Nektar Therapeutics is an American biopharmaceutical company. The company was founded in 1990 and is based in San Francisco, California. The company develops new drug candidates by applying its proprietary PEGylation and advanced polymer conjugate technologies to modify chemical structure of substances, which improves drug characteristics like retention and solubility.3 Its shares trade on Nasdaq under the symbol NKTR.1Wikipedia text CC BY-SA 4.0
Nektar Therapeutics is an American biopharmaceutical company. The company was founded in 1990 and is based in San Francisco, California. The company develops new drug candidates by applying its proprietary PEGylation and advanced polymer conjugate technologies to modify chemical structure of substances, which improves drug characteristics like retention and solubility. It is a technology supplier to a number of pharmaceutical companies including Affymax, Amgen, Merck, Pfizer and UCB Pharma, etc. The company developed the world's first inhalable non-injectable insulin, Exubera, which was awarded as the bronze award by Wall Street Journal for its technological breakthrough.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
License Collaboration And Other Revenue$300.0K70%down 50% from 2024
Products and services by year
Products and services
2024
2025
Non Cash Royalty Revenue Related To Sale Of Future Royalties
$64.3M
$54.9M
Non Cash Royalties
$64.3M
$54.9M
License Collaboration And Other Revenue
$597.0K
$300.0K
Where the money goes
Where each dollar of revenue went, fiscal 2025
Research and development
Research and development100¢$117.3M
Income tax0¢$138.0K
Out of $55.2M in revenue.7 The company lost money this year.
Financial statements
Revenue8910117$55.2M in 2025−52% since 2019Operating income8910117-$140.1M in 2025−68% since 2019Net income8910117-$164.1M in 2025−63% since 2019
Revenue1213$10.1M in Q2 FY2026−7% since Q1 FY2026Operating income1213-$42.3M in Q2 FY2026+8% since Q1 FY2026Net income1213-$40.6M in Q2 FY2026−10% since Q1 FY2026
Every line of the income statement as filed: the last 2 fiscal years, latest first.7
Period ending
2025-12-31
2024-12-31
Total revenue
$55.2M
$98.4M
Cost of goods sold
$0
$30.7M
General and administrative
$68.7M
$76.8M
Restructuring and impairment
$9.3M
$15.7M
Gain on sale of the Huntsville manufacturing facility
$0
-$40.4M
Total operating costs and expenses
$195.3M
$203.6M
Loss from operations
-$140.1M
-$105.2M
Non-cash interest expense on liabilities related to the sales of future royalties
-$26.2M
-$28.1M
Interest income
$10.4M
$14.5M
Total non-operating income (expense), net
-$15.4M
-$14.0M
Loss before benefit for income taxes and equity method investment
-$155.5M
-$119.2M
Benefit for income taxes
-$138.0K
-$239.0K
Loss before equity method investment
-$155.3M
-$119.0M
Loss from equity method investment
-$8.7M
$0
Net loss
-$164.1M
-$119.0M
Basic net loss per share (in dollars per share)
-$9.73
-$8.68
Diluted net loss per share (in dollars per share)
-$9.73
-$8.68
Weighted average shares outstanding used in computing basic net loss per share (in shares)
16.9M shares
13.7M shares
Weighted average shares outstanding used in computing diluted net loss per share (in shares)
16.9M shares
13.7M shares
Research and development
$117.3M
$120.9M
Other income (expense), net
$361.0K
-$390.0K
Reverse stock split, ratio
0 pure
No quarter-by-quarter statement was filed.
