Nektar Therapeutics Reports Q3 Net Loss of $55.7 Million

Nektar Therapeutics reported a third-quarter net loss of $55.7 million as revenue slipped year over year, while cash and investments in marketable securities rose above $950 million.

Revenue was $9.386 million, compared with $11.8 million in the third quarter of 2025. Loss per share was $1.63. Operating costs and expenses reached $67.188 million, up from $43.5 million a year earlier.

Cash and investments in marketable securities totaled $952.9 million on Sept. 30, 2026, compared with $245.8 million on Dec. 31, 2025.

Nektar’s global Phase 3 ZENITH AA registrational trial for alopecia areata is on track to begin in December 2026. The company expects initial topline data from its atopic dermatitis program in mid-2028.