Nektar Therapeutics 8-K Filings

Nektar Therapeutics reported second quarter 2026 results, highlighting a strengthened balance sheet and continued investment in its immunology pipeline. Cash and investments in marketable securities were $1,023.4 million at June 30, 2026, up from $245.8 million at December 31, 2025, and management stated this supports a cash runway into the third quarter of 2028.

Revenue for the quarter was $10.1 million, slightly below $11.2 million a year earlier, all from non-cash royalty revenue related to sales of future royalties. Total operating costs and expenses rose to $52.5 million from $47.4 million, driven by higher research and development spending as Phase 3 activities for lead candidate rezpegaldesleukin ramped, while general and administrative costs declined.

Net loss was $40.6 million, or $1.23 per share, compared with a net loss of $41.6 million, or $2.95 per share, in the prior-year quarter. The company has initiated its first Phase 3 ZENITH AD trials in atopic dermatitis, plans a registrational Phase 3 in alopecia areata in early 2027, and is targeting an initial BLA submission for rezpegaldesleukin in 2029.

Nektar Therapeutics reported the results of its annual shareholder meeting held on June 4, 2026. Stockholders elected Howard W. Robin to the board to serve until the 2029 annual meeting, with 13,164,879 votes for, 4,975,288 against, and 286,175 abstentions, plus 4,588,835 broker non-votes.

Shareholders approved an amendment to the Amended and Restated 2017 Performance Incentive Plan to increase the shares of common stock authorized for issuance by 3,000,000 shares, with 13,160,661 votes for and 4,902,925 against. They also ratified Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026 by 22,591,556 votes for and 118,592 against. A non-binding advisory resolution approving the Company’s executive compensation received 18,154,226 votes for and 161,005 against.

Nektar Therapeutics entered into an Equity Distribution Agreement with Guggenheim Securities and H.C. Wainwright, allowing at-the-market offerings of up to $150,000,000 of common stock under its automatic shelf registration. The agents will receive a 3.0% commission on gross sales and customary indemnification and expense reimbursement.

The company also announced that interim Chief Financial Officer Sandra Gardiner will retire and step down effective May 15, 2026. FLG Partners’ Linda Rubinstein will become interim Chief Financial Officer and principal financial and accounting officer under an amended consulting agreement with FLG at $650 per hour, terminable on 15 days’ notice.

Nektar Therapeutics reported first quarter 2026 results showing a smaller loss and a much stronger balance sheet. Revenue was $10.9 million, slightly above $10.5 million a year ago, primarily from non-cash royalty revenue.

Net loss narrowed to $44.9 million, or $1.82 per share, compared with a $50.9 million loss, or $3.62 per share, in the first quarter of 2025. Research and development spending rose to $35.7 million as the company prepared a Phase 3 program for rezpegaldesleukin in atopic dermatitis, while general and administrative costs fell to $13.4 million mainly from lower legal expenses.

Cash and investments in marketable securities totaled $731.6 million at March 31, 2026, up from $245.8 million at December 31, 2025, and exclude approximately $351 million of net proceeds from a secondary offering completed on April 23, 2026. Management highlighted plans to initiate the Phase 3 ZENITH-AD program by July and to hold an End-of-Phase 2 meeting for alopecia areata this quarter.

Nektar Therapeutics is raising new equity capital through an upsized underwritten public offering of 3,532,609 shares of common stock at $92.00 per share, with underwriters exercising a 30-day option for an additional 529,891 shares in full.

The company expects gross proceeds of about $325 million and estimates net proceeds of approximately $350.9 million after underwriting discounts and expenses. All shares are being sold by Nektar, and the deal is expected to close on April 23, 2026, subject to customary conditions.

Nektar plans to use the net proceeds for general corporate purposes, including research and development, clinical development such as Phase 3 trials for its lead candidate rezpegaldesleukin in atopic dermatitis and alopecia areata, and manufacturing costs to advance its drug pipeline.

Nektar Therapeutics furnished an update on its liquidity position. The company reported having approximately $741.7 million in cash and investments in marketable securities as of April 1, 2026. This figure is an estimate based on information available at that time and is not a full statement of operating results or overall financial position.

Nektar Therapeutics reported 52-week topline results from its Phase 2b REZOLVE-AA study of rezpegaldesleukin in severe-to-very-severe alopecia areata. In a 16-week blinded extension to week 52, 29% of patients on the 18 µg/kg dose and 31% on the 24 µg/kg dose achieved new SALT Score ≤20 responses, meaning at least 80% scalp hair coverage, versus none on placebo. For the overall study population at week 52, 25.8% on low dose and 27.6% on high dose reached SALT ≤20 compared with 6.7% on placebo, and 30.2% and 35.0% reached SALT ≤30 versus 8.4% on placebo. Clinically meaningful improvements (SALT50 and SALT30) were also higher with rezpegaldesleukin, and 94% of patients in the extension completed 52 weeks. Safety remained favorable, with nearly all adverse events mild to moderate, low discontinuation due to adverse events, and mainly transient injection site reactions. The company states that these data support advancing rezpegaldesleukin into late-stage development in alopecia areata.

