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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Summary of Significant Expense Categories and Consolidated Net Loss | The following is a summary of the significant expense categories and consolidated net loss details provided to the CODM (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Revenue: |  | $ | 98,427 |  |  | $ | 90,122 |
Operating costs and expenses: |  |  |  |  |  |
Cost of goods sold |  |  | 30,686 |  |  |  | 33,768 |
Clinical development, contract manufacturing and other third party costs |  |  |  |  |  |
Rezpegaldesleukin (cytokine Treg stimulant) |  |  | 49,382 |  |  |  | 14,554 |
NKTR-255 (IL-15 receptor agonist) |  |  | 15,795 |  |  |  | 26,132 |
NKTR-0165 (tumor necrosis factor receptor type II agonist) |  |  | 9,339 |  |  |  | 9,345 |
Discovery research and other programs |  |  | 2,334 |  |  |  | 7,218 |
Total clinical development, contract manufacturing and other third party costs |  |  | 76,850 |  |  |  | 57,249 |
Employee costs (a)(b) |  |  | 40,204 |  |  |  | 55,572 |
Facilities costs (a) |  |  | 16,821 |  |  |  | 20,832 |
Other operating costs (a)(c) |  |  | 42,047 |  |  |  | 37,048 |
Other segment expenses |  |  | 37,407 |  |  |  | 149,337 |
Gain on sale of the Huntsville manufacturing facility |  |  | (40,390 | ) |  |  | — |
Total operating costs and expenses |  |  | 203,625 |  |  |  | 353,806 |
Loss from operations |  |  | (105,198 | ) |  |  | (263,684 | )
Non-operating income (expense): |  |  |  |  |  |
Non-cash interest expense on liability related to sale of future royalties |  |  | (28,112 | ) |  |  | (25,334 | )
Interest income |  |  | 14,500 |  |  |  | 19,009 |
Other income (expense), net |  |  | (390 | ) |  |  | (6,247 | )
Total non-operating income (expense), net |  |  | (14,002 | ) |  |  | (12,572 | )
Loss before provision for income taxes |  | $ | (119,200 | ) |  | $ | (276,256 | )
Schedule of Other Segment Expense Items Included within Net Loss | Other segment expense items included within net loss include the following (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Impairment of right-of-use assets and property, plant and equipment |  | $ | 8,329 |  |  | $ | 35,328 |
Loss on sale of other property, plant and equipment, net |  |  | — |  |  |  | 1,300 |
Contract termination costs |  |  | 7,341 |  |  |  | 1,953 |
Goodwill impairment |  |  | — |  |  |  | 76,501 |
Stock-based compensation (a) |  |  | 19,666 |  |  |  | 30,210 |
Depreciation and amortization expense (a) |  |  | 2,071 |  |  |  | 4,045 |
Total other segment expenses |  | $ | 37,407 |  |  | $ | 149,337 |
a) Employee costs, facilities costs, other operating costs, stock-based compensation expense and depreciation and amortization expense include amounts reported in research and development expense and general and administrative expense in our Consolidated Statements of Operations. Such amounts reported in cost of goods sold in our Consolidated Statements of Operations are included in cost of goods sold in the summary of significant segment expenses. b) Includes compensation and benefits for our employees and costs for our contractors and temporary workers and includes severance expense of zero and $7.9 million for the years ended December 31, 2024 and 2023, respectively. c) Includes legal and patent expenses, information technology infrastructure and other costs, professional accounting, insurance, travel and entertainment and other third-party services and expenses.
Schedule of Revenue by Geographic Area | Revenue by geographic area is based on the headquarters or shipping locations of our partners. The following table sets forth revenue by geographic area (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
United States |  | $ | 1,375 |  |  | $ | 11,481 |
Rest of World |  |  | 97,052 |  |  |  | 78,641 |
Total revenue |  | $ | 98,427 |  |  | $ | 90,122 |

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