NEKTAR THERAPEUTICS
NKTROther · Non-accelerated filer<br>Smaller reporting company · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $55.2M | $98.4M | $90.1M | $92.1M | $101.9M | $152.9M |
| Operating income | −$140.1M | −$105.2M | −$263.7M | −$376.2M | −$446.1M | −$425.1M |
| Net income | −$164.1M | −$119.0M | −$276.1M | −$368.2M | −$523.8M | −$444.4M |
| Total assets | $280.4M | $303.9M | $398.0M | $710.6M | $1.12B | $1.54B |
| Total liabilities | $190.6M | $243.1M | $267.0M | $344.0M | $437.7M | $461.5M |
| Equity | $89.8M | $60.7M | $131.0M | $366.6M | $679.5M | $1.08B |
| EPS (diluted) | $-9.73 | $-8.68 | $-1.45 | $-1.97 | $-2.86 | $-2.49 |
| Shares out. | 186.1M | 183.6M | 189.2M | 186.3M | 182.2M | 177.6M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −253.7%
- Net margin
- −297.1%
- Return on equity
- −182.6%
- Return on assets
- −58.5%
- Return on capital (ROCE)
- −61.8%
- Liabilities / assets
- 68.0%
- Debt / equity
- 2.12×
- Book value / share
- $0.48
- Revenue growth (YoY)
- −43.9%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -41.60distress
- Accruals / assets
- 15.8%high accruals
- Piotroski F-Score
- 2/9weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 1 severe● 5 warning● 0 good- Altman Z″ in the distress zone
- Operating losses (negative operating margin)
- Reported a net loss
- Revenue declined year-over-year
- Negative operating cash flow
- High accruals — earnings-quality risk
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Biotechnology Value Fund L PPassive (13G)May 15, 2026
- Fmr LlcPassive (13G)May 6, 2026
- Two Seas Capital LpPassive (13G)Apr 17, 2026
- Vanguard Group IncPassive (13G)Mar 27, 2026
- Susquehanna Securities, LlcPassive (13G)Feb 13, 2026
- Tcg Crossover Gp Ii, LlcPassive (13G)Nov 14, 2025
- Nantahala Capital Management, LlcPassive (13G)Nov 14, 2025
- Integrated Core Strategies (Us) LlcPassive (13G)Oct 28, 2025
- Blackrock, Inc.Passive (13G)Jul 18, 2025
- Samlyn Capital, LlcPassive (13G)May 15, 2025
- Eventide Asset Management, LlcPassive (13G)Feb 14, 2025
- Deep Track Capital, LpPassive (13G)Feb 14, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Zalevsky JonathanOfficer — Chief R&D Officer | May 19, 2026 | Sell | 199 | $65.51 |
| Robin Howard WOfficer — President & CEO | May 19, 2026 | Sell | 444 | $65.51 |
| Zalevsky JonathanOfficer — Chief R&D Officer | Feb 18, 2026 | Sell | 180 | $73.00 |
| Robin Howard WOfficer — President & CEO | Feb 18, 2026 | Sell | 423 | $73.00 |
| Zalevsky JonathanOfficer — Chief R&D Officer | Jan 20, 2026 | Sell | 3,867 | $35.67 |
| Zalevsky JonathanOfficer — Chief R&D Officer | Dec 22, 2025 | Grant | 6,250 | $0.00 |
| Robin Howard WOfficer — President & CEO | Dec 22, 2025 | Grant | 21,667 | $0.00 |
| Zalevsky JonathanOfficer — Chief R&D Officer | Nov 21, 2025 | Grant | 2,666 | $0.00 |
| Wilson Mark AndrewOfficer — Chief Legal Officer | Nov 21, 2025 | Grant | 1,903 | $0.00 |
| Robin Howard WOfficer — President & CEO | Nov 21, 2025 | Grant | 7,110 | $0.00 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 4.4M | 5.2 | +6.5% |
| Apr 30, 2026 | 4.1M | 2.5 | +13.0% |
| Apr 15, 2026 | 3.6M | 5.8 | -0.9% |
| Mar 31, 2026 | 3.7M | 4.3 | -0.2% |
| Mar 13, 2026 | 3.7M | 3.8 | +9.8% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Entered a material agreement · Director / officer changeMay 8, 2026
- Results of operationsMay 7, 2026
- Entered a material agreement · Other material eventApr 23, 2026
- Regulation FD disclosureApr 20, 2026
- Regulation FD disclosure · Other material eventApr 20, 2026
- Results of operationsMar 12, 2026
- Entered a material agreement · Other material eventFeb 13, 2026
- Regulation FD disclosureFeb 10, 2026
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 3May 26, 2026
- 4May 21, 2026
- 4May 21, 2026
- 144May 19, 2026
- 144May 19, 2026
- SCHEDULE 13G/AMay 15, 2026
- 424B5May 8, 2026
- 8-KMay 8, 2026
- 10-QMay 8, 2026
- 8-KCURRENT REPORTMay 7, 2026
- SCHEDULE 13G/AMay 6, 2026
- ARSApr 24, 2026
- DEFA14AApr 24, 2026
- DEF 14AApr 24, 2026
- 8-KApr 23, 2026
Event-driven situations (1)
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