$NKTR
NEKTAR THERAPEUTICS

2014 Q2 Form 10-Q Financial Statement

#000119312514188058 Filed on May 08, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $28.51M $19.77M $23.00M
YoY Change -15.8% -14.05% 28.16%
Cost Of Revenue $5.108M $7.907M $11.66M
YoY Change 1.94% -32.19% 33.93%
Gross Profit $23.41M $11.86M $11.34M
YoY Change -18.88% 4.59% 22.73%
Gross Profit Margin 82.09% 60.01% 49.31%
Selling, General & Admin $9.600M $9.900M $10.80M
YoY Change 4.35% -8.33% 3.85%
% of Gross Profit 41.02% 83.45% 95.21%
Research & Development $36.70M $38.34M $45.62M
YoY Change -29.73% -15.96% 30.02%
% of Gross Profit 156.81% 323.15% 402.17%
Depreciation & Amortization $3.200M $3.300M $3.600M
YoY Change -13.51% -8.33% 2.86%
% of Gross Profit 13.67% 27.82% 31.74%
Operating Expenses $36.70M $38.34M $45.62M
YoY Change -29.73% -15.96% 30.02%
Operating Profit -$22.92M -$36.40M -$45.11M
YoY Change -29.72% -19.3% 18.91%
Interest Expense $4.488M $4.533M $4.645M
YoY Change -3.61% -2.41% 82.3%
% of Operating Profit
Other Income/Expense, Net -$9.526M -$9.608M -$9.747M
YoY Change -4.15% -1.43% 220.52%
Pretax Income -$32.44M -$46.01M -$54.85M
YoY Change -23.74% -16.12% 33.87%
Income Tax $195.0K $191.0K $212.0K
% Of Pretax Income
Net Earnings -$32.64M -$46.20M -$55.06M
YoY Change -23.65% -16.09% 33.98%
Net Earnings / Revenue -114.46% -233.68% -239.36%
Basic Earnings Per Share -$0.26 -$0.37 -$0.48
Diluted Earnings Per Share -$0.26 -$0.37 -$0.48
COMMON SHARES
Basic Shares Outstanding 127.0M shares 123.5M shares 115.3M shares
Diluted Shares Outstanding 123.5M shares

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $276.4M $284.1M $236.2M
YoY Change 36.9% 20.28% -38.18%
Cash & Equivalents $30.70M $32.44M $28.53M
Short-Term Investments $245.7M $251.6M $207.7M
Other Short-Term Assets $4.629M $5.972M $8.813M
YoY Change -23.08% -32.24% -35.2%
Inventory $14.11M $12.87M $18.38M
Prepaid Expenses
Receivables $3.047M $1.855M $3.647M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $298.2M $304.8M $267.0M
YoY Change 27.22% 14.13% -36.53%
LONG-TERM ASSETS
Property, Plant & Equipment $71.07M $72.97M $70.11M
YoY Change 4.75% 4.07% -7.26%
Goodwill $76.50M $76.50M $76.50M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.343M $7.774M $9.252M
YoY Change -18.74% -15.97% 74.57%
Total Long-Term Assets $179.9M $182.2M $180.9M
YoY Change 0.86% 0.76% -34.01%
TOTAL ASSETS
Total Short-Term Assets $298.2M $304.8M $267.0M
Total Long-Term Assets $179.9M $182.2M $180.9M
Total Assets $478.1M $487.0M $447.9M
YoY Change 15.83% 8.73% -35.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.437M $3.064M $4.218M
YoY Change 33.47% -27.36% 134.33%
Accrued Expenses $5.814M $6.821M $6.946M
YoY Change -48.8% -1.8% -75.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $84.36M $79.31M $83.22M
YoY Change -6.56% -4.7% -69.27%
LONG-TERM LIABILITIES
Long-Term Debt $201.0M $202.1M $135.8M
YoY Change 49.0% 48.82% -2.79%
Other Long-Term Liabilities $17.77M $17.78M $9.015M
YoY Change 106.05% 97.18% -92.6%
Total Long-Term Liabilities $17.77M $17.78M $9.015M
YoY Change 106.05% 97.18% -96.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $84.36M $79.31M $83.22M
Total Long-Term Liabilities $17.77M $17.78M $9.015M
Total Liabilities $513.5M $496.8M $450.5M
YoY Change 13.27% 10.28% -15.36%
SHAREHOLDERS EQUITY
Retained Earnings -$1.811B -$1.779B -$1.625B
YoY Change 8.57% 9.42%
Common Stock $1.777B $1.770B $1.623B
YoY Change 9.07% 9.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$35.36M -$9.809M -$2.620M
YoY Change
Total Liabilities & Shareholders Equity $478.1M $487.0M $447.9M
YoY Change 15.83% 8.73% -35.54%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$32.64M -$46.20M -$55.06M
YoY Change -23.65% -16.09% 33.98%
Depreciation, Depletion And Amortization $3.200M $3.300M $3.600M
YoY Change -13.51% -8.33% 2.86%
Cash From Operating Activities -$9.100M -$62.30M -$38.11M
YoY Change -73.47% 63.47% 10.09%
INVESTING ACTIVITIES
Capital Expenditures -$700.0K $4.524M $316.0K
YoY Change 40.0% 1331.65% -79.16%
Acquisitions
YoY Change
Other Investing Activities $6.000M -$53.70M $44.00M
YoY Change -87.26% -222.05% -11.82%
Cash From Investing Activities $5.300M -$58.20M $43.69M
YoY Change -88.63% -233.22% -9.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $117.2M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.000M 113.9M -2.474M
YoY Change 185.71% -4703.88% -102.07%
NET CHANGE
Cash From Operating Activities -9.100M -62.30M -38.11M
Cash From Investing Activities 5.300M -58.20M 43.69M
Cash From Financing Activities 2.000M 113.9M -2.474M
Net Change In Cash -1.800M -6.600M 3.101M
YoY Change -113.85% -312.83% -97.67%
FREE CASH FLOW
Cash From Operating Activities -$9.100M -$62.30M -$38.11M
Capital Expenditures -$700.0K $4.524M $316.0K
Free Cash Flow -$8.400M -$66.82M -$38.43M
YoY Change -75.15% 73.9% 6.35%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
126977001 shares
CY2013Q1 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2013Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28531000
CY2014Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
126936000 shares
CY2014Q1 us-gaap Other Assets Current
OtherAssetsCurrent
5972000
CY2014Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2654000
CY2014Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
72968000
CY2014Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.12 pure
CY2014Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
