UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of report (Date of earliest event reported):
November 5, 2015
NEKTAR THERAPEUTICS
(Exact Name of Registrant as Specified in
Charter)
| Delaware |
|
0-24006 |
|
94-3134940 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
455 Mission Bay Boulevard South
San Francisco, California 94158
(Address of Principal Executive Offices and
Zip Code)
Registrant’s telephone number, including
area code: (415) 482-5300
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b)) |
| ☐ | | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c)) |
| Item 2.02 | | Results of Operations and Financial Condition. |
On November 5, 2015, Nektar
Therapeutics, a Delaware corporation (“Nektar”), issued a press release (the “Press Release”) announcing
its financial results for the quarter ended September 30, 2015. A copy of the Press Release is furnished herewith as Exhibit 99.1.
On October 29, 2015, Nektar
announced that it would hold a Webcast conference call on November 5, 2015 to review financial results for the quarter ended September
30, 2015. This conference call is accessible through a link that is posted on the home page and Investor Relations section of the
Nektar website: http://www.nektar.com.
The information in this report, including the
exhibit hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange
Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities
Act of 1933, as amended. The information contained herein and in the accompanying exhibit shall not be incorporated by reference
into any filing with the Securities and Exchange Commission made by Nektar Therapeutics, whether made before or after the date
hereof, regardless of any general incorporation language in such filing.
| Item 9.01 | | Financial Statements and Exhibits. |
Exhibit
No. |
|
Description |
| |
|
| 99.1 |
|
Press release titled “Nektar Therapeutics Reports Financial Results for the Third Quarter of 2015” issued by Nektar Therapeutics on November 5, 2015. |
SIGNATURES
Pursuant to the requirement of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| |
By: |
/s/ Gil M. Labrucherie |
| |
|
Gil M. Labrucherie |
| |
|
General Counsel and Secretary |
| |
|
|
| |
Date: |
November 5, 2015 |
EXHIBIT INDEX
Exhibit
No. |
|
Description |
| |
|
| 99.1 |
|
Press release titled “Nektar Therapeutics Reports Financial Results for the Third Quarter of 2015” issued by Nektar Therapeutics on November 5, 2015. |
Exhibit 99.1
Nektar
Therapeutics Reports Financial Results for the Third Quarter of 2015
SAN
FRANCISCO, Nov. 5, 2015 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) today reported its financial results for the third
quarter ended September 30, 2015.
Cash
and investments in marketable securities at September 30, 2015 were $267.8 million as compared to $279.7 million at June 30, 2015.
Cash and investments at September 30, 2015 include a $40.0 million milestone payment received from AstraZeneca in Q3 2015 for
the first commercial sale of MOVENTIG® (naloxegol) in Germany. Cash and investments at September 30, 2015 do not
include the proceeds from the $250 million direct private placement of 7.75% Senior Secured Notes due in 2020, which was closed
on October 5, 2015. A portion of the proceeds from these new $250 million Senior Notes were used to redeem fully $125.0 million
of 12% Senior Secured Notes due in 2017.
"We
have made great progress in advancing our pipeline this year," said Howard W. Robin, President and Chief Executive Officer
of Nektar. "MOVANTIK is performing very well with positive feedback from physicians and patients, ADYNOVATE is poised for
approval, the NKTR-181 Phase 3 SUMMIT-07 efficacy study is enrolling ahead of schedule and we are exceptionally pleased to report
that the FDA cleared the NKTR-214 IND earlier than anticipated. NKTR-214 has the potential to bring a new mechanism – direct
and selective stimulation of a patient's cancer-fighting T-cells -- to the next generation of cancer immunotherapies. We expect
to dose our first patients shortly at MD Anderson Cancer Center and Yale Cancer Center."
