Company / R&D Expense
NEKTAR THERAPEUTICS R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$117.3M
FY2025
5-year range
$114.2M / $400.3M
FY2021-FY2025
Trend
+2.8%
vs FY2024
Sector context
#127 of 210
Health Care
What the data says
At $117M, NEKTAR THERAPEUTICS's r&d expense ranks #127 of 210 in the Health Care sector. R&D Expense has fluctuated over the past 10 years, ranging from $114M in FY2024 to $400M in FY2023.
Based on SEC 10-K filings.
$117M in FY2025 with a 5-year CAGR of -21.7%.
Declined from $400M to $117M over the past 2 years.
Health Care sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- -18.7%
- 5-Year CAGR
- -21.7%
- 10-Year CAGR
- -
Sector benchmark
#127 of 210 in Health CareTop 60% of 210This company $117.3M Sector average $644.0M
▼
-81.8% below sector average
Key checks
Key Insights
- 5-year CAGR of -21.7%, indicating a declining trend.
- In FY2025, r&d expense increased 2.8% year-over-year.
- Ranks #127 out of 210 companies in the Health Care sector.
- Peak r&d expense was recorded in FY2023.
Company context
Key Data Points
- Altman Z-Score -11.97 (distress zone, below 1.8 threshold)
- Low earnings quality (accrual-heavy earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $117.3M | +2.8% |
| FY2024 | $114.2M | -71.5% |
| FY2023 | $400.3M | +83.3% |
| FY2022 | $218.3M | -45.5% |
| FY2021 | $400.3M | +0.2% |
| FY2020 | $399.5M | +48.8% |
| FY2019 | $268.5M | +31.7% |
| FY2018 | $203.8M | -24.1% |
| FY2017 | $268.5M | +81.7% |
| FY2016 | $147.7M | -19.2% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026