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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