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Segment Reporting (Tables)

9 Months Ended

Sep. 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 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

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.