The following is a summary of the Nektar Therapeutics, Inc. (NKTR) Q1 2024 Earnings Call Transcript:
Financial Performance:
Nektar ended Q1 with a cash balance of $326 million and anticipates to close 2024 with $200 - $225 million in cash with no recorded debt.
The company reported revenue of $21.6 million for Q1 2024 and forecasts annual revenue to range from $75 million to $85 million, comprised of $55 - $65 million in noncash royalties and $20 - $25 million from product sales.
Business Progress:
Nektar is growing its unique pipeline focusing on immunology and inflammation.
Its lead program, REZPEG, is under Phase 2b study for moderate to severe atopic dermatitis and alopecia areata, with promising momentum and expected top-line data in H1 2025.
The company has initiated IND-enabling studies for NKTR-0165, a TNFR2 agonist antibody expected to treat multiple sclerosis and other autoimmune diseases, with a goal to submit IND by mid-2025.
Partnerships for NKTR-255, an IL-15 program in oncology, are under strategic evaluation with data expected later this year.
Preclinical data for the TNFR2 program is planned to be presented at EULAR in June.
Update anticipated from Phase II of JAVELIN Bladder Medley study in H2 of the year.
NKT-0165's IND-enabling package is progressing, with planned advancement into GMP manufacture of the Phase 1 supply.
The company announced an upcoming mediation meeting in a litigation with Lilly.
More details: Nektar Therapeutics IR
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