101.91M USDRevenue, FY2022: 92.06M USDRevenue, FY2023: 90.12M USDRevenue, FY2024: 98.43M USDRevenue, FY2025: 55.23M USDOperating income, FY2021: −446.1M USDOperating income, FY2022: −240.24M USDOperating income, FY2023: −137.43M USDOperating income, FY2024: −105.2M USDOperating income, FY2025: −130.77M USDNet income, FY2021: −523.84M USDNet income, FY2022: −368.2M USDNet income, FY2023: −276.06M USDNet income, FY2024: −118.96M USDNet income, FY2025: −164.08M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 101.91M USD. Revenue FY2022 92.06M USD. Revenue FY2023 90.12M USD. Revenue FY2024 98.43M USD. Revenue FY2025 55.23M USD. Operating income FY2021 −446.1M USD. Operating income FY2022 −240.24M USD. Operating income FY2023 −137.43M USD. Operating income FY2024 −105.2M USD. Operating income FY2025 −130.77M USD. Net income FY2021 −523.84M USD. Net income FY2022 −368.2M USD. Net income FY2023 −276.06M USD. Net income FY2024 −118.96M USD. Net income FY2025 −164.08M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue55.23M USD98.43M USD90.12M USD92.06M USD101.91M USD
Cost of goods sold30.69M USD36.64M USD21.64M USD24.9M USD
Gross profit55.23M USD67.74M USD53.48M USD70.42M USD77.01M USD
Research and development117.33M USD120.91M USD114.16M USD218.32M USD400.27M USD
Selling, general, and administrative68.67M USD76.75M USD77.42M USD92.33M USD122.84M USD
Operating expenses186M USD172.94M USD190.9M USD310.66M USD523.11M USD
Interest income10.44M USD14.5M USD19.01M USD6.78M USD2.73M USD
Interest expense26.18M USD28.11M USD25.33M USD28.91M USD47.31M USD
Depreciation and amortization1.03M USD4.39M USD7.82M USD12.2M USD14.15M USD
Operating income−130.77M USD−105.2M USD−137.43M USD−240.24M USD−446.1M USD
Net income−164.08M USD−118.96M USD−276.06M USD−368.2M USD−523.84M USD

Company facts updated Aug 24, 2026.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$150

102.65% upside
Past 12 months12-month forecastHigh $192Average $150Low $80.00

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