Total assets148910117$280.4M in 2025−86% since 2019Total liabilities148910117$190.6M in 2025−67% since 2019Shareholders’ equity910117$89.8M in 2025−94% since 2019Cash148910117$15.1M in 2025−84% since 2019
Total assets1213$1.1B in Q2 FY2026+291% since Q1 FY2025Total liabilities1213$192.0M in Q2 FY2026+1% since Q1 FY2025Shareholders’ equity1213$903.1M in Q2 FY2026+905% since Q1 FY2025Cash1213$39.3M in Q2 FY2026+160% since Q1 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.7
Period ending
2025-12-31
2025-05-31
2024-12-31
2023-12-31
Cash and cash equivalents
$15.1M
$44.3M
Short-term investments
$230.6M
$211.0M
Total current assets
$266.3M
$261.3M
Long-term investments
$0
$13.9M
Property, plant and equipment, net
$2.1M
$3.4M
Operating lease right-of-use assets
$2.9M
$8.4M
Equity method investment in Gannet BioChem
$3.5M
$12.2M
Other assets
$5.6M
$4.6M
Total assets
$280.4M
$303.9M
Accrued expenses (including $994 and $3,403 as of December 31, 2025 and 2024, respectively, to a related party)
$22.3M
$30.0M
Operating lease liabilities, current portion
$20.5M
$19.9M
Total current liabilities
$53.5M
$61.4M
Operating lease liabilities, less current portion
$65.3M
$82.7M
Liabilities related to the sales of future royalties, net
$63.2M
$91.8M
Other long-term liabilities
$8.6M
$7.2M
Total liabilities
$190.6M
$243.1M
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares designated or outstanding at December 31, 2025 or 2024, respectively
$0
$0
Common stock, $0.0001 par value; 390,000,000 shares and 300,000,000 shares authorized at December 31, 2025 and 2024, respectively; 20,378,832 shares and 12,937,308 shares issued at December 31, 2025 and 2024, respectively; 20,378,832 shares and 12,385,001 shares outstanding at December 31, 2025 and December 31, 2024, respectively
$2.0K
$1.0K
Capital in excess of par value
$3.9B
$3.7B
Treasury stock, at cost; 0 shares and 552,307 shares as of December 31, 2025 and 2024, respectively
-$3.0M
Accumulated other comprehensive income (loss)
$17.0K
$61.0K
Accumulated deficit
-$3.8B
-$3.6B
Total stockholders equity
$89.8M
$60.7M
$131.0M
Total liabilities and stockholders equity
$280.4M
$303.9M
Other current assets
$20.5M
$6.1M
Preferred stock, par value (in dollars per share)
$0.00
$0.00
Preferred stock, shares authorized (in shares)
10.0M shares
10.0M shares
Preferred stock, shares designated (in shares)
0 shares
0 shares
Preferred stock, shares outstanding (in shares)
0 shares
0 shares
Common stock, par value (in dollars per share)
$0.00
$0.00
Common stock, shares authorized (in shares)
390.0M shares
300.0M shares
300.0M shares
Common stock, shares issued (in shares)
20.4M shares
12.9M shares
Common stock, shares outstanding (in shares)
20.4M shares
12.4M shares
Accounts payable (including $137 and $0 as of December 31, 2025 and 2024, respectively, to a related party)
$10.8M
$11.6M
Treasury stock, shares
0 shares
552.3K shares
Period ending
2025-12-31
2025-05-31
2024-12-31
2023-12-31
Cash and cash equivalents
$15.1M
$44.3M
Short-term investments
$230.6M
$211.0M
Total current assets
$266.3M
$261.3M
Long-term investments
$0
$13.9M
Property, plant and equipment, net
$2.1M
$3.4M
Operating lease right-of-use assets
$2.9M
$8.4M
Equity method investment in Gannet BioChem
$3.5M
$12.2M
Other assets
$5.6M
$4.6M
Total assets
$280.4M
$303.9M
Accrued expenses (including $994 and $3,403 as of December 31, 2025 and 2024, respectively, to a related party)
$22.3M
$30.0M
Operating lease liabilities, current portion
$20.5M
$19.9M
Total current liabilities
$53.5M
$61.4M
Operating lease liabilities, less current portion
$65.3M
$82.7M
Liabilities related to the sales of future royalties, net
$63.2M
$91.8M
Other long-term liabilities
$8.6M
$7.2M
Total liabilities
$190.6M
$243.1M
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares designated or outstanding at December 31, 2025 or 2024, respectively
$0
$0
Common stock, $0.0001 par value; 390,000,000 shares and 300,000,000 shares authorized at December 31, 2025 and 2024, respectively; 20,378,832 shares and 12,937,308 shares issued at December 31, 2025 and 2024, respectively; 20,378,832 shares and 12,385,001 shares outstanding at December 31, 2025 and December 31, 2024, respectively
$2.0K
$1.0K
Capital in excess of par value
$3.9B
$3.7B
Treasury stock, at cost; 0 shares and 552,307 shares as of December 31, 2025 and 2024, respectively
-$3.0M
Accumulated other comprehensive income (loss)
