EarningsQ2 2026 Earnings Report
DE:ITH0 Q2 2026 EPS Results
Actual EPS-€1.09
Consensus EPS-€1.75
Beat/MissBeat by +€0.66
One Year Ago EPS-€2.62
DE:ITH0 Q2 2026 Revenue Results
Actual Revenue€9.01M
Expected Revenue€9.28M
Beat/MissMissed by -€261.60K
YoY Revenue Growth-9.34%
Earnings Announcement Details
QuarterQ2 2026
Date08/13/2026
TimeAfter Close
Conference CallThursday, August 13, 2026
DE:ITH0 Upcoming Earnings
Nektar Therapeutics's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:ITH0 Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call contained multiple substantial positive developments: initiation of the global Phase 3 program in atopic dermatitis, FDA-aligned registrational design for alopecia areata, strong Phase 2b signals (efficacy, durability, favorable safety), robust cash balance after a $350M offering, and encouraging market research supporting commercial potential. Offsetting these positives are expected higher R&D and G&A spend, a meaningful quarterly net loss, modest near-term revenue largely from non-cash royalties, a cash runway that covers key mid-2028 readouts but leaves limited buffer for delays, and an ongoing litigation matter. On balance the strategic, clinical, and financial highlights outweigh the risks described on the call.Company Guidance
Phase 3 Program Initiation for Atopic Dermatitis (Zenith AD)
Initiated global Phase 3 Zenith AD program for rezpeg in moderate-to-severe atopic dermatitis in July; first two pivotal studies (biologic and JAK inhibitor naive) began randomization in July with a 24-week induction and 28-week maintenance through week 52, evaluating monthly and quarterly maintenance dosing.
Registrational Study Alignment for Alopecia Areata (Zenith AA)
Received FDA alignment on a single registrational Phase 3 study for alopecia areata (ZENITH AA) — 850 adolescents and adults (≥12 yrs) randomized 2:1 to rezpeg 24 mcg/kg q2 weeks vs placebo for 52 weeks; primary endpoint SALT ≤20 at week 52; planned initiation in early 2027 and expected data in H2 2029.
Positive Phase 2b Clinical Signals (RESOLVE AD & AA)
RESOLVE AD Phase 2b showed rapid onset and deepening responses over time with high complete skin clearance (notably up to a 5-fold increase in EASI-100 during 36-week maintenance); demonstrated favorable safety (no increased infection risk and no conjunctivitis observed) and durable responses off treatment in earlier studies (~9 months in Phase 1b).
Strong Cash Position and Financing
Ended the quarter with approximately $1.02 billion in cash and investments; completed an April underwritten public offering generating $350 million in net proceeds; cash runway expected into Q3 2028 and year-end 2026 cash guidance of $815–$840 million.
Clear Commercial Market Opportunity and Market Research Support
Market research (151 high-volume prescribers/KOLs) reinforced commercial thesis: physicians expressed strong enthusiasm for a novel MOA, called out quarterly maintenance and EASI-100 as differentiators, cited comorbid asthma benefit, and 150 of 151 (~99.3%) said injection-site reactions would not hinder prescribing.
Relevant Market Size and Unmet Need Metrics
Addressable patient pools: >15 million people in U.S. with moderate-to-severe atopic dermatitis (fewer than 10% treated with systemic therapy) and ~6.7 million U.S. patients with alopecia areata (majority untreated); roughly 50% of patients on IL-13 agents either do not respond or lose response over time — highlighting unmet need.
Revenue and Guidance
Second quarter non-cash royalty revenue of $10.1 million; full-year 2026 revenue guidance maintained at $40–$45 million.
Pipeline Expansion Beyond Lead Indications
Ongoing TrialNet-sponsored Phase 2 in new-onset type 1 diabetes with first cohort data expected in 2027; advancing TNFR2 programs (NKTR-0165 bivalent TNFR2 agonist and NKTR-0166 TNFR2-containing bispecific) for additional autoimmune indications; oral presentations for lead programs accepted at EADV in October.
DE:ITH0 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed