NKTX on Nasdaq

Nkarta Therapeutics (United States)

In its 2026 annual report the company says: “We are a clinical-stage biopharmaceutical company pioneering the development of allogeneic, off-the-shelf engineered natural killer cell therapies. Our lead pipeline program is NKX019, a chimeric antigen receptor-natural killer product candidate targeting the CD19 antigen for the treatment of patients with autoimmune diseases. Our CAR NK platform enables an on-demand, off-the-shelf approach involving scaled manufacturing to broaden patient access.”4 It was founded in 2015.1 It is headquartered in South San Francisco, California.1 Its shares trade on Nasdaq under the symbol NKTX.1

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Last updated Oct 21, 2026.

Overview

2015Founded1

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  • TickerNKTX on Nasdaq1
  • Industrybiotechnology industry1
  • HeadquartersSouth San Francisco, California1
  • Websitewww.nkartatx.com
  • Incorporated inDE3
  • Business address1150 Veterans Boulevard, South San Francisco, Ca 940803
  • Filer categoryNon-accelerated filer, Smaller reporting company3

We are a clinical-stage biopharmaceutical company pioneering the development of allogeneic, off-the-shelf engineered natural killer ("NK") cell therapies. Our company was founded on the belief that engineered NK cell therapies can transform the lives of patients by offering therapies that are clinically meaningful, broadly accessible and unencumbered by the safety concerns often associated with other cell therapy approaches. Our lead pipeline program is NKX019, a chimeric antigen receptor-natural killer ("CAR NK") product candidate targeting the CD19 antigen for the treatment of patients with autoimmune diseases. Our CAR NK platform enables an on-demand, off-the-shelf approach involving scaled manufacturing to broaden patient access. We have developed proprietary technologies designed to generate an abundant supply of NK cells, increase NK cell recognition of target antigens, and enhance…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-33.3%Return on equity5
-$89.9MFree cash flow5

Financial statements

Revenue675$0 in 2025
0$50.0K$100.0K$150.0K2019: $115.0K$115.0K20192024: $0$020242025: $0$02025
Operating income6891075-$122.0M in 2025+446% since 2019
-$150.0M-$100.0M-$50.0M02019: -$22.3M-$22.3M20192020: -$51.5M-$51.5M2020+130%2021: -$86.4M-$86.4M2021+68%2022: -$119.0M-$119.0M2022+38%2023: -$131.7M-$131.7M2023+11%2024: -$128.2M-$128.2M2024−3%2025: -$122.0M-$122.0M2025−5%
Net income6891075-$104.1M in 2025+394% since 2019
-$150.0M-$100.0M-$50.0M02019: -$21.1M-$21.1M20192020: -$91.4M-$91.4M2020+333%2021: -$86.1M-$86.1M2021−6%2022: -$113.8M-$113.8M2022+32%2023: -$117.5M-$117.5M2023+3%2024: -$108.8M-$108.8M2024−7%2025: -$104.1M-$104.1M2025−4%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Research and development$90.4M$96.7M
General and administrative$31.6M$31.4M
Total operating expenses$122.0M$128.2M
Loss from operations-$122.0M-$128.2M
Interest income$15.5M$19.3M
Other income, net$2.4M$87.0K
Total other income, net$17.9M$19.4M
Net Income (Loss)-$104.1M-$108.8M
Net unrealized (loss) gain on investments-$267.0K$666.0K
Comprehensive loss-$104.4M-$108.1M
Net loss per share, basic-$1.41-$1.60
Net loss per share, diluted-$1.41-$1.60
Weighted average shares outstanding used in computing net loss per share, basic74.0M shares67.9M shares
Weighted average shares outstanding used in computing net loss per share, diluted74.0M shares67.9M shares

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Corporate structure

Nkarta Therapeutics (United States) sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Nkarta Therapeutics (United States)

