Nektar Therapeutics (NASDAQ:NKTR) changed 1.79% to recent value of $19.88. The stock transacted 1129047 shares during most recent day however it has an average volume of 1.50M shares. It spotted trading -46.05% off 52-week high price. On the other end, the stock has been noted 45.85% away from the low price over the last 52-weeks.
On May 07, 2020, Nektar Therapeutics (NASDAQ:NKTR) released financial results for the first quarter ended March 31, 2020.
Cash and investments in marketable securities at March 31, 2020 were approximately $1.5 billion as compared to $1.6 billion at December 31, 2019.
Summary of Q1 2020 Financial Results
Revenue in the first quarter of 2020 was $50.6 million as compared to $28.2 million in the first quarter of 2019. The increase was due primarily to the recognition of a $25.0 million milestone payment from Bristol-Myers Squibb related to the initiation of the registrational trial of bempegaldesleukin plus Opdivo® in muscle-invasive bladder cancer.
Total operating costs and expenses in the first quarter of 2020 were $184.2 million as compared to $148.9 million in the first quarter of 2019. Total operating costs and expenses increased primarily as a result of impairment of assets and other costs for NKTR-181, partially offset by a decrease in R&D.
During the first quarter of 2020, Nektar reported $45.2 million in impairment charges and additional costs related to the discontinuation of the NKTR-181 program, which was announced in January 2020. This includes $19.7 million for the impairment of advance payments to contract manufacturers for commercial batches of NKTR-181, and $25.5 million of additional costs, primarily for non-cancellable commitments to contract manufacturers and certain severance costs.
R&D expense in the first quarter of 2020 was $109.0 million as compared to $118.5 million for the first quarter of 2019. The decrease was due primarily to pre-commercial manufacturing costs for NKTR-181 incurred during the three months ended March 31, 2019.
NKTR has a gross margin of 81.40%. Its earnings per share (EPS) expected to touch remained -166.60% for this year while earning per share for the next 5-years is expected to reach at -7.30%.
The company has 189.20M of outstanding shares and 175.47M shares were floated in the market. According to the most recent quarter its current ratio was 4 that represents company’s ability to meet its current financial obligations. The price moved ahead of 3.57% from the mean of 20 days, 8.14% from mean of 50 days SMA and performed -1.65% from mean of 200 days price. Company’s performance for the week was 3.54%, 13.02% for month and YTD performance remained -7.90%.