2020 Q1 Form 10-Q Financial Statement
#000090670920000009 Filed on May 08, 2020
Income Statement
Concept | 2020 Q1 | 2019 Q1 |
---|---|---|
Revenue | $50.57M | $28.22M |
YoY Change | 79.2% | -25.77% |
Cost Of Revenue | $3.811M | $5.440M |
YoY Change | -29.94% | -18.15% |
Gross Profit | $46.76M | $22.78M |
YoY Change | 105.26% | -27.38% |
Gross Profit Margin | 92.46% | 80.72% |
Selling, General & Admin | $26.20M | $25.00M |
YoY Change | 4.8% | 33.69% |
% of Gross Profit | 56.03% | 109.74% |
Research & Development | $109.0M | $118.5M |
YoY Change | -8.0% | 19.15% |
% of Gross Profit | 233.07% | 519.99% |
Depreciation & Amortization | $4.500M | $3.100M |
YoY Change | 45.16% | 24.0% |
% of Gross Profit | 9.62% | 13.61% |
Operating Expenses | $109.0M | $118.5M |
YoY Change | -8.0% | 19.15% |
Operating Profit | -$133.6M | -$120.7M |
YoY Change | 10.73% | 39.14% |
Interest Expense | $6.204M | $5.226M |
YoY Change | 18.71% | -2.13% |
% of Operating Profit | ||
Other Income/Expense, Net | -$4.820M | $1.192M |
YoY Change | -504.36% | -113.56% |
Pretax Income | -$138.5M | -$119.5M |
YoY Change | 15.86% | 25.09% |
Income Tax | $200.0K | $137.0K |
% Of Pretax Income | ||
Net Earnings | -$138.7M | -$119.6M |
YoY Change | 15.9% | 24.89% |
Net Earnings / Revenue | -274.16% | -423.9% |
Basic Earnings Per Share | -$0.78 | -$0.69 |
Diluted Earnings Per Share | -$0.78 | -$0.69 |
COMMON SHARES | ||
Basic Shares Outstanding | 177.6M shares | 174.1M |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2020 Q1 | 2019 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $1.346B | $1.389B |
YoY Change | -3.08% | 368.05% |
Cash & Equivalents | $227.0M | $106.8M |
Short-Term Investments | $1.119B | $1.282B |
Other Short-Term Assets | $13.81M | $46.80M |
YoY Change | -70.49% | 257.25% |
Inventory | $14.32M | $11.80M |
Prepaid Expenses | ||
Receivables | $42.03M | $42.90M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $1.429B | $1.490B |
YoY Change | -4.08% | 343.48% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $62.31M | $141.6M |
YoY Change | -56.0% | 205.83% |
Goodwill | $76.50M | |
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $185.9M | $455.9M |
YoY Change | -59.22% | 1125.54% |
Other Assets | $2.400M | |
YoY Change | 200.0% | |
Total Long-Term Assets | $458.6M | $676.4M |
YoY Change | -32.2% | 320.65% |
TOTAL ASSETS | ||
Total Short-Term Assets | $1.429B | $1.490B |
Total Long-Term Assets | $458.6M | $676.4M |
Total Assets | $1.888B | $2.167B |
YoY Change | -12.86% | 336.09% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $21.79M | $11.00M |
YoY Change | 98.08% | -3.51% |
Accrued Expenses | $97.10M | $77.60M |
YoY Change | 25.13% | 56.14% |
Deferred Revenue | $3.007M | $11.09M |
YoY Change | -72.89% | |
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $254.1M | |
YoY Change | ||
Total Short-Term Liabilities | $377.5M | $99.70M |
YoY Change | 278.61% | 23.54% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $247.4M |
YoY Change | -100.0% | 0.73% |
Other Long-Term Liabilities | $214.0M | $185.9M |
YoY Change | 15.12% | 65.69% |
Total Long-Term Liabilities | $214.0M | $433.3M |
YoY Change | -50.61% | 21.1% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $377.5M | $99.70M |
Total Long-Term Liabilities | $214.0M | $433.3M |
Total Liabilities | $591.5M | $533.0M |
YoY Change | 10.98% | 21.55% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$2.003B | |
YoY Change | ||
Common Stock | $3.307B | |
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $1.296B | $1.634B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $1.888B | $2.167B |
YoY Change | -12.86% | 336.09% |
Cashflow Statement
Concept | 2020 Q1 | 2019 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$138.7M | -$119.6M |
YoY Change | 15.9% | 24.89% |
Depreciation, Depletion And Amortization | $4.500M | $3.100M |
YoY Change | 45.16% | 24.0% |
Cash From Operating Activities | -$78.08M | -$80.90M |
YoY Change | -3.49% | 54.19% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $900.0K | $5.648M |
YoY Change | -84.07% | 473.4% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $198.7M | -$6.500M |
YoY Change | -3156.92% | -113.21% |
Cash From Investing Activities | $197.8M | -$12.14M |
YoY Change | -1729.32% | -125.18% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | $11.08M | $4.894M |
YoY Change | 126.34% | -85.75% |
NET CHANGE | ||
Cash From Operating Activities | -$78.08M | -$80.90M |
Cash From Investing Activities | $197.8M | -$12.14M |
Cash From Financing Activities | $11.08M | $4.894M |
Net Change In Cash | $130.7M | -$88.15M |
YoY Change | -248.23% | -393.42% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$78.08M | -$80.90M |
