Nektar Therapeutics (Nektar) is a clinical-stage, research-based biopharmaceutical company focused on the discovery and development of novel therapies in the field of immunotherapy. The company primarily serves the healthcare and pharmaceutical industries by developing treatments for autoimmune disorders, chronic inflammatory conditions, and cancer.

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Nektar's R&D arm focuses on maintaining a diverse pipeline of new drug candidates to enhance the value of its business. The company's discovery research organization leverages its deep understanding of immunology to identify new drug candidates across various molecule classes, including proteins, peptides, and antibodies. The company aim is to advance promising research drug candidates into preclinical development, with the objective of progressing these early-stage programs to human clinical studies over the next several years. Nektar is particularly focused on its preclinical PEG-Colony Stimulating Factor (PEG-CSF1) program, NKTR-422, which targets anti-inflammatory tissue-resident macrophages. The discovery research organization at Nektar is responsible for leveraging immunology insights to identify new drug candidates and advance them into preclinical development. The company's R&D pipeline includes several products targeting autoimmune and inflammatory diseases, as well as oncology. As of December 2025, Nektar owns more than 150 U.S. and 650 foreign patents. The company has 39 employees in its R&D department. In FY2025, the company spent US$117.3 million on R&D, which declined 3% YoY and stood at 47.1% of company’s total revenue.