126936000 shares
CY2014Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2014Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2014Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2014Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2014Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2014Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6821000
CY2014Q1 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2014Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
3064000
CY2014Q1 us-gaap Liabilities Current
LiabilitiesCurrent
79313000
CY2014Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-940000
CY2014Q1 us-gaap Senior Long Term Notes
SeniorLongTermNotes
125000000
CY2014Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9427000
CY2014Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
17776000
CY2014Q1 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
7050000
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
-9809000
CY2014Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1769713000
CY2014Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1778594000
CY2014Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
23542000
CY2014Q1 us-gaap Common Stock Value
CommonStockValue
12000
CY2014Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
487013000
CY2014Q1 us-gaap Liabilities
Liabilities
496822000
CY2014Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
19566000
CY2014Q1 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
76549000
CY2014Q1 us-gaap Interest Payable Current
InterestPayableCurrent
3167000
CY2014Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2014Q1 us-gaap Restricted Cash And Investments Noncurrent
RestrictedCashAndInvestmentsNoncurrent
25000000
CY2014Q1 us-gaap Assets Current
AssetsCurrent
304770000
CY2014Q1 us-gaap Goodwill
Goodwill
76501000
CY2014Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
7774000
CY2014Q1 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
251628000
CY2014Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
7165000
CY2014Q1 us-gaap Assets
Assets
487013000
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32443000
CY2014Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
3053000
CY2014Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1855000
CY2014Q1 us-gaap Inventory Net
InventoryNet
12872000
CY2014Q1 us-gaap Available For Sale Securities
AvailableForSaleSecurities
251628000
CY2014Q1 nktr Debt Instrument Maturity Month And Year
DebtInstrumentMaturityMonthAndYear
2017-07
CY2014Q1 nktr Liability Related To Sale Of Potential Future Royalties Non Current
LiabilityRelatedToSaleOfPotentialFutureRoyaltiesNonCurrent
121134000
CY2014Q1 nktr Preferred Stock Share Designated
PreferredStockShareDesignated
0 shares
CY2014Q1 nktr Cash And Restricted Cash
CashAndRestrictedCash
32105000
CY2014Q1 nktr Cash Restricted Cash Cash Equivalents And Available For Sale Investments
CashRestrictedCashCashEquivalentsAndAvailableForSaleInvestments
309071000
CY2014Q1 nktr Accrued Clinical Trial Expenses
AccruedClinicalTrialExpenses
13726000
CY2014Q1 nktr Refundable Milestone Payment Liabilities
RefundableMilestonePaymentLiabilities
70000000
CY2014Q1 nktr Debt Capital Lease And Other Long Term Liabilities
DebtCapitalLeaseAndOtherLongTermLiabilities
164200000
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25437000
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
116494000 shares
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
116494000 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2013Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6243000
CY2013Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
9115000
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
98221000
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1181000
CY2013Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
125000000
CY2013Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
14254000
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
19256000
CY2013Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
8049000
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
-89903000
CY2013Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1643660000
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1732393000
CY2013Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
23664000
CY2013Q4 us-gaap Common Stock Value
CommonStockValue
11000
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
434527000
CY2013Q4 us-gaap Liabilities
Liabilities
524430000
CY2013Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
14123000
CY2013Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
82384000
CY2013Q4 us-gaap Interest Payable Current
InterestPayableCurrent
6917000
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2013Q4 us-gaap Restricted Cash And Investments Noncurrent
RestrictedCashAndInvestmentsNoncurrent
25000000
CY2013Q4 us-gaap Assets Current
AssetsCurrent
257882000
CY2013Q4 us-gaap Goodwill
Goodwill
76501000
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
8170000
CY2013Q4 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
197959000
CY2013Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
6146000
CY2013Q4 us-gaap Assets
Assets
434527000
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
39067000
CY2013Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3947000
CY2013Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2229000