Nektar Therapeutics reported weaker 2025 results alongside a significantly stronger cash position after recent financings. Revenue for 2025 was $55.2 million compared to $98.4 million in 2024, mainly because product sales ended after the December 2024 sale of the Huntsville manufacturing facility and non-cash royalty revenue declined.

Total operating costs and expenses were $195.3 million versus $203.6 million in 2024, reflecting lower cost of goods sold and reduced R&D and G&A spending, partially offset by restructuring and impairment charges linked to San Francisco real estate and an equity-method loss from Gannet BioChem. Net loss widened to $164.1 million, or $9.73 per share, from $119.0 million, or $8.68 per share, while non-GAAP net loss excluding the equity investment loss and restructuring was $146.0 million, or $8.66 per share.

Cash and investments in marketable securities were $245.8 million as of December 31, 2025, versus $269.1 million a year earlier, and this balance excludes approximately $432 million of net proceeds from a $460 million secondary offering and $44 million of net proceeds from at-the-market share sales completed in early 2026. Management highlighted positive Phase 2 data for lead autoimmune candidate rezpegaldesleukin and plans to initiate a Phase 3 atopic dermatitis program in June 2026 while advancing additional immunology and oncology pipeline assets.

Nektar Therapeutics is raising new capital through an upsized underwritten public offering of common stock and pre-funded warrants. The company agreed to sell 6,603,449 common shares at $58.00 each and 293,103 pre-funded warrants at $57.9999 each, with underwriters also exercising a 30-day option to buy an additional 1,034,482 common shares at the public price, all before underwriting discounts and commissions.

The transaction is expected to generate gross proceeds of about $400 million and is scheduled to close on February 13, 2026, subject to customary conditions. Nektar plans to use the net proceeds for general corporate purposes, including research and development, Phase 3 trials for rezpegaldesleukin, clinical development, and manufacturing costs to advance its drug pipeline.

Nektar Therapeutics provided a liquidity update, stating it had approximately $229.1 million in cash and investments in marketable securities as of January 31, 2026. This figure is described as an estimate based solely on information available at the time of the announcement.

The company notes that this cash and investment balance is not a comprehensive statement of its operating results or full financial position for that date. The information was furnished under a Regulation FD disclosure item and is not deemed filed for liability purposes or automatically incorporated into other securities filings.

Nektar Therapeutics reported new 36-week maintenance data from its 52-week Phase 2b REZOLVE-AD trial of rezpegaldesleukin in moderate-to-severe atopic dermatitis. Among re-randomized responders, both monthly (Q4W) and quarterly (Q12W) dosing maintained high response rates, including up to 83% maintaining EASI-75 and strong vIGA-AD and itch responses.

A meaningful share of patients also achieved new or deeper responses by Week 52, including increases in EASI-90 and EASI-100 rates, indicating continued improvement with longer treatment. The safety profile over 52 weeks remained consistent with induction, with low discontinuations, mainly mild injection site reactions, and no new safety concerns.

Nektar held an End of Phase 2 meeting with the FDA and reached alignment on a 24 µg/kg Q2W induction dose and co-primary endpoints for two planned Phase 3 registrational trials, which will include a 36-week maintenance period with Q4W and Q12W regimens. The company plans to start Phase 3 in the second quarter of 2026 and is targeting a BLA filing in 2029 based on its broader development plan.

Nektar Therapeutics is entering a quiet period starting January 27, 2026 as it prepares analyses of 36-week maintenance data from its Phase 2b REZOLVE-AD study of rezpegaldesleukin in patients with moderate-to-severe atopic dermatitis. During this time, the company plans to limit public communications about these data.

The quiet period is described as consistent with Nektar’s prior practices for its REZOLVE studies and planned data disclosures. The next planned investor communication is expected in February 2026, when the company plans to present the maintenance data.

Nektar Therapeutics reported topline 36-week Phase 2b REZOLVE-AA results for its investigational drug rezpegaldesleukin in severe-to-very-severe alopecia areata.

The global study enrolled 92 patients randomized to two rezpegaldesleukin doses or placebo, with mean percentage reduction in SALT score at Week 36 as the primary endpoint. Both active arms more than doubled the SALT reduction seen with placebo, but the primary endpoint narrowly missed statistical significance in the main analysis, with mean reductions of 28.2% and 30.3% versus 11.2% on placebo.

When four patients with major eligibility violations were excluded, both doses met statistical significance, with mean SALT reductions of 29.6% and 30.4% versus 5.7% on placebo. Key secondary measures, including SALT30 and thresholds of SALT≤30, SALT≤20 and SALT≤10, also favored rezpegaldesleukin, though the study was not powered for secondary endpoints. Safety was described as favorable, with mostly mild-to-moderate, self-resolving adverse events, a 1.4% discontinuation rate, and no apparent increase in major cardiovascular, thrombotic or infectious risks compared with placebo.

Nektar Therapeutics announced that Mark A. Wilson will step down as Chief Legal Officer, effective December 31, 2025. The company states that his departure is not due to any disagreement regarding Nektar’s operations, policies, or practices, which indicates this is presented as an orderly transition rather than a dispute-driven change.