Capital Expenditures | $900.0K | $5.648M |
Free Cash Flow | -$78.98M | -$86.54M |
YoY Change | -8.74% | 61.91% |
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|
-119495000 | USD |
CY2020Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
200000 | USD |
CY2019Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
137000 | USD |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-138651000 | USD |
CY2019Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
5463000 | USD |
CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-119632000 | USD |
CY2020Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.78 | |
CY2019Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.69 | |
CY2020Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
177185000 | shares |
CY2019Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
173859000 | shares |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-138651000 | USD |
CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-119632000 | USD |
CY2020Q1 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
-5121000 | USD |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
4685000 | USD |
CY2020Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-751000 | USD |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
35000 | USD |
CY2020Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-5872000 | USD |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
4720000 | USD |
CY2020Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-144523000 | USD |
CY2019Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-114912000 | USD |
CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1717575000 | USD |
CY2019Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
25385000 | USD |
CY2019Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-114912000 | USD |
CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1633511000 | USD |
CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1405391000 | USD |
CY2020Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
11347000 | USD |
CY2020Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
24211000 | USD |
CY2020Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-144523000 | USD |
CY2020Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1296426000 | USD |
CY2020Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-138651000 | USD |
CY2019Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-119632000 | USD |
CY2020Q1 | nktr |
Non Cash Royalty Revenue Related To Sale Of Future Royalties
NonCashRoyaltyRevenueRelatedToSaleOfFutureRoyalties
|
9895000 | USD |
CY2019Q1 | nktr |
Non Cash Royalty Revenue Related To Sale Of Future Royalties
NonCashRoyaltyRevenueRelatedToSaleOfFutureRoyalties
|
8230000 | USD |
CY2020Q1 | nktr |
Non Cash Interest Expense Related To Sale Of Royalties
NonCashInterestExpenseRelatedToSaleOfRoyalties
|
6968000 | USD |
CY2019Q1 | nktr |
Non Cash Interest Expense Related To Sale Of Royalties
NonCashInterestExpenseRelatedToSaleOfRoyalties
|
6065000 | USD |
CY2020Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
25236000 | USD |
CY2019Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
25385000 | USD |
CY2020Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
4502000 | USD |
CY2019Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
3077000 | USD |
CY2020Q1 | nktr |
Impairment Of Equipment From Terminated Program
ImpairmentOfEquipmentFromTerminatedProgram
|
20351000 | USD |
CY2019Q1 | nktr |
Impairment Of Equipment From Terminated Program
ImpairmentOfEquipmentFromTerminatedProgram
|
0 | USD |
CY2020Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
1289000 | USD |
CY2019Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
3183000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
5229000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-319000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1655000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
397000 | USD |
CY2020Q1 | nktr |
Increase Decrease In Operating Lease Right Of Use Assets Net Of Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseRightOfUseAssetsNetOfOperatingLeaseLiabilities
|
-2940000 | USD |
CY2019Q1 | nktr |
Increase Decrease In Operating Lease Right Of Use Assets Net Of Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseRightOfUseAssetsNetOfOperatingLeaseLiabilities
|
-1168000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-1067000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-4209000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2687000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
5156000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
9920000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