Year-to-date
revenue for 2015 was $191.4 million as compared to $181.2 million in the first nine months of 2014. The increase in revenue in
the first nine months of 2015 as compared to the same period in 2014 includes the recognition of $90.0 million of the $100.0 million
milestone payment from AstraZeneca following the first commercial sale of MOVANTIK in the U.S. and the recognition of the $40.0
million milestone payment from AstraZeneca following the first commercial sale of MOVANTIK in a major European country. In addition,
product sales and royalty revenue increased by $9.3 million in the first nine months of 2015 as compared to the same period in
2014. Revenue in the third quarter of 2015 was $60.0 million as compared to $132.9 million in the third quarter of 2014 due to
the recognition of a one-time $105 million approval milestone for MOVANTIK in the third quarter of 2014.
Total
operating costs and expenses in the third quarter of 2015 were $59.5 million as compared to $52.6 million in the third quarter
of 2014. Year-to-date total operating costs and expenses in 2015 were $191.4 million as compared to $160.2 million for the same
period in 2014. Total operating costs and expenses increased primarily as a result of increased research and development (R&D)
expense.
Research
and development expense in the third quarter of 2015 was $43.2 million as compared to $34.2 million in the third quarter of 2014.
Year-to-date R&D expense for 2015 was $135.7 million as compared to $109.2 million for the same period in 2014. R&D expense
was higher in the third quarter and first nine months of 2015 as compared to the same periods in 2014 primarily due to the initiation
of the Phase 3 efficacy trial of NKTR-181 in chronic low back pain and the long-term safety study for NKTR-181. R&D expense
for the first nine months of 2015 also increased as a result of IND-enabling and clinical study start-up activities for NKTR-214.
General
and administrative expense was $9.5 million in the third quarter of 2015 as compared to $9.1 million in the third quarter of 2014.
G&A expense in the first nine months of 2015 was $30.0 million as compared to $28.7 million for the same period in 2014.
Net
loss in the third quarter of 2015 was $8.2 million or $0.06 net loss per diluted share as compared to net income of $70.6 million
or $0.53 net income per diluted share in the third quarter of 2014. Net loss in the first nine months of 2015 was $27.0 million
or $0.21 net loss per diluted share as compared to net loss of $8.2 million or $0.07 net loss per diluted share in the first nine
months of 2014.
The
company also announced upcoming presentations at the following scientific congresses during the fourth quarter of 2015:
Society
for Immunotherapy in Cancer (SITC) 30th Anniversary Annual Meeting, National Harbor, MD:
| • | Abstract
Title: "Synergistic antitumor activity of the CD122-biased immunostimulatory
cytokine NKTR-214 when combined with anti-PD-1 in murine tumor models", Hoch,
U., et al. |
| o | Date:
November 6, 2015, 12:45 p.m. — 2:00 p.m. Eastern Time |
2015
San Antonio Breast Cancer Symposium, San Antonio, TX:
| • | Poster
P1-13-02: "Early change in topoisomerase 1 (Top1) positive circulating tumor
cells (CTCs) is associated with overall survival (OS) in patients with advanced breast
cancer after treatment with etirinotecan pegol", Rugo, H., et al. |
| o | Poster
Session: Advanced Chemotherapy |
| o | Date:
December 9, 2015, 5:00 p.m. – 7:00 p.m. Central Time |
| • | Poster
P4-11-08: "Impact of treatment on quality of life (QOL) in the BEACON study,
a randomized phase III trial of etirinotecan pegol (EP) versus Treatment of Physician's
Choice (TPC) in patients (pts) with advanced breast cancer (aBC) whose disease has progressed
following treatment with an Anthracycline, a Taxane and Capecitabine", Cortes,
J., et al. |
| o | Poster
Session: "Psychosocial, Quality of Life, and Educational Aspects: Psychosocial,
QOL, and Educational Aspects -- Other" |
| o | Date:
December 11, 2015, 7:30 a.m. — 9:00 a.m. Central Time |
Conference
Call to Discuss Third Quarter 2015 Financial Results
Nektar
management will host a conference call to review the results beginning at 5:00 p.m. Eastern Time/2:00 p.m. Pacific Time today,
Thursday, November 5, 2015.
This
press release and a live audio-only Webcast of the conference call can be accessed through a link that is posted on the home page
and Investor Relations section of the Nektar website: http://www.nektar.com. The web broadcast of the conference call will
be available for replay through Monday, December 7, 2015.
