Nektar: 2Q Earnings Snapshot
SAN FRANCISCO (AP) _ Nektar Therapeutics (NKTR) on Thursday reported a second-quarter loss of $109.9 million, after reporting a profit in the same period a year earlier.
The San Francisco-based company said it had a loss of 63 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 80 cents per share.
The biopharmaceutical company posted revenue of $23.3 million in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $26 million.
Nektar shares have dropped 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.57, a fall of 47% in the last 12 months.