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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

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

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.

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.

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