$17.0K
$61.0K
Accumulated deficit
-$3.8B
-$3.6B
Total stockholders equity
$89.8M
$60.7M
$131.0M
Total liabilities and stockholders equity
$280.4M
$303.9M
Other current assets
$20.5M
$6.1M
Preferred stock, par value (in dollars per share)
$0.00
$0.00
Preferred stock, shares authorized (in shares)
10.0M shares
10.0M shares
Preferred stock, shares designated (in shares)
0 shares
0 shares
Preferred stock, shares outstanding (in shares)
0 shares
0 shares
Common stock, par value (in dollars per share)
$0.00
$0.00
Common stock, shares authorized (in shares)
390.0M shares
300.0M shares
300.0M shares
Common stock, shares issued (in shares)
20.4M shares
12.9M shares
Common stock, shares outstanding (in shares)
20.4M shares
12.4M shares
Accounts payable (including $137 and $0 as of December 31, 2025 and 2024, respectively, to a related party)
$10.8M
$11.6M
Treasury stock, shares
0 shares
552.3K shares
Cash from operations8910117-$208.5M in 2025−37% since 2019Capital spending8910117$171.0K in 2025−99% since 2019Free cash flow8910117-$208.7M in 2025−41% since 2019Share buybacks117$0 in 2025
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.7
Period ending
2025-12-31
2024-12-31
Net loss
-$164.1M
-$119.0M
Non-cash royalty revenue related to the sales of future royalties
-$54.9M
-$64.3M
Non-cash interest expense on liabilities related to sales of future royalties
$26.2M
$28.1M
Loss from equity method investment
$8.7M
$0
Stock-based compensation
$12.6M
$21.6M
Depreciation and amortization
$1.0M
$4.4M
Impairment of right-of-use assets and property, plant and equipment
$4.4M
$8.3M
Gain on sale of the Huntsville manufacturing facility
$0
-$40.4M
Provision for net realizable value of inventory
$0
$949.0K
Amortization of premiums (discounts), net
-$5.5M
-$9.2M
Accounts receivable
$0
-$3.0M
Inventory
$0
$497.0K
Operating leases, net
-$15.2M
-$12.9M
Other assets
-$15.4M
-$4.2M
Accounts payable
-$625.0K
$2.7M
Accrued expenses
-$5.8M
$10.7M
Net cash used in operating activities
-$208.5M
-$175.7M
Purchases of investments
-$285.0M
-$261.7M
Maturities of investments
$284.7M
$340.4M
Proceeds (payments) relating to the sale of the Huntsville manufacturing facility, net
-$697.0K
$65.4M
Purchases of property, plant and equipment
-$171.0K
-$1.5M
Net cash provided by (used in) investing activities
-$1.2M
$142.6M
Payments of offering costs associated with issuance of common stock
-$1.1M
$0
Proceeds from issuance of TCG pre-funded warrant
$0
$30.0M
Proceeds from sale of future royalties
$0
$15.0M
Repurchase of common stock from Bristol-Myers Squibb
$0
-$3.0M
Proceeds from shares issued under equity compensation plans and TCG pre-funded warrant
$866.0K
$118.0K
Net cash provided by financing activities
$180.6M
$42.1M
Effect of foreign exchange rates on cash and cash equivalents
$6.0K
-$4.0K
Net increase (decrease) in cash and cash equivalents
-$29.1M
$9.0M
Fair value of equity method investment in Gannet BioChem received in exchange for sale of Huntsville manufacturing facility
$0
$12.2M
Transaction costs and net working capital adjustment for sale of Huntsville manufacturing facility included in accounts payable and accrued expenses
Nektar Therapeutics sits at the top of its group. 2 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Nektar Therapeutics
Two Seas Capital LPFiled SCHEDULE 13G/A on Nektar Therapeutics, latest Sep 28, 2026 (3 filings since Apr 17, 2026)
BIOTECHNOLOGY VALUE FUND L PFiled SCHEDULE 13G/A on Nektar Therapeutics, latest Aug 14, 2026 (3 filings since Jul 9, 2025)
SAMLYN CAPITAL, LLCFiled SCHEDULE 13G/A on Nektar Therapeutics, latest May 15, 2025 (2 filings since Feb 14, 2025)
Deep Track Capital, LPFiled SCHEDULE 13G/A on Nektar Therapeutics, latest Feb 14, 2025 (4 filings since Apr 14, 2023)
Nektar TherapeuticsSan Francisco, California, United States
NEKTAR THERAPEUTICS (INDIA) PRIVATE LIMITED Subsidiary · Hyderabad, India
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Nektar Therapeutics reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
We lease a 155,215 square foot facility in the Mission Bay Area of San Francisco, California (Mission Bay Facility), under an operating lease which expires in January 2030. The Mission Bay Facility is our corporate headquarters. We also lease 135,936 square feet of office space in San Francisco (the Third Street Facility), under an operating lease which expires in January 2030.
The rest of Item 2
In connection with our 2022 and 2023 Restructuring Plans, we have consolidated our San Francisco operations in our Mission Bay Facility, and we have vacated our Third Street Facility and certain laboratory and office spaces at our Mission Bay Facility. We have sublet approximately 29,000 square feet of office and laboratory space in our Mission Bay Facility and are seeking to sublease all of the remaining spaces in both Facilities.
Alabama
We previously owned facilities consisting of approximately 124,000 square feet in Huntsville, Alabama, which housed laboratories as well as administrative, clinical and commercial manufacturing facilities for our PEGylation and advanced polymer conjugate technology operations as well as manufacturing of APIs for early clinical studies. These facilities were sold to Gannet BioChem, an affiliate of Ampersand Management LLC d/b/a Ampersand Capital Partners via the Asset Purchase Agreement on December 2, 2024.
The company is engaged in developing a proprietary pipeline of drug candidates for several therapeutic areas including oncology, pain, anti-infectives, anti-viral and immunology. The company's research and development involve in small molecule and biologic drug candidates. Its drug candidate base consists of naloxegol (Movantik), a Phase III oral opioid antagonist, etirinotecan pegol, a topoisomerase inhibitor under Phase III clinical study as of 2012, NKTR 061, NKTR-181, NKTR-214, etc.
In 2013, the company was assigned a patent which was developed by the company and other four co-inventors. The products of the company is served as a supplement to improve the pharmacokinetics, pharmacodynamics, half-life, bioavailability and other areas of drugs for the patients worldwide. As of March 2014, the company had a market capitalization of $1.7 billion with an enterprise value of $1.67 billion.
As of December 2024, at a stock price-per-share of roughly $1, the market cap is roughly $171 million. Nektar underwent periods of downsizing after unsuccessful partnerships were ended with Eli Lilly in 2023 and Bristol Myers Squibb in 2022, resulting in layoffs of most company employees.
Pipeline
Etirinotecan pegol was in the phase III BEACON trial as well as in the I-SPY2 adaptive clinical trial for breast cancer in 2016. The European Medicines Agency refused a marketing authorisation in 2017.
Bempegaldesleukin (NKTR-214) is a CD122-biased immune-stimulatory cytokine, Phase I results were announced in November 2016. It is now in a phase 2 trial in combination with nivolumab for various advanced cancers.
In 2023 Nektar's partnership with Eli Lilly in development of "rezpeg" was ended. Eli Lilly claimed the drug lacked suitable efficacy, while Nektar responded that Eli Lilly had botched the analysis.
Nov 26, 2025Phase 2 trial completed Phase 2 trial of Rezpegaldesleukin in Alopecia Areata: primary completion Nov 26, 2025, no results posted yet (ClinicalTrials.gov NCT06340360).75
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). Trials from ClinicalTrials.gov, as the sponsor registered them (expected dates are the sponsor's own and often move); approvals and advisory committee meetings from the FDA. The FDA does not publish its decision (PDUFA) dates. The full markets calendar
Filings
398 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 78 major events, 146 insider forms, 57 large holders, 1 private raises, 96 other. The latest 20:
97 open-market trades by officers, directors and large owners since October 2021: 0 buys and 97 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
Where the company's money came from, by calendar year: private offerings filed with the SEC,
federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA.