  • New Enterprise Associates 15, L.P. Filed SCHEDULE 13D/A on Nkarta Therapeutics (United States), latest May 19, 2026 (3 filings since May 5, 2022)
  • TANG CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G/A on Nkarta Therapeutics (United States), latest Feb 17, 2026 (2 filings since Jan 27, 2025)
  • Samsara BioCapital, L.P. Filed SCHEDULE 13D/A on Nkarta Therapeutics (United States), latest Nov 24, 2025 (3 filings since Feb 14, 2023)
  • CITADEL ADVISORS LLC Filed SCHEDULE 13G/A on Nkarta Therapeutics (United States), latest Nov 14, 2025 (2 filings since Dec 13, 2024)
  • BlackRock Filed SCHEDULE 13G/A on Nkarta Therapeutics (United States), latest Oct 17, 2025 (6 filings since Feb 3, 2023)
  • Commodore Capital LP Filed SCHEDULE 13G/A on Nkarta Therapeutics (United States), latest Feb 14, 2025 (3 filings since Oct 27, 2023)
  • ADAGE CAPITAL PARTNERS GP, L.L.C. Filed SCHEDULE 13G/A on Nkarta Therapeutics (United States), latest Feb 12, 2025 (3 filings since Nov 3, 2023)
  • LSP 6 Holding C.V. Filed SCHEDULE 13D/A on Nkarta Therapeutics (United States), latest Feb 12, 2025 (2 filings since Feb 9, 2024)
  • James E. Flynn Filed SC 13G/A on Nkarta Therapeutics (United States), latest Nov 14, 2024 (2 filings since Oct 26, 2023)
  • Adage Capital Management, L.P. Filed SC 13G/A on Nkarta Therapeutics (United States), latest Nov 12, 2024
  • Boxer Capital Management, LLC Filed SC 13G/A on Nkarta Therapeutics (United States), latest Oct 25, 2024
  • RA CAPITAL MANAGEMENT, L.P. Filed SC 13D/A on Nkarta Therapeutics (United States), latest Mar 29, 2024 (2 filings since May 2, 2022)
  • Nkarta Therapeutics (United States) South San Francisco, California

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Nkarta Therapeutics (United States) 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.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$95.7M5 Dec 31, 2025$95.5M5 Dec 31, 2024+0.2%
Accumulated depreciation$29.0M5 Dec 31, 2025$20.8M5 Dec 31, 2024+38.9%
Property and equipment, net$66.7M5 Dec 31, 2025$74.7M5 Dec 31, 2024−10.6%
Operating-lease assets (leased space)$34.4M5 Dec 31, 2025$36.0M5 Dec 31, 2024−4.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$39.6M5 Dec 31, 2025$27.9M5 Dec 31, 2024+42.2%
Marketable securities, current$236.6M5 Dec 31, 2025$239.5M5 Dec 31, 2024−1.2%
Debt securities available for sale$252.8M5 Dec 31, 2025$349.9M5 Dec 31, 2024−27.8%
Long-term investments$16.1M5 Dec 31, 2025$110.4M5 Dec 31, 2024−85.4%

Properties, in its own words

Our facilities are located at three leased sites. The first site, located at 6000 Shoreline Court, South San Francisco, California, consists of approximately 28,469 square feet of office and laboratory space and is primarily used for manufacturing activities. Of this office and laboratory space, approximately 14,697 square feet was subleased as of December 31, 2025. Our lease covering multiple suites at this site expires in July 2030, and our subleases expire in November 2027 and July 2030. The second site, located at 750 Gateway Boulevard, South San Francisco, California, consists of 510 square feet of vivarium and laboratory space, and is primarily used for preclinical research. Our agreement that provides for our use of these vivarium and laboratory spaces expires in December 2028. The third site, located at 1150 Veterans Boulevard, South San Francisco, California, consists of 88,000 square feet of office and laboratory space and is primarily used for research, clinical, manufacturing and corporate activities. This lease expires in 2034. As a result of moving our main offices and research activities to the Veterans location in 2023, we vacated certain suites at the 6000 Shoreline Court location. We sublease some of these suites while still maintaining sufficient office and laboratory space to allow our team to continue to develop our proprietary programs. We believe that these facilities are sufficient to meet our current needs.

Item 2 of the 10-K filed Mar 25, 2026.4

Leadership

Who has led Nkarta Therapeutics (United States), and when. Pick a name to see everywhere that person has worked.

Chief financial officer

  1. Matthew Plunkett2020
20202025
Board members and other officers (23)

Timeline

  1. Aug 10, 20268-K Results of operations37
  2. Jun 11, 20268-K Shareholder vote38
  3. May 12, 20268-K Results of operations39
  4. Mar 26, 20268-K Other events40
  5. Mar 25, 20268-K Results of operations41
  6. Nov 10, 20258-K Results of operations42
  7. Aug 12, 20258-K Results of operations43
  8. Jun 6, 20258-K Executive or director change; Shareholder vote; Regulation FD disclosure44
  9. May 14, 20258-K Results of operations45
  10. Mar 26, 20258-K Results of operations; Exit or restructuring costs; Executive or director change46
  11. Nov 7, 20248-K Results of operations47
  12. Aug 16, 20248-K Results of operations48
  13. Jan 12, 2021New chief executive Paul J. Hastings becomes CEO13
  14. 2015Founded Founded1

Calendar

Coming up

  1. Nov 9, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.29) a share, on Nov 10, 2025.49

When it reported results

  1. Aug 10, 2026Reported quarterly or annual results37
  2. May 12, 2026Reported quarterly or annual results39
  3. Mar 25, 2026Reported quarterly or annual results41
  4. Nov 10, 2025Reported quarterly or annual results42
  5. Aug 12, 2025Reported quarterly or annual results43
  6. May 14, 2025Reported quarterly or annual results45
  7. Mar 26, 2025Reported quarterly or annual results46
  8. Nov 7, 2024Reported quarterly or annual results47

