Nektar reports Q3 EPS (18c), consensus (20c)

Reports Q3 revenue $24.1M, consensus $18.28M. Cash and investments in marketable securities on September 30, 2024 were $249M as compared to $329.4M at December 31, 2023. Nektar’s (NKTR) cash and marketable securities are expected to support strategic development activities and operations into the fourth quarter of 2026. “We made excellent progress this quarter advancing our I&I pipeline, including the ongoing Phase 2b studies of rezpegaldesleukin in atopic dermatitis and alopecia areata,” said Howard Robin, President and CEO of Nektar. “We see rapid enrollment in the 400-patient atopic dermatitis study for rezpegaldesleukin, and we remain on track for topline data in the first half of 2025. Our Phase 2 study in alopecia areata is also enrolling nicely with topline data expected in the second half of 2025.” “Beyond rezpegaldesleukin, we are focused on advancing our earlier stage TNFR2 antibody and bispecific programs, NKTR-0165 and NKTR-0166, with at least one of these slated to enter the clinic next year,” continued Robin. “Next week, we are looking forward to presenting highly promising data at the 2024 ACR Convergence Meeting for our preclinical PEG-CSF program, NKTR-422. Finally, we recently published important data for our IL-15 agonist, NKTR-255, highlighting its potential as a validated mechanism in oncology.”