Nektar Therapeutics Secures Financial Runway for Phase 3 Trials

The biotech firm reported a net loss of $40.6 million for the second quarter of 2026, a slight improvement from the $41.6 million loss recorded during the same period in 2025. Revenue for the quarter reached $10.1 million, reflecting a marginal dip from the previous year’s $11.2 million. Despite the ongoing losses typical of a clinical-stage developer, management emphasized that their balance sheet is fortified by a successful stock offering in April 2026, which generated $373.8 million in gross proceeds.

Research and development spending climbed to $39.1 million this quarter, up from $29.9 million a year ago, as the company ramped up manufacturing and initiated the ZENITH AD program. Conversely, general and administrative expenses saw a sharp decline, dropping to $12.8 million from $17.1 million, largely due to reduced legal costs. CEO Howard W. Robin confirmed that the company remains on track for its first BLA submission for rezpegaldesleukin in 2029, with initial Phase 3 data readouts anticipated by mid-2028.