XML 28 R22.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment Reporting | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | Note 10 — Segment Reporting We operate in one business segment which focuses on applying our expertise to develop novel drug candidates. Our business offerings have similar economics and other characteristics, including the nature of products and manufacturing processes, types of customers, distribution methods and regulatory environment. We are comprehensively managed as one business segment by our Chief Executive Officer, who is our chief operating decision maker (CODM). The CODM assesses the performance of the Company and decides how to allocate resources based upon net loss that is also reported within the Condensed Consolidated Statements of Operations. The measure of segment assets that is reviewed by the CODM is reported within the Condensed Consolidated Balance Sheet as total assets. The following is a summary of the significant expense categories and consolidated net loss details provided to the CODM (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenue: |  | $ | 11,790 |  |  | $ | 24,124 |  |  | $ | 33,425 |  |  | $ | 69,252 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  |  | — |  |  |  | 4,435 |  |  |  | — |  |  |  | 22,709 |
Clinical development, contract manufacturing and other third party costs |  |  |  |  |  |  |  |  |  |  |  |
Rezpegaldesleukin (IL-2 receptor agonist/regulatory T cell agent) |  |  | 11,155 |  |  |  | 15,684 |  |  |  | 37,888 |  |  |  | 36,667 |
NKTR-0165 (tumor necrosis factor receptor type II agonist) |  |  | 3,119 |  |  |  | 3,900 |  |  |  | 8,931 |  |  |  | 7,751 |
NKTR-255 (IL-15 receptor agonist) |  |  | 1,413 |  |  |  | 5,108 |  |  |  | 5,034 |  |  |  | 12,790 |
Discovery research and other programs |  |  | 163 |  |  |  | (371 | ) |  |  | 1,018 |  |  |  | 1,869 |
Total clinical development, contract manufacturing and other third party costs |  |  | 15,850 |  |  |  | 24,321 |  |  |  | 52,871 |  |  |  | 59,077 |
Employee costs (a)(b) |  |  | 10,888 |  |  |  | 9,544 |  |  |  | 33,782 |  |  |  | 29,915 |
Facilities costs (a) |  |  | 3,052 |  |  |  | 3,779 |  |  |  | 9,378 |  |  |  | 12,417 |
Other operating costs (a)(c) |  |  | 10,297 |  |  |  | 11,013 |  |  |  | 37,881 |  |  |  | 33,442 |
Other segment expenses |  |  | 3,375 |  |  |  | 5,377 |  |  |  | 11,950 |  |  |  | 31,238 |
Total operating costs and expenses |  |  | 43,462 |  |  |  | 58,469 |  |  |  | 145,862 |  |  |  | 188,798 |
Loss from operations |  |  | (31,672 | ) |  |  | (34,345 | ) |  |  | (112,437 | ) |  |  | (119,546 | )
Non-operating income (expense): |  |  |  |  |  |  |  |  |  |  |  |
Non-cash interest expense on liability related to sale of future royalties |  |  | (6,047 | ) |  |  | (6,020 | ) |  |  | (16,415 | ) |  |  | (17,959 | )
Interest income |  |  | 2,819 |  |  |  | 3,437 |  |  |  | 7,662 |  |  |  | 11,558 |
Other income (expense), net |  |  | (121 | ) |  |  | (120 | ) |  |  | 405 |  |  |  | (255 | )
Total non-operating income (expense), net |  |  | (3,349 | ) |  |  | (2,703 | ) |  |  | (8,348 | ) |  |  | (6,656 | )
Loss before provision (benefit) for income taxes and equity method investment |  |  | (35,021 | ) |  |  | (37,048 | ) |  |  | (120,785 | ) |  |  | (126,202 | )
Provision (benefit) for income taxes |  |  | (33 | ) |  |  | 9 |  |  |  | (169 | ) |  |  | 20 |
Loss before equity method investment |  |  | (34,988 | ) |  |  | (37,057 | ) |  |  | (120,616 | ) |  |  | (126,222 | )
Loss from equity method investment |  |  | (534 | ) |  |  | — |  |  |  | (7,381 | ) |  |  | — |
Net loss |  | $ | (35,522 | ) |  | $ | (37,057 | ) |  | $ | (127,997 | ) |  | $ | (126,222 | )
Other segment expense items included within net loss include the following (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Impairment of right-of-use assets and property, plant and equipment |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 8,329 |
Contract termination costs |  |  | 140 |  |  |  | 46 |  |  |  | 756 |  |  |  | 5,981 |
Stock-based compensation (a) |  |  | 3,072 |  |  |  | 4,875 |  |  |  | 10,456 |  |  |  | 15,136 |
Depreciation and amortization expense (a) |  |  | 163 |  |  |  | 456 |  |  |  | 738 |  |  |  | 1,792 |
Total other segment expenses |  | $ | 3,375 |  |  | $ | 5,377 |  |  | $ | 11,950 |  |  | $ | 31,238 |
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 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. b) Includes compensation and benefits for our employees and costs for our contractors and temporary workers. 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.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration