Nektar Therapeutics (NASDAQ:NKTR) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Nektar Therapeutics Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.37 in the quarter versus EPS of $-0.30 in the year-earlier quarter.
Revenue: Rose 42.99% to $33.86 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Nektar Therapeutics reported adjusted EPS loss of $0.37 per share. By that measure, the company beat the mean analyst estimate of $-0.44. It beat the average revenue estimate of $26.22 million.
Quoting Management: “I am very pleased with Nektar’s performance this year,” said Howard W. Robin, President and Chief Executive Officer of Nektar. “AstraZeneca has confirmed that they will be filing both the naloxegol NDA and MAA in September. Naloxegol could be the first once-daily oral medication to treat patients with opioid-induced constipation. In June, we announced positive data from our Human Abuse Liability study for NKTR-181, our wholly-owned analgesic molecule which has received Fast Track Status from the FDA. The results clearly demonstrated that drug abusers could not discriminate NKTR-181 from placebo at doses that we know produced analgesia in earlier studies. We are on track to report high-level results from the Phase 2 efficacy study of NKTR-181 in chronic pain patients this summer. Finally, we recently completed enrollment in our Phase 3 study of NKTR-102 ahead of schedule. NKTR-102 is the first long-acting topoisomerase I inhibitor being developed for the treatment of advanced breast cancer and we expect survival data from this pivotal trial next year.”
Key Stats (on next page)…