CY2013Q4 us-gaap Inventory Net
InventoryNet
13452000
CY2013Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
197959000
CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
5175000
CY2013Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3359000
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
66974000
CY2013Q4 nktr Liability Related To Sale Of Potential Future Royalties Non Current
LiabilityRelatedToSaleOfPotentialFutureRoyaltiesNonCurrent
121520000
CY2013Q4 nktr Preferred Stock Share Designated
PreferredStockShareDesignated
0 shares
CY2013Q4 nktr Cash And Restricted Cash
CashAndRestrictedCash
37614000
CY2013Q4 nktr Cash Restricted Cash Cash Equivalents And Available For Sale Investments
CashRestrictedCashCashEquivalentsAndAvailableForSaleInvestments
262026000
CY2013Q4 nktr Accrued Clinical Trial Expenses
AccruedClinicalTrialExpenses
16905000
CY2013Q4 nktr Liability Related To Sale Of Potential Future Royalties Current
LiabilityRelatedToSaleOfPotentialFutureRoyaltiesCurrent
7000000
CY2013Q4 nktr Refundable Milestone Payment Liabilities
RefundableMilestonePaymentLiabilities
70000000
CY2013Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.34 pure
CY2013Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
115309000 shares
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-38111000
CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.48
CY2013Q1 us-gaap Revenues
Revenues
23004000
CY2013Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-55101000
CY2013Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
56336000
CY2013Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
127000
CY2013Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
314000
CY2013Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-3844000
CY2013Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-139000
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-45104000
CY2013Q1 us-gaap Available For Sale Securities Gross Realized Gains Losses Sale Proceeds
AvailableForSaleSecuritiesGrossRealizedGainsLossesSaleProceeds
0
CY2013Q1 us-gaap Interest Paid
InterestPaid
8250000
CY2013Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-54851000
CY2013Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2158000
CY2013Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-9747000
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
-55063000
CY2013Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
692000
CY2013Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
112000
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
316000
CY2013Q1 us-gaap Costs And Expenses
CostsAndExpenses
68108000
CY2013Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
179000
CY2013Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10829000
CY2013Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
11661000
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-2474000
CY2013Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
2710000
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4245000
CY2013Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3628000
CY2013Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3094000
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
43686000
CY2013Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1130000
CY2013Q1 us-gaap Interest Expense
InterestExpense
4645000
CY2013Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1355000
CY2013Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
45618000
CY2013Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-3830000
CY2013Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
1218000
CY2013Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
100338000
CY2013Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-3916000
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
212000
CY2013Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-7000
CY2013Q1 nktr Increase Decrease In Accrued Clinical Trial Expenses
IncreaseDecreaseInAccruedClinicalTrialExpenses
6532000
CY2013Q1 nktr License Collaboration Other Revenue
LicenseCollaborationOtherRevenue
6476000
CY2013Q1 nktr Product Sales And Royalties
ProductSalesAndRoyalties
12135000
CY2013Q1 nktr Non Cash Royalty Revenue Related To Sale Of Future Royalties
NonCashRoyaltyRevenueRelatedToSaleOfFutureRoyalties
4393000
CY2013Q1 nktr Noncash Interest Expense
NoncashInterestExpense
5543000
CY2013Q1 nktr Repayment Of And Proceeds From Sale Of Future Royalties Net Of Transaction Costs
RepaymentOfAndProceedsFromSaleOfFutureRoyaltiesNetOfTransactionCosts
-3000000
CY2014Q1 dei Trading Symbol
TradingSymbol
NKTR
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
NEKTAR THERAPEUTICS
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000906709
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2014Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.34 pure
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
123543000 shares
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-62290000
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.37
CY2014Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> <b><i>Reclassifications</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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&#x2019; equity (deficit).</p> </div>
CY2014Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-5957000
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4361000