Elizabeth Zhang, currently Vice President, Legal and Corporate Counsel, will assume Mr. Wilson’s responsibilities. She joined Nektar in 2021 and previously worked at major law firms Cravath, Swaine & Moore LLP and Gibson, Dunn & Crutcher LLP. Ms. Zhang holds degrees from Harvard College, the University of Oxford, and Harvard Law School, suggesting continuity in legal leadership with a strong academic and professional background.

Nektar Therapeutics furnished new clinical results from its ongoing Phase 2b REZOLVE-AD trial in atopic dermatitis. The study enrolled 393 patients; a pre-planned analysis of 99 participants with a history of asthma and ACQ-5 data showed all three rezpegaldesleukin doses reduced mean ACQ-5 scores at week 16, with the 24 μg/kg q2w and 24 μg/kg q4w arms reaching p<0.05 versus placebo. The placebo arm showed overall worsening.

Among patients with baseline ACQ-5 ≥0.5 (n=53), at least half achieved a clinically significant improvement across all active arms, compared to 13% for placebo. In those with uncontrolled asthma at baseline (ACQ-5 ≥1.5; n=25), all active doses improved mean ACQ-5 at week 16 with statistical significance, with placebo-adjusted reductions ranging 1.0–1.4. In a crossover cohort of 42 initial placebo patients treated with 24 μg/kg q2w, observed responses at crossover week 24 were: EASI-75 60% (n=30), vIGA-AD 0/1 33% (n=30), EASI-90 37% (n=30), and Itch NRS 50% for baseline ≥4 (n=28). Safety was generally consistent with the previously reported profile.

Nektar Therapeutics filed an 8-K stating it has furnished a press release announcing its financial results for the quarter ended September 30, 2025. The company attached the press release as Exhibit 99.1 titled “Nektar Therapeutics Reports Third Quarter 2025 Financial Results.”

The information is furnished under Item 2.02 and is expressly stated as not deemed “filed” under Section 18 of the Exchange Act and not incorporated by reference into other SEC filings. Nektar’s common stock trades on the Nasdaq Capital Market under the symbol NKTR.

Nektar Therapeutics filed a current report describing new clinical data from its ongoing REZOLVE-AD Phase 2b study of rezpegaldesleukin in atopic dermatitis. The company posted a slide deck on its website with additional efficacy and safety information and furnished it as Exhibit 99.1. Nektar also issued a press release about the new data and a late-breaker oral presentation at EADV 2025, furnished as Exhibit 99.2. These materials are being furnished, not filed, which limits their use under certain securities law provisions.

Nektar Therapeutics (Nasdaq: NKTR) filed an 8-K announcing that Nasdaq has formally confirmed the company has regained compliance with Listing Rule 5550(a)(2). The June 24 2025 letter follows ten consecutive business days—ending June 23—during which NKTR’s common stock closed at or above $1.00, satisfying the Minimum Bid Price Rule. The original deficiency notice was dated April 3 2025 and had provided until September 30 2025 to cure. With the requirement met, the deficiency matter is closed and no further action is required. No additional financial data were disclosed beyond the Inline XBRL cover page.

The filing removes an immediate delisting threat and lowers listing-related risk for shareholders.

Event overview: On 24 June 2025 Nektar Therapeutics (Nasdaq: NKTR) furnished an 8-K disclosing top-line Phase 2b REZOLVE-AD results for rezpegaldesleukin in 393 moderate-to-severe atopic dermatitis (AD) patients. All three dose arms met the primary endpoint of mean EASI improvement at week 16 versus placebo (61%, 58% and 53% vs 31%; p<0.001).

Key week-16 efficacy:

• EASI-75: 42%, 46%, 34% vs 17% placebo (all p<0.05).
• vIGA-AD 0/1: 20% (high) & 26% (middle) vs 8% placebo.
• EASI-90 reached 25% (high dose; p<0.05).
• Body Surface Area improvement: 54%, 48%, 43% vs 17% placebo (p<0.001).

Mechanistic data: Blood biomarkers showed up to 6-fold expansion of regulatory T cells, with proportional decreases in Th2 cytokines (IL-19, TARC/CCL17, periostin, MDC/CCL22), supporting on-target immunomodulation.

Safety snapshot (16-week induction):

• ISRs in 69.7% of treated patients; 99.6% mild/moderate; <1% discontinuation.
• TEAEs (excluding ISRs): 60.3% drug vs 57.5% placebo.
• Serious drug-related AEs: 0.6% (2/320).
• No increased conjunctivitis, oral ulcers or infections.

Next milestones: Presentation of 16-week data at a 2025 medical congress, 52-week maintenance read-out in early 2026, and Phase 2b alopecia areata topline in Q4-2025.

Investment considerations: Meeting multiple efficacy endpoints and demonstrating dose-dependent biomarker activity materially de-risk the program and enhance partnering or financing optionality. Nonetheless, rezpegaldesleukin remains mid-stage; high ISR incidence, 5.6% treatment-related discontinuations, and the need for durable 52-week data add development and competitive risk.