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

289 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 48 major events, 137 insider forms, 45 large holders, 39 other. The latest 20:

  1. Aug 10, 202610-Q EDGAR
  2. Aug 10, 20268-K EDGAR
  3. Jun 22, 20264 EDGAR
  4. Jun 11, 20264 EDGAR
  5. Jun 11, 20268-K EDGAR
  6. Jun 11, 20264 EDGAR
  7. Jun 11, 20264 EDGAR
  8. Jun 11, 20264 EDGAR
  9. Jun 11, 20264 EDGAR
  10. Jun 11, 20264 EDGAR
  11. Jun 11, 20264 EDGAR
  12. Jun 11, 20264 EDGAR
  13. May 19, 2026SCHEDULE 13D/A EDGAR
  14. May 12, 202610-Q EDGAR
  15. May 12, 20268-K EDGAR
  16. Apr 23, 2026ARS EDGAR
  17. Apr 23, 2026DEFA14A EDGAR
  18. Apr 23, 2026DEF 14A EDGAR
  19. Apr 3, 2026EFFECT EDGAR
  20. Apr 3, 2026424B5 EDGAR

The 289 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

52 open-market trades by officers, directors and large owners since October 2021: 4 buys and 48 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 18, 2026HASTINGS PAUL JChief Executive OfficerSale1,776$2.71$4.8KForm 4
Jan 15, 2026HASTINGS PAUL JChief Executive OfficerSale26,046$2.07$53.9KForm 4
Jan 15, 2026Mahmood NadirPresidentSale5,649$2.07$11.7KForm 4
Jun 18, 2025HASTINGS PAUL JChief Executive OfficerSale1,790$1.79$3.2KForm 4
Jan 15, 2025Shook DavidSee RemarksSale8,638$2.20$19.0KForm 4
Jan 15, 2025Levin AlyssaSee RemarksSale5,838$2.20$12.8KForm 4
Jan 15, 2025Brandenberger RalphChief Technical OfficerSale7,447$2.20$16.4KForm 4
Jan 15, 2025HASTINGS PAUL JChief Executive OfficerSale17,378$2.20$38.2KForm 4
Jan 15, 2025Hager Alicia J.Chief Legal OfficerSale9,584$2.20$21.1KForm 4
Jul 16, 2024Hager Alicia J.Chief Legal OfficerSale3,396$8.00$27.2KForm 4
Jun 18, 2024Trager JamesChief Scientific OfficerSale456$5.60$2.6KForm 4
Jun 18, 2024HASTINGS PAUL JChief Executive OfficerSale1,770$5.60$9.9KForm 4
Jun 18, 2024Shook DavidSee RemarksSale456$5.60$2.6KForm 4
Jun 18, 2024Hager Alicia J.Chief Legal OfficerSale727$5.60$4.1KForm 4
Jun 18, 2024Brandenberger RalphChief Technical OfficerSale229$5.60$1.3KForm 4
Mar 27, 2024RA CAPITAL MANAGEMENT, L.P.DirectorBuy3,000,000$10.00$30.0MForm 4
Mar 27, 2024George SimeonDirectorBuy2,000,000$10.00$20.0MForm 4
Mar 1, 2024Brandenberger RalphChief Technical OfficerSale8,367$12.51$104.7KForm 4
Feb 12, 2024Trager JamesChief Scientific OfficerSale4,143$12.00$49.7KForm 4
Jan 16, 2024Shook DavidSee RemarksSale3,552$8.74$31.0KForm 4

All 52 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

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.

YearExecutiveAgeSalaryTotal pay
2025Paul J. HastingsChief Executive Officer66$674.4K$3.0M69
2025Nadir Mahmood, Ph.D.President46$543.2K$1.4M69
2025Shawn Rose, M.D., Ph.D.Chief Medical Officer and Head of Research and Development48$316.6K$1.2M69
2024Paul J. HastingsChief Executive Officer66$648.4K$4.0M69
2024Nadir Mahmood, Ph.D.President46$226.4K$3.3M69

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.

