Nkarta Q3 2026 net loss widens to $33.3M
Nkarta expects its current cash and cash equivalents to fund its operating plan into 2029 while enrollment in its NKX019 trials continues.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Nkarta, Inc. (NKTX) reported a third-quarter 2026 net loss of $33.326 million, or $0.45 per basic and diluted share, compared with a $21.715 million loss, or $0.29 per share, in the third quarter of 2025. Research and development expenses were $29.464 million, versus $20.198 million; general and administrative expenses were $6.313 million, versus $7.088 million. Total operating expenses were $35.777 million, compared with $27.286 million.
Enrollment continues in the Ntrust-1 and Ntrust-2 multi-center, open-label, dose-escalation trials of NKX019 for autoimmune diseases. Patients are being dosed at 4 billion cells per dose for three doses, 12 billion cells total. Nkarta said initial data are to be presented at ACR Convergence 2026, with oral myositis data on November 8, 2026, a systemic sclerosis poster on November 9, 2026, and oral safety data across autoimmune indications on November 11, 2026.
Cash, cash equivalents, restricted cash and investments were $216.026 million as of September 30, 2026. Nkarta expects its current cash and cash equivalents to fund its current operating plan into 2029.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- None.
Negative
- Moderate pointQuarterly net loss rose to $33.326 million from $21.715 million.
8-K Event Classification
Key Figures
Key Terms
open-label medical
dose-escalation medical
lymphodepletion medical
allogeneic technical
membrane-bound form of interleukin-15 (IL-15) medical
Earnings Snapshot
Nkarta expects its current cash and cash equivalents to fund its current operating plan into 2029.
FAQ
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 5, 2026, Nkarta, Inc. (the “Company”) issued a press release announcing its financial results for the third quarter ended September 30, 2026. A copy of the Company’s press release is attached hereto as Exhibit 99.1.
The information in Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be, or be deemed, incorporated by reference in any filings under the Securities Act of 1933, as amended (the “Securities Act”), unless the Company specifically states that the information is to be considered “filed” under the Exchange Act or incorporates it by reference into a filing under the Securities Act or the Exchange Act.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Description |
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99.1 |
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Press Release, dated November 5, 2026, entitled “Nkarta Reports Third Quarter 2026 Financial Results and Provides Business Update” |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Nkarta, Inc. |
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Date: November 5, 2026 |
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By: |
/s/ Nadir Mahmood |
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Nadir Mahmood |
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President |
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Exhibit 99.1
Nkarta Reports Third Quarter 2026 Financial Results
and Provides Business Update
SOUTH SAN FRANCISCO, Calif., November 5, 2026 (GLOBE NEWSWIRE) -- Nkarta, Inc. (Nasdaq: NKTX), a clinical-stage biotechnology company developing engineered natural killer (NK) cell therapies to treat autoimmune diseases, today reported financial results for the third quarter ended September 30, 2026.
"NKX019 is advancing in our two lead indications, myositis and systemic sclerosis," said Paul J. Hastings, Chief Executive Officer of Nkarta. "We’re delighted to have been selected to present our initial clinical data in two oral presentations and one poster presentation at ACR Convergence 2026 in Orlando. We believe that the safety profile of engineered CAR-NK cells could broaden cell therapy access to reach far more patients. With off-the-shelf availability and outpatient dosing at a growing network of community-based sites, our program is designed to deliver on that potential."
NKX019 Clinical Program Progress and Upcoming Milestones
Third Quarter 2026 Financial Highlights
Financial Guidance
About the Ntrust℠ Clinical Trials in Autoimmune Disease
Ntrust-1 (NCT06557265) and Ntrust-2 (NCT06733935) are multi-center, open-label, dose-escalation clinical trials in patients with autoimmune disease receiving lymphodepletion followed by CD19-targeted CAR-NK cell therapy. Both trials assess the safety of NKX019 in people living with autoimmune diseases as well as its potential to achieve durable remission via a “reset” of the immune system through the elimination of pathogenic B cells.
The Ntrust trials are enrolling up to 12 patients per dose level per disease indication, with leading indications in myositis and systemic sclerosis, as well as ANCA-associated vasculitis, rheumatoid arthritis, lupus nephritis, and primary membranous nephropathy. Additional patients may be enrolled if needed to refine patient populations for further study.
In both studies, patients receive a three-dose cycle of NKX019 following lymphodepletion with fludarabine and cyclophosphamide or cyclophosphamide alone, if they have significant cytopenia at baseline. This approach is designed to evaluate the single-agent activity of NKX019 and facilitate a more rapid path to regulatory approval. Patients in both trials may also receive additional cycles, if needed, to restore response or enable a deeper response.
About NKX019
NKX019 is an allogeneic, cryopreserved, off-the-shelf immunotherapy candidate that uses natural killer (NK) cells derived from the peripheral blood of healthy adult donors. It is engineered with a humanized CD19-directed chimeric antigen receptor (CAR) for enhanced cell targeting and a proprietary, membrane-bound form of interleukin-15 (IL-15) for greater persistence and activity without exogenous cytokine support. CD19 is a biomarker for normal B cells as well as those implicated in autoimmune disease. Nkarta is evaluating NKX019 in multiple autoimmune conditions.