8434000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
7716000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
774000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-2510000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-4204000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-233000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
164000 | USD |
CY2020Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-78075000 | USD |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-80895000 | USD |
CY2020Q1 | us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
241068000 | USD |
CY2019Q1 | us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
368739000 | USD |
CY2020Q1 | us-gaap |
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
439735000 | USD |
CY2019Q1 | us-gaap |
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
362249000 | USD |
CY2020Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
900000 | USD |
CY2019Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
5648000 | USD |
CY2020Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
197767000 | USD |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-12138000 | USD |
CY2020Q1 | us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
|
11077000 | USD |
CY2019Q1 | us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
|
4894000 | USD |
CY2020Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
11077000 | USD |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
4894000 | USD |
CY2020Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-97000 | USD |
CY2019Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-14000 | USD |
CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
130672000 | USD |
CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-88153000 | USD |
CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
96363000 | USD |
CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
194905000 | USD |
CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
227035000 | USD |
CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
106752000 | USD |
CY2020Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
4951000 | USD |
CY2019Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
4805000 | USD |
CY2020Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
2133000 | USD |
CY2019Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
1289000 | USD |
CY2020Q1 | nktr |
Cash Restricted Cash Cash Equivalents And Available For Sale Investments
CashRestrictedCashCashEquivalentsAndAvailableForSaleInvestments
|
1500000000 | USD |
CY2020Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-top:18pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">Use of Estimates</span></div><div style="text-indent:31.5pt;margin-top:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Accounting estimates and assumptions are inherently uncertain. </span></div><div style="text-indent:31.5pt;margin-top:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The full extent to which the COVID-19 pandemic will directly or indirectly impact our business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning the COVID-19 pandemic and the actions taken to contain it or treat COVID-19, as well as the economic impact on local, regional, national and international customers and markets. We consider the effects of the COVID-19 pandemic in developing our estimates.</span></div><div style="text-indent:36pt;margin-top:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Actual results could differ materially from those estimates and assumptions. As appropriate, we assess our estimates each period, update them to reflect current information and generally recognize any changes in such estimates in the period first identified.</span></div> | |
CY2020Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div style="margin-top:18pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">Reclassifications</span></div><div style="text-indent:36pt;margin-top:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In December 2019, the FASB issued ASU 2019-12 - Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12). ASU 2019-12 created an exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items (for example, discontinued operations or other comprehensive income). Under the historical guidance, in this situation, an entity would record an income tax provision from other items, such as unrealized gains on available-for-sale securities reported in other comprehensive income, with an offsetting income tax benefit in continuing operations. Under ASU 2019-12, an entity would record no income tax provision. We elected to adopt ASU 2019-12 effective January 1, 2019 on a prospective basis in accordance with the