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v3.25.3

Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2025
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):
|  | 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 | )
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 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.

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- Definition Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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