To
access the conference call, follow these instructions:
Dial:
(877) 881.2183 (U.S.); (970) 315.0453 (international)
Passcode: 65851649 (Nektar Therapeutics is the host)
In
the event that any non-GAAP financial measure is discussed on the conference call that is not described in the press release,
or explained on the conference call, related information will be made available on the Investor Relations page at the Nektar website
as soon as practical after the conclusion of the conference call.
About
Nektar
Nektar
Therapeutics has a robust R&D pipeline in pain, oncology, hemophilia and other therapeutic areas. In the area of pain, Nektar
has an exclusive worldwide license agreement with AstraZeneca for MOVANTIK™ (naloxegol), the first FDA-approved once-daily
oral peripherally-acting mu-opioid receptor antagonist (PAMORA) medication for the treatment of opioid-induced constipation (OIC),
in adult patients with chronic, non-cancer pain. The product is also approved in the European Union as MOVENTIG® (naloxegol)
and is indicated for adult patients with OIC who have had an inadequate response to laxatives. The AstraZeneca agreement also
includes NKTR-119, an earlier stage development program that is a co-formulation of MOVANTIK and an opioid. NKTR-181, a wholly-owned
mu-opioid analgesic molecule for chronic pain conditions, is in Phase 3 development. In hemophilia, ADYNOVATE™ [Antihemophilic
Factor (Recombinant)], a longer-acting PEGylated Factor VIII therapeutic has been filed for approval in the U.S. by partner Baxalta
Inc. In anti-infectives, Amikacin Inhale is in Phase 3 studies conducted by Bayer Healthcare as an adjunctive treatment for intubated
and mechanically ventilated patients with Gram-negative pneumonia.
Nektar's
technology has enabled nine approved products in the U.S. or Europe through partnerships with leading biopharmaceutical companies,
including AstraZeneca's MOVANTIK™, UCB's Cimzia® for Crohn's disease and rheumatoid arthritis, Roche's PEGASYS®
for hepatitis C and Amgen's Neulasta® for neutropenia.
Nektar
is headquartered in San Francisco, California, with additional operations in Huntsville, Alabama and Hyderabad, India. Further
information about the company and its drug development programs and capabilities may be found online at http://www.nektar.com.
MOVANTIK™
is a trademark and MOVENTIG® is a registered trademark of the AstraZeneca group of companies.
ADYNOVATE
is a trademark of Baxalta Inc.
Cautionary
Note Regarding Forward-Looking Statements
This
press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan,"
"expect," "believe," "should," "may," "will" and similar references to future
periods. Examples of forward-looking statements include, among others, statements we make regarding the potential of MOVANTIK,
the enrollment status of the SUMMIT-07 efficacy study of NKTR-181, the projected time-frame for dosing the first patient in the
clinical program for NKTR-214, Baxalta's regulatory expectations for ADYNOVATE, and the value and potential of our polymer conjugate
technology and research and development pipeline. Forward-looking statements are neither historical facts nor assurances of future
performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business,
future plans and strategies, anticipated events and trends, the economy and other future conditions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict
and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking
statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our
actual results to differ materially from those indicated in the forward-looking statements include, among others, (i) the commercial
potential of a new drug at the early stages of commercial launch, such as MOVANTIK, is difficult to predict and will have a significant
impact on our future results of operation and financial condition; (ii) the timing of the commencement or end of clinical trials
and the commercial launch of our drug candidates and those of our partners may be delayed or unsuccessful due to regulatory delays,
institutional review board review and approvals, slower than anticipated patient enrollment, manufacturing challenges, changing
standards of care, evolving regulatory requirements, clinical trial design, clinical outcomes, competitive factors, or delay or
failure in ultimately obtaining regulatory approval in one or more important markets; (iii) scientific discovery of new medical
breakthroughs is an inherently uncertain process and the future success of the application of our technology platform to potential
new drug candidates is therefore highly uncertain and unpredictable and one or more research and development programs could fail;
(iv) patents may not issue from our patent applications for our drugs (including MOVANTIK and ADYNOVATE) and drug candidates,
patents that have issued may not be enforceable, or additional intellectual property licenses from third parties may be required;
and (v) the outcome of any existing or future intellectual property or other litigation related to our drugs and drug candidates
and those of our collaboration partners including MOVANTIK and ADYNOVATE. Other important risks and uncertainties set forth in
our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 6, 2015. Any forward-looking statement
made by us in this press release is based only on information currently available to us and speaks only as of the date on which
it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from
time to time, whether as a result of new information, future developments or otherwise.
