Nektar Therapeutics (NKTR)
NASDAQ:NKTR
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Earnings Data
Report Date
Aug 06, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-2.06Last Year’s EPS
-2.95Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Q1 2026
Earnings Call Date:May 07, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call delivered strong clinical progress and a clear, accelerated path to Phase III for REZPEG in atopic dermatitis and alopecia areata, supported by robust Phase IIb data (durable and deepening responses, EASI‑100 increases, SALT‑20 gains) and a fortified balance sheet (> $1B pro forma). Key positives include well‑defined Phase III designs, meaningful market opportunity, favorable safety signals versus JAK inhibitors, and additional pipeline and TrialNet collaboration in type 1 diabetes. Main concerns are typical biotech risks: ongoing net losses and increasing R&D spend as Phase III programs start, noncash interest expense, remaining regulatory/endpoint design questions (especially for AA and potential moderate AA expansion), and operational enrollment/execution risk for global trials. On balance, the positives (clinical validation, financing, program advancement) outweigh the near‑term financial and execution risks.Company Guidance
Positive Phase IIb Clinical Data in Atopic Dermatitis
REZPEG Phase IIb (REZOLVE-AD) showed durable and deepening efficacy through a 36-week maintenance period; maintenance data included up to a fivefold increase in EASI-100 (complete skin clearance) rates and sustained improvements in EASI-75, EASI-90, vIGA and itch over time. Approximately 60% of patients who had an EASI-75 or vIGA at re-randomization achieved IGA 0/1 in maintenance.
Positive 52-Week Results in Alopecia Areata
In the Phase IIb REZOLVE-AA blinded extension, continued treatment to week 52 produced new SALT Score 20 responses: 29% (18 µg/kg arm) and 31% (24 µg/kg arm) of the 31 extension patients achieved new responses between weeks 36 and 52, with no new responses on placebo. Completion rate for the 16-week extension was 94%, and REZPEG met the target product profile with 52 weeks of twice-monthly dosing.
Phase III Programs Advancing on Schedule
ZENITH-AD Phase III program for atopic dermatitis expected to initiate by July 2026 with first data mid-2028 and BLA target in 2029. Program design: three pivotal trials (two global biologic‑naive monotherapy trials of ~510 patients each and one ~510 biologic‑experienced study), 24-week induction followed by 28‑week maintenance to week 52.
Planned Alopecia Areata Registrational Path
Plan to initiate Phase III in alopecia areata in early 2027 (52‑week primary), with a proposed ~600‑patient single pivotal study (12+ years, baseline SALT ≥50) and regulatory precedent referenced where a single Phase III was accepted for approval by FDA in this indication.
Strong Balance Sheet and Financing Completed
Raised approximately $783 million in net proceeds since year‑end through financings; ended Q1 2026 with $731.6 million cash and investments, and an additional April financing of ~$350 million increases total cash and investments to over $1 billion. Company expects cash runway into Q3 2028 and projects ending 2026 with ~$800–$825 million.
Clear Commercial Opportunity
Management cites large addressable markets: >15 million U.S. moderate‑to‑severe atopic dermatitis patients (fewer than 10% receiving biologics) and ~6.7 million U.S. alopecia areata patients; combined global market for the two indications forecasted near $40 billion over the next 5 years, with potential for growth if a novel MOA expands treatment adoption.
Favorable Safety and Differentiated Mechanism
REZPEG (Treg‑stimulating biologic) demonstrated a favorable safety profile versus JAK inhibitors and potential suitability for chronic use without JAK class safety/monitoring limitations; also showed statistically significant improvements in comorbid asthma (ACQ‑5) in AD—an outcome not shown by most competitors.
Pipeline and External Collaborations
Ongoing TrialNet‑sponsored Phase II in new‑onset type 1 diabetes with initial data expected in 2027; preclinical and translational activity for TNFR2 agonist programs (NKTR‑0165) and bispecific NKTR‑0166 with expected preclinical data presentations H2 2026 and IND plans in 2027.
Revenue and Guidance
Q1 2026 noncash royalty revenue of $10.9 million; full‑year 2026 revenue guidance maintained at $40–$45 million.
NKTR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NKTR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $83.37 | $81.89 | -1.78% |
Mar 12, 2026 | $70.36 | $73.25 | +4.11% |
Nov 06, 2025 | $55.12 | $55.97 | +1.54% |
Aug 07, 2025 | $21.75 | $23.06 | +6.02% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Nektar Therapeutics (NKTR) report earnings?
Nektar Therapeutics (NKTR) is schdueled to report earning on Aug 06, 2026, After Close (Confirmed).
What is Nektar Therapeutics (NKTR) earnings time?
Nektar Therapeutics (NKTR) earnings time is at Aug 06, 2026, After Close (Confirmed).
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What is NKTR EPS forecast?
NKTR EPS forecast for the fiscal quarter 2026 (Q2) is -2.06.