guidance. Because we reported a net loss and unrealized gains on available-for-sale securities during 2019 and accordingly recorded a tax provision pursuant to the legacy guidance, we have recast such results from previously reported amounts. As a result, we eliminated the tax benefit in continuing operations and tax provision in other comprehensive income (loss), which totaled $1.1 million for the three months ended March 31, 2019. </span></div><div style="text-indent:36pt;margin-top:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Additionally, certain items previously reported in specific financial statement captions have been reclassified to conform to the current period presentation. Such reclassifications do not materially impact previously reported revenue, operating loss, net loss, total assets, liabilities or stockholders’ equity.</span></div> | |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
|
1100000 | USD |
CY2020Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | Segment |
CY2020Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | Segment |
CY2020Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="margin-top:18pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">Significant Concentrations</span></div><div style="text-indent:31.5pt;margin-top:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Our customers are primarily pharmaceutical and biotechnology companies that are located in the U.S. and Europe and with whom we have multi-year arrangements. Our accounts receivable balance contains billed and unbilled trade receivables from product sales, milestones, other contingent payments and royalties, as well as reimbursable costs from collaborative research and development agreements. As of March 31, 2020, our accounts receivable includes $10.9 million under customer contracts from our collaboration partners and $31.2 million for unbilled net expense reimbursements from our collaboration partner Bristol-Myers Squibb Company (BMS). As of December 31, 2019, our accounts receivable included $12.8 million from customer contracts and $24.0 million for unbilled net expense reimbursements from BMS. We generally do not require collateral from our customers. We perform a regular review of our customers’ credit risk and payment histories, including payments made after period end. Historically, we have not experienced credit losses from our accounts receivable. We have not recorded a reserve for credit losses at March 31, 2020 or December 31, 2019.</span></div><div style="text-indent:31.5pt;margin-top:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">We are dependent on our suppliers and contract manufacturers to provide raw materials and drugs of appropriate quality and reliability and to meet applicable contract and regulatory requirements. In certain cases, we rely on single sources of supply of one or more critical materials. Consequently, in the event that supplies are delayed or interrupted for any reason, our ability to develop and produce our drug candidates or our ability to meet our supply obligations could be significantly impaired, which could have a material adverse effect on our business, financial condition and results of operations.</span></div><div style="text-indent:36pt;margin-top:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">For our available-for-sale securities, we have significant concentrations of issuers in the banking and financial services, automotive and food and beverage industries. While our investment policy requires that we only invest in highly-rated securities and limit our exposure to any single issuer, the COVID-19 pandemic may materially affect the financial conditions of issuers. Additionally, pursuant to our investment policy, we may sell securities before maturity if the issuer’s credit rating has been </span></div>downgraded below our minimum credit rating requirements, which may result in a loss on the sale. As a result of the COVID-19 pandemic, we have begun to see an increase in credit downgrades for certain of our securities. Accordingly, if the COVID-19 pandemic or other factors result in downgrades below our minimum credit rating requirements and if we decide to sell these securities, we may experience losses on such sales. | |
CY2019Q4 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
6500000 | USD |
CY2020Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
227035000 | USD |
CY2019Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
96363000 | USD |
CY2020Q1 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
1118847000 | USD |
CY2019Q4 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
1228499000 | USD |
CY2020Q1 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