| Nektar
Investor Inquiries: |
|
| Jennifer
Ruddock/Nektar Therapeutics |
(415)
482-5585 |
| Susie
Kim/Argot Partners |
(212)
600-1902 |
| Nektar
Media Inquiries: |
|
| Nadia
Hasan/BrewLife |
(212)
257-6738 |
NEKTAR
THERAPEUTICS |
|
| CONDENSED
CONSOLIDATED BALANCE SHEETS |
|
| (In
thousands) |
|
| (Unaudited) |
|
| | |
| | | |
| | |
| ASSETS | |
| September 30, 2015 | | |
| December
31,
2014 | (1) |
| Current assets: | |
| | | |
| | |
| Cash and cash equivalents | |
$ | 18,819 | | |
$ | 12,365 | |
| Short-term investments | |
| 249,000 | | |
| 225,459 | |
| Accounts receivable, net | |
| 2,966 | | |
| 3,607 | |
| Inventory | |
| 10,352 | | |
| 12,952 | |
| Restricted cash | |
| — | | |
| 25,000 | |
| Other current assets | |
| 5,214 | | |
| 8,817 | |
| Total current assets | |
| 286,351 | | |
| 288,200 | |
| | |
| | | |
| | |
| Property, plant and equipment, net | |
| 72,532 | | |
| 70,368 | |
| Goodwill | |
| 76,501 | | |
| 76,501 | |
| Other assets | |
| 13,862 | | |
| 6,552 | |
| Total assets | |
$ | 449,246 | | |
$ | 441,621 | |
| | |
| | | |
| | |
| LIABILITIES AND STOCKHOLDERS' EQUITY | |
| | | |
| | |
| | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | |
| Accounts payable | |
$ | 2,279 | | |
$ | 2,703 | |
| Accrued compensation | |
| 12,805 | | |
| 5,749 | |
| Accrued clinical trial expenses | |
| 11,102 | | |
| 7,708 | |
| Other accrued expenses | |
| 16,561 | | |
| 6,418 | |
| Interest payable | |
| 3,167 | | |
| 6,917 | |
| Capital lease obligations, current portion | |
| 5,883 | | |
| 4,512 | |
| Deferred revenue, current portion | |
| 20,611 | | |
| 24,473 | |
| Senior secured notes, current portion | |
| 125,000 | | |
| — | |
| Other current liabilities | |
| 10,690 | | |
| 5,567 | |
| Total current liabilities | |
| 208,098 | | |
| 64,047 | |
| | |
| | | |
| | |
| Senior secured notes, less current portion | |
| — | | |
| 125,000 | |
| Capital lease obligations, less current portion | |
| 1,335 | | |
| 4,139 | |
| Liability related to sale of future royalties | |
| 121,147 | | |
| 120,471 | |
| Deferred revenue, less current portion | |
| 68,941 | | |
| 76,911 | |
| Other long-term liabilities | |
| 10,672 | | |
| 14,721 | |
| Total liabilities | |
| 410,193 | | |
| 405,289 | |
| | |
| | | |
| | |
| Commitments and contingencies | |
| | | |
| | |
| | |
| | | |
| | |
| Stockholders' equity: | |
| | | |
| | |
| Preferred stock | |
| — | | |
| — | |
| Common stock | |
| 13 | | |
| 13 | |
| Capital in excess of par value | |
| 1,854,210 | | |
| 1,824,195 | |
| Accumulated other comprehensive loss | |
| (1,821 | ) | |
| (1,567 | ) |
| Accumulated deficit | |
| (1,813,349 | ) | |
| (1,786,309 | ) |
| Total stockholders' equity | |
| 39,053 | | |
| 36,332 | |
| Total liabilities and stockholders' equity | |
$ | 449,246 | | |
$ | 441,621 | |
| | |
| | | |
| | |
| |
| (1)
The consolidated balance sheet at December 31, 2014 has been derived from the audited financial statements at that date but
does not include all of the information and notes required by generally accepted accounting principles in the United States
for complete financial statements. |
|
NEKTAR
THERAPEUTICS |
| CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS |
| (In
thousands, except per share information) |
| (Unaudited) |
| | |
| |
| |
| |
|
| | |
Three Months Ended | |
Nine Months Ended |
| | |
September 30, | |
September 30, |
| | |
2015 | |
2014 | |
2015 | |
2014 |
| | |
| |
| |
| |
|
| | |
| |
| |
| |
|
| Revenue: | |
| | | |
| | | |
| | | |
| | |
| Product sales and royalty revenue | |
$ | 7,427 | | |
$ | 6,172 | | |
$ | 27,239 | | |
$ | 17,980 | |
| Non-cash royalty revenue related to sale of future royalties | |
| 6,050 | | |
| 6,143 | | |
| 14,752 | | |
| 16,753 | |
| License, collaboration and other revenue | |
| 46,475 | | |
| 120,556 | | |
| 149,423 | | |
| 146,422 | |
| Total revenue | |
| 59,952 | | |
| 132,871 | | |
| 191,414 | | |
| 181,155 | |
| | |
| | | |
| | | |
| | | |
| | |
| Operating costs and expenses: | |
| | | |
| | | |
| | | |
| | |
| Cost of goods sold | |
| 6,760 | | |
| 9,220 | | |
| 25,738 | | |
| 22,235 | |
| Research and development | |
| 43,229 | | |
| 34,200 | | |
| 135,652 | | |
| 109,240 | |
| General and administrative | |
| 9,544 | | |
| 9,130 | | |
| 30,031 | | |
| 28,677 | |
| Total operating costs and expenses | |
| 59,533 | | |
| 52,550 | | |
| 191,421 | | |
| 160,152 | |
| | |
| | | |
| | | |
| | | |
| | |
| Income (loss) from operations | |
| 419 | | |
| 80,321 | | |
| (7 | ) | |
| 21,003 | |
| | |
| | | |
| | | |
| | | |
| | |
| Non-operating income (expense): | |
| | | |
| | | |
| | | |
| | |
| Interest expense | |
| (4,202 | ) | |
| (4,391 | ) | |
| (12,491 | ) | |
| (13,412 | ) |
| Non-cash interest expense on liability related to sale of future royalties | |
| (5,226 | ) | |
| (5,203 | ) | |
| (15,428 | ) | |
| (15,725 | ) |
| Interest income and other income (expense), net | |
| 898 | | |
| 126 | | |
| 1,355 | | |
| 535 | |
| Total non-operating expense, net | |
| (8,530 | ) | |
| (9,468 | ) | |
| (26,564 | ) | |
| (28,602 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Income (loss) before provision for income taxes | |
| (8,111 | ) | |
| 70,853 | | |
| (26,571 | ) | |
| (7,599 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Provision for income taxes | |
| 92 | | |
| 248 | | |
| 469 | | |
| 634 | |
| Net income (loss) | |
$ | (8,203 | ) | |
$ | 70,605 | | |
$ | (27,040 | ) | |
$ | (8,233 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Net income (loss) per share: | |
| | | |
| | | |
| | | |
| | |
| Basic | |
$ | (0.06 | ) | |
$ | 0.55 | | |
$ | (0.21 | ) | |
$ | (0.07 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Diluted | |
$ | (0.06 | ) | |
$ | 0.53 | | |
$ | (0.21 | ) | |
$ | (0.07 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Weighted average shares outstanding used in computing net income (loss) per share | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 132,631 | | |
| 127,504 | | |
| 131,882 | | |
| 126,043 | |
| | |
| | | |
| | | |
| | | |
| | |
| Diluted | |
| 132,631 | | |
| 132,177 | | |
| 131,882 | | |
| 126,043 | |
| | |
| | | |
| | | |
| | | |
| | |
NEKTAR
THERAPEUTICS |
| CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS |
| (In
thousands) |
| (Unaudited) |
| | |
Nine Months Ended September 30, |
| | |
2015 | |
2014 |
| Cash flows from operating activities: | |
