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Nektar's Q2 Earnings Lag Estimates, Revenues Top

Nektar Therapeutics (NASDAQ: NKTR) incurred a loss per share of 25 cents in the second quarter of 2024, which was wider than the Zacks Consensus Estimate of a loss of 21 cents. Excluding the impact of non-cash restructuring and impairment charges, the company reported an adjusted loss of 19 cents per share in the second quarter of 2024 compared with an adjusted loss of 18 cents per share in the year-ago quarter. Total revenues were $23.5 million in the second quarter, up 14.6% year over year. Revenues beat the Zacks Consensus Estimate of $17 million. Quarter in Detail In the second quarter, product sales increased around 42.5% year over year to $6.6 million. Product sales beat our model estimate of $4.6 million. Non-cash royalty revenues were $16.8 million, up around 6.1% from the year-ago quarter. Non-cash royalty revenues beat our model estimate of $14.8 million. Research and development (R&D) expenses were $29.7 million, almost flat year over year. General and administrative (G&A) expenses increased ...