Overview

* Nektar Therapeutics Q2 2025 revenue falls to $11.2 mln from $23.5 mln year-over-year

* Net loss narrows to $41.6 mln from $52.4 mln in Q2 2024

* Rezpegaldesleukin shows promising Phase 2b data; FDA grants Fast Track for alopecia areata

Outlook

* Nektar expects cash to support operations into Q1 2027

* Company to report 52-week rezpegaldesleukin data in early 2026

* Nektar to advance NKTR-0165 into clinic in 2026

* Company to report alopecia areata study data in December 2025

Result Drivers

* REVENUE DECLINE - Revenue decreased due to the sale of the Huntsville manufacturing facility, ending product sales

* R&D EXPENSES - Increased due to development of rezpegaldesleukin and NKTR-0165, partially offset by decreased spending on NKTR-255

* COST REDUCTION - Operating costs fell due to the elimination of cost of goods sold and lower restructuring charges

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $11.18

Product mln

Sales

Q2 EPS -$2.95

Q2 Net -$41.59

Income mln

Q2 -$36.23

Income mln

From

Operatio

ns

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and 1 "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 ( NKTR ) is $95.00, about 76.4% above its August 6 closing price of $22.45

Press Release:

(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.)