| | | |
| | |
| Net loss | |
$ | (27,040 | ) | |
$ | (8,233 | ) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |
| | | |
| | |
| Non-cash royalty revenue related to sale of future royalties | |
| (14,752 | ) | |
| (16,753 | ) |
| Non-cash interest expense on liability related to sale of future royalties | |
| 15,428 | | |
| 15,725 | |
| Stock-based compensation | |
| 14,499 | | |
| 12,647 | |
| Depreciation and amortization | |
| 9,109 | | |
| 9,733 | |
| Other non-cash transactions | |
| (1,448 | ) | |
| 313 | |
| Changes in operating assets and liabilities: | |
| | | |
| | |
| Accounts receivable, net | |
| 641 | | |
| (43,845 | ) |
| Inventory | |
| 2,600 | | |
| 1,757 | |
| Other assets | |
| 3,843 | | |
| 679 | |
| Accounts payable | |
| (525 | ) | |
| (3,670 | ) |
| Accrued compensation | |
| 7,056 | | |
| (501 | ) |
| Accrued clinical trial expenses | |
| 3,394 | | |
| (7,262 | ) |
| Other accrued expenses | |
| 949 | | |
| 1,667 | |
| Interest payable | |
| (3,750 | ) | |
| (3,750 | ) |
| Deferred revenue | |
| (11,832 | ) | |
| 1,480 | |
| Liability related to receipt of refundable milestone payment | |
| — | | |
| (70,000 | ) |
| Other liabilities | |
| 3,854 | | |
| (7,366 | ) |
| Net cash provided by (used in) operating activities | |
| 2,026 | | |
| (117,379 | ) |
| | |
| | | |
| | |
| Cash flows from investing activities: | |
| | | |
| | |
| Maturities of investments | |
| 155,683 | | |
| 171,826 | |
| Purchases of investments | |
| (202,870 | ) | |
| (200,160 | ) |
| Sales of investments | |
| 23,778 | | |
| 21,661 | |
| Release of restricted cash | |
| 25,000 | | |
| — | |
| Purchases of property, plant and equipment | |
| (8,722 | ) | |
| (6,090 | ) |
| Net cash used in investing activities | |
| (7,131 | ) | |
| (12,763 | ) |
| | |
| | | |
| | |
| Cash flows from financing activities: | |
| | | |
| | |
| Payment of capital lease obligations | |
| (3,798 | ) | |
| (2,578 | ) |
| Repayment of proceeds from sale of future royalties | |
| — | | |
| (7,000 | ) |
| Issuance of common stock, net of issuance costs | |
| — | | |
| 116,536 | |
| Proceeds from shares issued under equity compensation plans | |
| 15,516 | | |
| 16,168 | |
| Net cash provided by financing activities | |
| 11,718 | | |
| 123,126 | |
| | |
| | | |
| | |
| Effect of exchange rates on cash and cash equivalents | |
| (159 | ) | |
| (43 | ) |
| Net increase (decrease) in cash and cash equivalents | |
| 6,454 | | |
| (7,059 | ) |
| Cash and cash equivalents at beginning of period | |
| 12,365 | | |
| 39,067 | |
| Cash and cash equivalents at end of period | |
$ | 18,819 | | |
$ | 32,008 | |
| | |
| | | |
| | |
| Supplemental disclosure of cash flow information: | |
| | | |
| | |
| Cash paid for interest | |
$ | 16,095 | | |
$ | 16,487 | |
| | |
| | | |
| | |
| Supplemental schedule of non-cash investing and financing activities: | |
| | | |
| | |
| Accrued debt issuance costs | |
$ | 8,503 | | |
$ | — | |
| | |
| | | |
| | |
Nektar Therapeutics (NASDAQ:NKTR)
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From Mar 2024 to Apr 2024
Nektar Therapeutics (NASDAQ:NKTR)
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From Apr 2023 to Apr 2024
