Nektar Therapeutics (NKTR) Stock Analysis
Healthcare · Biotechnology · NasdaqCM
Nektar Therapeutics (NKTR) posted $55.23M in revenue for fiscal 2025 (down 43.9% year over year), with a net loss of $164.08M, and has compounded revenue about -18.4%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Nektar Therapeutics
Nektar Therapeutics has grown revenue from $165.44M to $55.23M over the last 10 fiscal years, compounding about -18.4% a year. The most recent year was down 43.9%, so growth has cooled from its longer-run pace.
Net margin sits at -297.1%, down 176.2 points year over year on a 100% gross margin.
The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Nektar Therapeutics's SEC filings — descriptive, not advice. Ask the analyst your own question →
Nektar Therapeutics revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $165.44M | $307.71M | $1.19B | $114.62M | $152.91M | $101.91M | $92.06M | $90.12M | $98.43M | $55.23M |
| Gross profit | $135.22M | $277.16M | $1.17B | $93.24M | $133.44M | $77.01M | $70.42M | $56.35M | $67.74M | $55.23M |
| Net income | $-153.52M | $-96.69M | $681.31M | $-440.67M | $-444.44M | $-523.84M | $-368.20M | $-276.06M | $-118.96M | $-164.08M |
| Net margin | -92.8% | -31.4% | 57.1% | -384.5% | -290.6% | -514.0% | -400.0% | -306.3% | -120.9% | -297.1% |
Source: Nektar Therapeutics SEC filings (10-K). 17 years of history available in the interactive view.
Nektar Therapeutics: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 64.8% over 4 years (12.4M → 20.4M) — existing holders' stakes are being diluted.
- Currently unprofitableThe latest fiscal year was a net loss (net margin -297.1%).
Explore 17 years of Nektar Therapeutics financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Nektar Therapeutics financial history by metric
About Nektar Therapeutics
Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. It develops rezpegaldesleukin, which is in Phase 2b to treat underlying immune system imbalance in people with autoimmune disorders and inflammatory diseases; NKTR-0165 to treat ulcerative colitis, vitiligo, and multiple sclerosis; NKTR-0166 to treat autoimmune disease; NKTR-422 to treat fibrotic diseases; and NKTR-255 to treat solid tumors and large b-cell lymphoma. It has collaboration agreements with Takeda Pharmaceutical Company Ltd.; AstraZeneca AB; UCB Pharma; F. Hoffmann-La Roche Ltd; Bausch Health Companies Inc.; Pfizer Inc.; UCB Pharma (Biogen); Bristol-Myers Squibb Company; and Merck KGaA. The company was incorporated in 1990 and is headquartered in San Francisco, California.
Nektar Therapeutics — frequently asked questions
What is Nektar Therapeutics's revenue?
Nektar Therapeutics (NKTR) reported revenue of $55.23M for fiscal year 2025, down 43.9% from the prior year, according to its SEC filings.
Is Nektar Therapeutics profitable?
No — NKTR reported a net loss of $-164.08M in fiscal 2025.
What is NKTR's P/E ratio?
Nektar Therapeutics trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is Nektar Therapeutics growing?
NKTR's revenue grew at roughly -18.4% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Nektar Therapeutics have?
As of fiscal year 2025, NKTR carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Nektar Therapeutics's gross margin?
NKTR's gross margin was 100.0% in fiscal 2025 — gross profit of $55.23M on revenue of $55.23M.
What is Nektar Therapeutics's market cap?
Nektar Therapeutics (NKTR) has a market capitalization of about $1.99B, based on the latest data in our nightly-refreshed cache.
When does Nektar Therapeutics's fiscal year end?
NKTR's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Nektar Therapeutics's official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.