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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

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):


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Revenue:	$	11,175		$	23,489		$	21,635		$	45,128
Operating costs and expenses:
Cost of goods sold		—			9,740			—			18,274
Clinical development, contract manufacturing and other third party costs
Rezpegaldesleukin (cytokine Treg stimulant)		12,930			12,099			26,733			20,983
NKTR-0165 (tumor necrosis factor receptor type II agonist)		3,531			1,833			5,812			3,851
NKTR-255 (IL-15 receptor agonist)		2,232			4,196			3,621			7,682
Discovery research and other programs		386			1,173			855			2,240
Total clinical development, contract manufacturing and other third party costs		19,079			19,301			37,021			34,756
Employee costs (a)(b)		10,920			10,054			22,894			20,371
Facilities costs (a)		2,968			4,106			6,326			8,638
Other operating costs (a)(c)		10,324			11,224			27,584			22,429
Other segment expenses		4,114			18,838			8,575			25,861
Total operating costs and expenses		47,405			73,263			102,400			130,329
Loss from operations		(36,230	)		(49,774	)		(80,765	)		(85,201	)
Non-operating income (expense):
Non-cash interest expense on liability related to sale of future royalties		(5,394	)		(6,408	)		(10,368	)		(11,939	)
Interest income		1,969			3,901			4,843			8,121
Other income (expense), net		260			(36	)		526			(135	)
Total non-operating income (expense), net		(3,165	)		(2,543	)		(4,999	)		(3,953	)
Loss before provision (benefit) for income taxes and equity method investment		(39,395	)		(52,317	)		(85,764	)		(89,154	)
Provision (benefit) for income taxes		(188	)		46			(136	)		11
Loss before equity method investment		(39,207	)		(52,363	)		(85,628	)		(89,165	)
Loss from equity method investment		(2,386	)		—			(6,847	)		—
Net loss	$	(41,593	)	$	(52,363	)	$	(92,475	)	$	(89,165	)

Schedule of Other Segment Expense Items Included within Net Loss

Other segment expense items included within net loss include the following (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Impairment of right-of-use assets and property, plant and equipment	$	-	$	8,329	$	-	$	8,329
Contract termination costs		447		4,960		616		5,935
Stock-based compensation (a)		3,486		4,893		7,384		10,260
Depreciation and amortization expense (a)		181		656		575		1,337
Total other segment expenses	$	4,114	$	18,838	$	8,575	$	25,861

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 Condensed Consolidated Statements of Operations. Such amounts reported in cost of goods sold in our Condensed 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.

Includes legal and patent expenses, information technology infrastructure and other costs, professional accounting, insurance, travel and entertainment and other third party services and expenses.