NKTRNEKTAR THERAPEUTICS
Pharmaceutical Preparations
- Revenue
- $55M
- 44% YoY
- Operating margin
- -253.7%
- 137% YoY
- EBITDA
- −$139M
- 38% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- $94M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired23% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear0% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $102M | $92M | $90M | $98M | $55M | 44% |
| Operating income | −$446M | −$376M | −$264M | −$105M | −$140M | 33% |
| Net income | −$524M | −$368M | −$276M | −$119M | −$164M | 38% |
| Operating cash flow | −$413M | −$304M | −$193M | −$176M | −$209M | 19% |
| Capex | $15M | $6M | $865K | $1M | $171K | 88% |
| Stock-based comp | $95M | $57M | $33M | $22M | $13M | 41% |
| Buybacks | — | — | $0 | $3M | $0 | 100% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $31K · 1
- Net
- −$31K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $6M | $14M | 17 | 125 |
| FY2024 | $4M | $5M | 5 | 93 |
| FY2023 | $3M | −$773K | 3 | 94 |
| FY2022 | $11M | −$9M | 13 | 90 |
| FY2021 | $11M | $8M | 79 | 100 |