185900000 | USD |
CY2019Q4 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
279119000 | USD |
CY2020Q1 | nktr |
Cash Restricted Cash Cash Equivalents And Available For Sale Investments
CashRestrictedCashCashEquivalentsAndAvailableForSaleInvestments
|
1531782000 | USD |
CY2019Q4 | nktr |
Cash Restricted Cash Cash Equivalents And Available For Sale Investments
CashRestrictedCashCashEquivalentsAndAvailableForSaleInvestments
|
1603981000 | USD |
CY2020Q1 | nktr |
Debt Investment Maximum Maturity Period
DebtInvestmentMaximumMaturityPeriod
|
P2Y | |
CY2020Q1 | nktr |
Debt Investment Maturity Term
DebtInvestmentMaturityTerm
|
P1Y | |
CY2019Q1 | us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
0 | USD |
CY2020Q1 | us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
0 | USD |
CY2020Q1 | us-gaap |
Senior Notes
SeniorNotes
|
254800000 | USD |
CY2020Q1 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
6200000 | USD |
CY2020Q1 | us-gaap |
Cash
Cash
|
5994000 | USD |
CY2019Q4 | us-gaap |
Cash
Cash
|
5829000 | USD |
CY2020Q1 | nktr |
Cash Restricted Cash Cash Equivalents And Available For Sale Investments
CashRestrictedCashCashEquivalentsAndAvailableForSaleInvestments
|
1531782000 | USD |
CY2019Q4 | nktr |
Cash Restricted Cash Cash Equivalents And Available For Sale Investments
CashRestrictedCashCashEquivalentsAndAvailableForSaleInvestments
|
1603981000 | USD |
CY2019Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
2100000 | USD |
CY2019Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
300000 | USD |
CY2020Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
1198000 | USD |
CY2019Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
1673000 | USD |
CY2020Q1 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
11463000 | USD |
CY2019Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
8267000 | USD |
CY2020Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
1659000 | USD |
CY2019Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
2725000 | USD |
CY2020Q1 | us-gaap |
Inventory Net
InventoryNet
|
14320000 | USD |
CY2019Q4 | us-gaap |
Inventory Net
InventoryNet
|
12665000 | USD |
CY2020Q1 | nktr |
Non Cash Royalty Revenue Related To Sale Of Future Royalties
NonCashRoyaltyRevenueRelatedToSaleOfFutureRoyalties
|
9900000 | USD |
CY2019Q1 | nktr |
Non Cash Royalty Revenue Related To Sale Of Future Royalties
NonCashRoyaltyRevenueRelatedToSaleOfFutureRoyalties
|
8200000 | USD |
CY2020Q1 | nktr |
Non Cash Interest Expense Related To Sale Of Royalties
NonCashInterestExpenseRelatedToSaleOfRoyalties
|
7000000.0 | USD |
CY2019Q1 | nktr |
Non Cash Interest Expense Related To Sale Of Royalties
NonCashInterestExpenseRelatedToSaleOfRoyalties
|
6100000 | USD |
nktr |
Estimated Annual Interest Rate Over Life Of Royalty Liability
EstimatedAnnualInterestRateOverLifeOfRoyaltyLiability
|
0.17 | ||
CY2017Q4 | nktr |
Estimated Annual Interest Rate Over Life Of Royalty Liability
EstimatedAnnualInterestRateOverLifeOfRoyaltyLiability
|
0.176 | |
CY2017Q4 | nktr |
Prospective Interest Rate Percentage
ProspectiveInterestRatePercentage
|
0.21 | |
CY2018Q4 | nktr |
Estimated Annual Interest Rate Over Life Of Royalty Liability
EstimatedAnnualInterestRateOverLifeOfRoyaltyLiability
|
0.187 | |
CY2018Q4 | nktr |
Prospective Interest Rate Percentage
ProspectiveInterestRatePercentage
|
0.29 | |
CY2019Q4 | nktr |
Estimated Annual Interest Rate Over Life Of Royalty Liability
EstimatedAnnualInterestRateOverLifeOfRoyaltyLiability
|
0.195 | |
CY2019Q4 | nktr |
Prospective Interest Rate Percentage
ProspectiveInterestRatePercentage
|
0.38 | |
CY2020Q1 | nktr |
License Collaboration Other Revenue
LicenseCollaborationOtherRevenue
|
27515000 | USD |
CY2019Q1 | nktr |
License Collaboration Other Revenue
LicenseCollaborationOtherRevenue
|
4204000 | USD |
CY2020Q1 | us-gaap |
Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
|
44600000 | USD |
CY2019Q1 | us-gaap |
Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
|
19600000 | USD |
CY2019Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
8071000 | USD |
CY2020Q1 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
2510000 | USD |
CY2020Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
5561000 | USD |
CY2020Q1 | nktr |
Potential Development And Regulatory Milestones
PotentialDevelopmentAndRegulatoryMilestones
|
1700000000 | USD |
CY2020Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
25236000 | USD |
CY2019Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
25385000 | USD |
CY2020Q1 | us-gaap |
Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
|
49000 | shares |
CY2019Q1 | us-gaap |
Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
|
20000 | shares |