Each bar links to the records below.
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
Mar 4, 2024Raised $30 million in a private offering of equity56Form D: 1 investor so farForm D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Nektar Therapeutics is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
From the cover page of the 10-K filed Mar 13, 2026 (Section 12(b) of the Exchange Act).15
Risk factors and legal proceedings
The risks Nektar Therapeutics names in Item 1A of its 10-K filed Mar 13, 2026: 47 risks under these headings, as written.15
Risks Related to our Business
We are highly dependent on the success of drug candidates, particularly rezpegaldesleukin (previously referred to as NKTR-358). If these drug candidates fail in clinical development our business will be significantly harmed.
Delays in clinical studies are common and have many causes, and any significant delay in clinical studies being conducted by us or our partners could result in delay in regulatory approvals and jeopardize the ability to proceed to commercialization.
We currently rely on academic and private non-academic institutions to conduct investigator-sponsored clinical studies or trials of our drug candidates. Any failure by the investigator-sponsor to meet its obligations with respect to the clinical development of our drug candidates may delay or impair our ability to obtain regulatory approval or commercialize for other drug candidates.
The outcomes from the clinical trials of drug candidates from others, and the discovery and development of new potential therapies in immunology and oncology, could have a material and adverse impact on the value of the drug candidates in our research and development pipeline.
The risk of clinical failure for any drug candidate remains high prior to regulatory approval and there can be no assurance that our drug candidates will obtain regulatory approval for any particular indications.
Significant competition could render our partnered and proprietary drugs and drug candidates obsolete or noncompetitive, which would negatively impact our business, results of operations and financial condition.
Preliminary and interim data from our clinical studies that we announce or publish from time to time are subject to audit and verification procedures that could result in material changes in the final data and may change as more patient data become available.
Risks Related to our Financial Condition and Capital Requirement
Our results of operations and financial condition depend significantly on the ability of our collaboration partners to successfully develop and market drugs and they may fail to do so.
We have substantial future capital requirements and there is a risk that we may not have access to sufficient capital to meet our current business plan. If we are unable to raise additional capital in one or more financing transactions, execute new high value collaborations or other arrangements, or do not receive substantial milestone or royalty payments from our existing collaboration agreements, we would be unable to continue our current level of investment in research and development.
The commercial potential of a drug candidate in development is difficult to predict. If the market size for a new drug is significantly smaller than we anticipate, it could significantly and negatively impact our revenue, results of operations and financial condition.
The other 37 risks
If government and private insurance programs do not provide payment or reimbursement for our partnered drug or proprietary drugs, those drugs will not be widely accepted, which would have a negative impact on our business, results of operations and financial condition.
If we are unable to establish and maintain collaboration partnerships on attractive commercial terms, our business, results of operations and financial condition could suffer.
Our revenue has historically been exclusively derived from our collaboration agreements, which can result in significant fluctuation in our revenue from period to period, and our past revenue is therefore not necessarily indicative of our future revenue.
We expect to continue to incur substantial losses and negative cash flow from operations and may not achieve or sustain profitability in the future.
Additional cost-savings measures may be necessary following implementation of our strategic reorganization plan and cost restructuring plans.
Risks Related to Supply and Manufacturing
If our contract manufacturers are not able to manufacture biologic substance or substances in sufficient quantities that meet applicable quality standards, it could delay clinical studies or constitute a breach of our contractual obligations, any of which could significantly harm our business, financial condition and results of operations.
Our CMOs purchase some of the starting material for biologics and biologic candidates from a single source or a limited number of suppliers and we are dependent on Gannet BioChem for the suppy of the PEG reagents, and the partial or complete loss of one of these suppliers could cause production delays and clinical trial delays.
The manufacturing operations of our contract manufacturers are subject to laws and other governmental regulatory requirements, which, if not met, would have a material adverse effect on our business, results of operations and financial condition.
Risks Related to Business Operations
We depend on third parties to conduct the preclinical studies and clinical trials for our drug candidates and any failure of those parties to fulfill their obligations according to protocol standards could harm our development plans and adversely affect our business.
Our future depends on the proper management of our current and future business operations and their associated expenses.
Because competition for highly qualified technical personnel is intense, we may not be able to attract and retain the personnel we need to support our operations and growth.
We are dependent on our management team and key technical personnel, and the loss of any key manager or employee may impair our ability to develop our products effectively and may harm our business, operating results and financial condition.
Inflation has increased our operating costs and could negatively impact our operations.
Our business could be adversely affected by the effects of future health epidemics.
Risks Related to Intellectual Property, Litigation and Regulatory Concerns
If we or our partners do not obtain regulatory approval for our drug candidates on a timely basis, or at all, or if the terms of any approval impose significant restrictions or limitations on use, our business, results of operations and financial condition will be negatively affected.
We may seek orphan drug status or Breakthrough Therapy or Fast Track designations or other designation for one or more of our drug candidates, but even if any such designation or status is granted, it may not lead to a faster
development process or regulatory review and may not increase the likelihood that our drug candidates will receive marketing approval, and we may be unable to maintain any benefits associated with such designations or status, including market exclusivity.
Even if we receive regulatory approval of our drug candidates, we will be subject to ongoing regulatory obligations and continued regulatory review, which may result in significant additional expense and we may be subject to penalties if we fail to comply with regulatory requirements or experience unanticipated problems with our drug candidates.
We are a party to numerous collaboration agreements and other significant agreements which contain complex commercial terms that could result in disputes, litigation or indemnification liability that could adversely affect our business, results of operations and financial condition.
We may not be able to obtain intellectual property licenses related to the development of our drug candidates on a commercially reasonable basis, if at all.
If any of our pending patent applications do not issue, or are deemed invalid following issuance, we may lose valuable intellectual property protection.
We rely on trade secret protection and other unpatented proprietary rights for important proprietary technologies, and any loss of such rights could harm our business, results of operations and financial condition.
If product liability lawsuits are brought against us, we may incur substantial liabilities.
If we or current or future collaborators or service providers fail to comply with healthcare laws and regulations, we or they could be subject to enforcement actions and civil or criminal penalties.
Healthcare legislative or regulatory reform measures may have a negative impact on our business and results of operations.
Disruptions to the normal functioning of the FDA and other government agencies could hinder their ability to perform and carry out important roles and activities on which the operation of our business relies, which could negatively impact our business.
We are involved in legal proceedings and may incur substantial litigation costs and liabilities that will adversely affect our business, financial condition and results of operations.
Any actual or alleged (failure to comply with privacy and data protection laws, could subject us to fines, penalties, increased regulatory scrutiny, or suspension or exclusion from participation in government healthcare programs. Any of these outcomes could adversely affect our business, financial condition and results of operations.
Like many companies, we may use artificial intelligence (AI) technologies, including generative AI, which presents risks and challenges that can impact our business, including by posing cybersecurity risks to our confidential information, proprietary information, and personal data.
Our operations may involve hazardous materials and are subject to environmental, health, and safety laws and regulations. Compliance with these laws and regulations is costly, and we may incur substantial liability arising from our activities involving the use of hazardous materials.
Risk Related to Investment and Securities
The price of our common stock has, and may continue to fluctuate significantly, which could result in substantial losses for investors and securities class action and shareholder derivative litigation.
We have implemented certain anti-takeover measures, which make it more difficult to acquire us, even though such acquisitions may be beneficial to our stockholders.
General Risk Factors
We significantly rely on information technology systems and infrastructure, and any failure, inadequacy, damage, interruption, compromise, incident or breach, or security lapse of that technology within our internal computer systems and infrastructure, or those of our partners, vendors, CROs, CMOs or other contractors or consultants, may result in a material disruption of our development programs and our operations and financial condition.
Changes in tax law could adversely affect our business and financial condition.
Global economic and political conditions may negatively affect us and may magnify certain risks that affect our business.
Our business could be negatively impacted by corporate citizenship and sustainability matters.
If natural disasters or other catastrophic events strike, our business may be harmed.
Legal proceedings
From time to time, we are subject to legal proceedings. We are not currently a party to or aware of any proceedings that we believe will have, individually or in the aggregate, a material adverse effect on our business, financial condition or results of operations.