CY2014Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> &#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The preparation of 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 financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates and assumptions. On an ongoing basis, we evaluate our estimates, including those related to deferred revenue recognition periods, inventory, the impairment of investments, the impairment of goodwill and long-lived assets, contingencies, accrued clinical trial expenses, estimated interest expense from our liability related to our sale of future royalties, stock-based compensation, and ongoing litigation, among other estimates. We base our estimates on historical experience and on other assumptions that management believes are reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities when these values are not readily apparent from other sources.</p> </div>
CY2014Q1 us-gaap Revenues
Revenues
19771000
CY2014Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-45960000
CY2014Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
110661000
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
178000
CY2014Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
134000
CY2014Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
718000
CY2014Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-777000
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-36402000
CY2014Q1 us-gaap Available For Sale Securities Gross Realized Gains Losses Sale Proceeds
AvailableForSaleSecuritiesGrossRealizedGainsLossesSaleProceeds
0
CY2014Q1 us-gaap Interest Paid
InterestPaid
7961000
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-46010000
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-374000
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-9608000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-46201000
CY2014Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
825000
CY2014Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-580000
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4524000
CY2014Q1 us-gaap Costs And Expenses
CostsAndExpenses
56173000
CY2014Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-4827000
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
9928000
CY2014Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
7907000
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
113868000
CY2014Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3264000
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-6624000
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-58213000
CY2014Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
693000
CY2014Q1 us-gaap Interest Expense
InterestExpense
4533000
CY2014Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-6126000
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
38338000
CY2014Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1195000
CY2014Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
5074000
CY2014Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
56972000
CY2014Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-3750000
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
191000
CY2014Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
11000
CY2014Q1 nktr Debt Instrument Maximum Maturity Period
DebtInstrumentMaximumMaturityPeriod
Two years or less
CY2014Q1 nktr Increase Decrease In Accrued Clinical Trial Expenses
IncreaseDecreaseInAccruedClinicalTrialExpenses
-3179000
CY2014Q1 nktr License Collaboration Other Revenue
LicenseCollaborationOtherRevenue
8081000
CY2014Q1 nktr Product Sales And Royalties
ProductSalesAndRoyalties
5917000
CY2014Q1 nktr Non Cash Royalty Revenue Related To Sale Of Future Royalties
NonCashRoyaltyRevenueRelatedToSaleOfFutureRoyalties
5773000
CY2014Q1 nktr Debt Instrument Weighted Average Maturity Period One
DebtInstrumentWeightedAverageMaturityPeriodOne
One year or less
CY2014Q1 nktr Royalty Agreement Contingent Payment Description
RoyaltyAgreementContingentPaymentDescription
As a result of worldwide net sales of MIRCERA® for the 12 month periods ended on December 31, 2013 and 2012 not reaching certain minimum thresholds.
CY2014Q1 nktr Proceeds From Issuance Of Common Stock Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts
116619000
CY2014Q1 nktr Noncash Interest Expense
NoncashInterestExpense
5387000
CY2014Q1 nktr Estimated Annual Interest Rate On Royalty Liability
EstimatedAnnualInterestRateOnRoyaltyLiability
0.17 pure
CY2014Q1 nktr Repayment Of And Proceeds From Sale Of Future Royalties Net Of Transaction Costs
RepaymentOfAndProceedsFromSaleOfFutureRoyaltiesNetOfTransactionCosts
-7000000
CY2014Q1 nktr Potential Development Milestones
PotentialDevelopmentMilestones
144300000

Files In Submission

Name View Source Status
R31.htm Edgar Link pending
0001193125-14-188058-index-headers.html Edgar Link pending
0001193125-14-188058-index.html Edgar Link pending
0001193125-14-188058.txt Edgar Link pending
0001193125-14-188058-xbrl.zip Edgar Link pending
d699580d10q.htm Edgar Link pending
d699580dex311.htm Edgar Link pending
d699580dex312.htm Edgar Link pending
d699580dex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
nktr-20140331.xml Edgar Link completed
nktr-20140331.xsd Edgar Link pending
nktr-20140331_cal.xml Edgar Link unprocessable
nktr-20140331_def.xml Edgar Link unprocessable
nktr-20140331_lab.xml Edgar Link unprocessable
nktr-20140331_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending