Nektar Therapeutics
NKTRHealthcareNASDAQBiotechnology · Last scanned Jul 18, 2026
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Daily timeframeNektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. With a market capitalization of $2.31B, it sits in mid-cap territory. It develops rezpegaldesleukin, which is in Phase 2b to treat underlying immune system imbalance in people with autoimmune disorders and inflammatory diseases; NKTR-0165 to treat ulcerative colitis, vitiligo, and multiple sclerosis; NKTR-0166 to treat autoimmune disease; NKTR-422 to treat fibrotic diseases; and NKTR-255 to treat solid tumors and large b-cell lymphoma.
Market Cap
$2.31B
Beta
1.14
P/E (TTM)
—
P/E (Fwd)
-5.43
EPS (TTM)
$-8.05
EPS (Fwd)
$-12.56
ROE
-53.6%
ROA
-15.3%
Cash
$568.6M
Total Debt
$143.4M
Free CF
-$107.2M
52W Change
173.7%
Annual Financials
Cash vs Debt
The balance sheet looks solid with $568.6M in cash comfortably exceeding the $143.4M debt load. A net cash position generally provides financial flexibility during uncertain economic periods. Free cash flow is running at -$107.2M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. Return on equity stands at -53.6%, which is negative for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. Revenue has pulled back from $92.1M (2022) to $55.2M (2025), a 40% decline worth watching.
The strong cash position relative to debt provides a financial cushion that reduces balance sheet risk. The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. No single metric tells the full story. Reviewing NKTR's risk profile alongside its fundamentals and technical indicators provides a more complete picture.