{
  "url": "https://struct.news/briefs/nektars-drug-investment-rose-as-revenue-fell-and-cash-burn-got-worse",
  "title": "Nektar’s drug investment rose as revenue fell, and cash burn got worse",
  "summary": "Operating cash flow reached negative $120.1 million in six months, nearly 12 times revenue.",
  "published_at": "2026-08-14T10:10:08.288594+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "Nektar Therapeutics",
    "ticker": "NKTR",
    "cik": "1193125",
    "sector": "Healthcare",
    "industry": "Biotechnology"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-08-14",
    "accession": "0001193125-26-349805",
    "url": "https://www.sec.gov/Archives/edgar/data/906709/000119312526349805/nktr-20260630.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-08-08",
    "url": "https://www.sec.gov/Archives/edgar/data/906709/000095017025105275/nktr-20250630.htm"
  },
  "reported_figures": [
    {
      "group": "The filing in three numbers",
      "label": "Revenue",
      "value": 55232000,
      "display": "$55.2M",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-Q",
        "accession": "0001193125-26-349805",
        "filing_date": "2026-08-14"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Revenue YoY",
      "value": -43.88531602101049,
      "display": "-43.9%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001193125-26-349805",
        "filing_date": "2026-08-14"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Operating margin",
      "value": -253.6609212050985,
      "display": "-253.7%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001193125-26-349805",
        "filing_date": "2026-08-14"
      }
    }
  ],
  "watch_next": [
    {
      "type": "filing_language",
      "statement": "Nektar expects non-cash royalty revenue to decline as royalty terms for several products end, while non-cash interest expense rises slightly.",
      "importance": "medium",
      "evidence": "We expect non-cash royalty revenue to decrease for 2026 as compared to 2025 due to the end of the royalty terms for several products",
      "source_date": "2026-08-14"
    }
  ],
  "related_tickers": [
    "NKTR"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}