Nektar Therapeutics Q3 loss widens on higher R&D and G&A expenses

Overview

• Biotechnology company reported Q3 revenue declined yr/yr as product sales fell

• Net loss widened in Q3, reflecting higher R&D and G&A expenses

• Company advanced rezpegaldesleukin into three Phase 3 trials for atopic dermatitis

Outlook

• Nektar expects topline data from Phase 3 atopic dermatitis trials in mid-2028

• Company targets first BLA filing for rezpegaldesleukin in 2029

• Nektar says global ZENITH AA trial in alopecia areata is on track to begin in December 2026

Result Drivers

• R&D SPENDING - Co said higher R&D expenses were driven by Phase 3 trials and manufacturing activities for rezpegaldesleukin in atopic dermatitis and alopecia areata

• LEGAL EXPENSES - Co said G&A expenses rose in Q3 mainly due to increased legal costs

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Nektar Therapeutics is $150.00, about 290.2% above its November 11 closing price of $38.44

Reuters Recommended Reads

• Nov 12 - Kodiak Sciences Q3 net loss widens as R&D expenses rise

• Nov 12 - Rocket Pharmaceuticals Q3 net loss narrows as R&D costs fall

• Nov 12 - MacroGenics Q3 swings to net loss

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)