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Nektar Therapeutics Reports Financial Results for the First Quarter of 2013
Date:5/9/2013

development expenses as well as higher cost of goods related to increased product sales.

Research and development expense in the first quarter of 2013 was $45.6 million as compared to $35.1 million for the first quarter of 2012.  R&D expense was higher in the first quarter of 2013 reflecting the costs of the etirinotecan pegol (NKTR-102) BEACON Phase 3 study, the production of devices for the Phase 3 study of Amikacin Inhale, and Phase 2 studies for NKTR-181. 

General and administrative expense was $11.1 million in the first quarter of 2013 as compared to $10.4 million in the first quarter of 2012.

Non-cash interest expense was $5.5 million in the first quarter of 2013 as compared to $1.8 million in the first quarter of 2012.  The company incurred non-cash interest expense as a result of the sale of future royalties related to Cimzia® and Mircera®. 

Net loss for the first quarter of 2013 was $55.1 million or $0.48 loss per share as compared to $41.1 million or $0.36 loss per share in the first quarter of 2012.

The company also announced upcoming presentations at the following medical meetings and scientific congresses during the first half of 2013:

American Pain Society 32nd Annual Scientific Meeting, New Orleans, LA:

  • Poster: "NKTR-171: A Novel, Oral Sodium Channel Blocker That Exhibits Comparable Analgesic Efficacy to Pregabalin with Reduced Central Nervous System (CNS) Side Effects", Gursahani, H., et al. 
  • Date: May 9, 2013, 9:30 a.m. Eastern Time
  • Digestive Disease Week 2013, Orlando, FL:

  • Abstract 1594557: "Efficacy and Safety of Naloxegol in Patients with Opioid-Induced Constipation: Results from 2 Prospective, Randomized, Controlled Trials", Chey, W., et al. 
  • Date: May 21, 2013, 8:15 a.m. Eastern Time
  • Research Forum: New Pharmacological Treatments for Motility Disorders
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