About Nkarta
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Nkarta is a clinical-stage biotechnology company advancing the development of allogeneic, off-the-shelf natural killer (NK) cell therapies for people living with autoimmune diseases. By harnessing the power of the innate immune system to eliminate pathogenic B cells driving the autoimmune response, Nkarta is advancing novel cell therapies engineered for deep therapeutic impact. The on-demand availability and outpatient dosing of our CAR-NK cells enables a broad population of patients with different autoimmune conditions to conveniently access NK cell therapy in community health settings. For more information, please visit the company’s website at www.nkartatx.com.
Cautionary Note on Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “anticipates,” “believes,” “expects,” “intends,” “plans,” “potential,” “projects,” “would” and “future” or similar expressions are intended to identify forward-looking statements. Examples of these forward-looking statements include, but are not limited to, statements concerning Nkarta’s expectations regarding any or all of the following: Nkarta’s position, plans, strategies, and timelines for the continued and future clinical development and potential of NKX019 (including the future availability and disclosure of clinical data and other updates from Nkarta’s clinical trials); the therapeutic potential, accessibility and tolerability of NKX019 for the treatment of autoimmune diseases, including as a result of advancing Nkarta’s dose escalation and expansion of outpatient dosing in community-based settings; and Nkarta’s expected cash runway.
Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: Nkarta’s limited operating history and historical losses; Nkarta’s lack of any products approved for sale and its ability to achieve profitability; the risk that the results of preclinical studies and early-stage clinical trials may not be predictive of future results; the risk that initial, interim or preliminary data from Nkarta’s clinical trials, including the data to be presented at ACR Convergence 2026, reflect a limited number of patients with limited follow-up, may change as more patient data become available and may not be predictive of future results; Nkarta’s ability to raise additional funding to complete the development and any commercialization of its product candidates; Nkarta’s dependence on the clinical success of NKX019, including in its leading indications of myositis and systemic sclerosis; risks associated with outpatient administration of NKX019 at community-based sites; that Nkarta may be delayed in initiating, enrolling patients in or completing its clinical trials; competition from third parties that are developing products for similar uses; Nkarta’s ability to obtain, maintain and protect its intellectual property; Nkarta’s dependence on third parties in connection with manufacturing, clinical trials and pre-clinical studies; and the complexity of the manufacturing process for CAR-NK cell therapies.
These and other risks and uncertainties are described more fully in Nkarta’s filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of Nkarta’s
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Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed with the SEC on August 10, 2026, and Nkarta’s other documents subsequently filed with or furnished to the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, Nkarta undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Nkarta, Inc.
Condensed Statements of Operations
(in thousands, except share and per share data)
(Unaudited)
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Operating expenses |
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Research and development |
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$ |
29,464 |
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$ |
20,198 |
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$ |
83,498 |
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$ |
65,148 |
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General and administrative |
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6,313 |
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7,088 |
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26,283 |
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25,888 |
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Total operating expenses |
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35,777 |
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27,286 |
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109,781 |
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91,036 |
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Loss from operations |
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(35,777 |
) |
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(27,286 |
) |
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(109,781 |
) |
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(91,036 |
) |
Other income, net: |
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Interest income |
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2,245 |
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3,852 |
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7,621 |
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12,198 |
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Other income, net |
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206 |
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1,719 |
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634 |
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2,163 |
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Total other income, net |
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2,451 |
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5,571 |
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8,255 |
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14,361 |
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Net loss |
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$ |
(33,326 |
) |
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$ |
(21,715 |
) |
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$ |
(101,526 |
) |
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$ |
(76,675 |
) |
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Net loss per share, basic and diluted |
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$ |
(0.45 |
) |
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$ |
(0.29 |
) |
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$ |
(1.36 |
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$ |
(1.04 |
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Weighted average shares used to compute |
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74,637,689 |
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74,024,543 |
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74,464,897 |
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73,973,278 |
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4
Nkarta, Inc.
Condensed Balance Sheets
(in thousands)
(Unaudited)
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September 30, |
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December 31, |
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Assets |
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Cash, cash equivalents, restricted cash and investments |
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$ |
216,026 |
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$ |
295,129 |
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Property and equipment, net |
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54,595 |
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66,721 |
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Operating lease right-of-use assets |
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30,500 |
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34,429 |
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Other assets |
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7,340 |
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7,930 |
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Total assets |
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$ |
308,461 |
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$ |
404,209 |
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Liabilities and stockholders' equity |
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Accounts payable, accrued and other liabilities |
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$ |
20,675 |
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$ |
15,464 |
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Operating lease liabilities |
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72,037 |
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76,420 |
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Total liabilities |
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92,712 |
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91,884 |
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Stockholders’ equity |
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215,749 |
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312,325 |
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Total liabilities and stockholders’ equity |
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$ |
308,461 |
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$ |
404,209 |
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Nkarta Media/Investor Contact:
Nadir Mahmood
Nkarta, Inc.
nmahmood@nkartatx.com
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