FundSharesValueShare of the fundChange
Ra Capital Management, L.P.10,805,129$30.6M0.3%No change
BlackRock, Inc.6,300,212$17.8M0.0%+1,791,739
NEA Management Company, LLC3,568,781$10.1M0.6%No change
Samsara Biocapital, LLC3,507,666$9.9M0.8%No change
SR One Capital Management, LP3,333,333$9.4M0.9%No change
GSK plc3,150,732$8.9M1.5%No change
Monaco Asset Management SAM2,373,400$6.7M2.5%−148,532
Vanguard Capital Management LLC2,226,415$6.3M0.0%+214,994
Citadel Advisors LLC2,174,745$6.2M0.0%+390,751
Two Sigma Investments, LP1,873,293$5.3M0.0%−174,083
Wasatch Advisors LP1,577,847$4.5M0.0%No change
State Street Corp1,286,109$3.6M0.0%+48,635
Geode Capital Management, LLC1,285,507$3.6M0.0%+17,592
Renaissance Technologies LLC1,177,652$3.3M0.0%−554,720
Aqr Capital Management LLC1,054,251$3.0M0.0%+458,525
AWM Investment Company, Inc.906,000$2.6M0.2%No change
Blackstone Inc.747,044$2.1M0.0%New
Marshall Wace, Llp673,010$1.9M0.0%New
Panagora Asset Management Inc583,249$1.7M0.0%+299,039
Jpmorgan Chase & Co562,980$1.6M0.0%−12,021
Peapod Lane Capital LLC549,923$1.6M1.1%−126,289
Alyeska Investment Group, L.P.484,840$1.4M0.0%−1,600,000
Dimensional Fund Advisors LP483,211$1.4M0.0%+136,618
Nuveen, LLC469,555$1.3M0.0%+23,757
Goldman Sachs Group Inc433,982$1.2M0.0%+48,982

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Nkarta Therapeutics (United States) is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNkarta, Inc.2
  • CIK0001787400
  • Employer ID (EIN)47-45152064
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 312
  • Industry code (SIC)2834 Pharmaceutical Preparations2
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance2
  • Business address1150 Veterans Boulevard, South San Francisco, CA 940802
  • Phone(925) 407-10492
  • Shares outstanding71,624,791 as of Aug 5, 202612
  • Public float$82.6M as of Jun 30, 20254
  • AuditorErnst & Young LLP, California PCAOB ID 42; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceSep 6, 20192
  • Filings436 in all: 4 (184), 8-K (60), 3 (32), 10-Q (19), SC 13G/A (16), SC 13G (14), SC 13D/A (12), CORRESP (9)2
    All 37 form types

    UPLOAD (8), S-8 (7), 10-K (6), DEF 14A (6), DEFA14A (6), SC 13D (6), 144 (5), 424B5 (5), SCHEDULE 13G/A (5), ARS (4), EFFECT (4), DRSLTR (3), S-1/A (3), S-3 (3), SCHEDULE 13D/A (3), DRS/A (2), PRE 14A (2), 3/A (1), 4/A (1), 424B4 (1), 8-A12B (1), 8-K/A (1), CERT (1), D (1), DRS (1), S-1 (1), S-1MEF (1), S-3/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 25, 2026
    Quarterly report (10-Q) Aug 10, 2026
    Proxy statement (DEF 14A) Apr 23, 2026
    Latest 8-K (8-K) Aug 10, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.0001 par value per shareNKTXNasdaq Global Select Market

From the cover page of the 10-K filed Mar 25, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Nkarta Therapeutics (United States) names in Item 1A of its 10-K filed Mar 25, 2026: 73 risks under these headings, as written.4

  • Risks Related to our Financial Position
  • We have a limited operating history and do not have any products approved for sale.
  • We have incurred significant losses since our inception, and we expect to continue to incur significant losses for the foreseeable future.
  • We have never generated revenue from product sales and may never achieve or maintain profitability.
  • We will require additional capital, which, if available, may cause dilution to our stockholders, restrict our operations or require us to relinquish rights to our product candidates.
  • Impairment of our long-lived assets could have a material adverse effect on our financial condition and results of operations.
  • Risks Related to Our Business and Industry
  • Our business depends upon the success of our CAR NK-cell technology platform.
  • Utilizing CAR NK cells represents a novel therapeutic approach, and we must overcome significant challenges in order to develop, commercialize and manufacture our product candidates.
  • Clinical development involves a lengthy and expensive process with an uncertain outcome, and we may encounter substantial delays due to a variety of reasons outside our control.
  • Our business is highly dependent on the clinical success of our product candidates, and on the clinical success of NKX019, in particular, and we may fail to develop NKX019 and/or our other product candidates successfully or be unable to obtain regulatory approval for them.
  • Clinical data supporting the effectiveness of CD19-targeted cell therapies against autoimmune diseases are limited, and CD19-targeted CAR NK-cell therapies, such as NKX019, may not provide the same, or any, therapeutic benefit against B-cell mediated autoimmune diseases, or be competitive with respect to other CD19-targeted therapies for the treatment of autoimmune diseases.
The other 63 risks
  • Enrollment and retention of patients in clinical trials is an expensive and time-consuming process and could be delayed, made more difficult or rendered impossible by multiple factors outside our control.
  • Certain aspects of the function and production of CAR NK cells are currently unknown or poorly understood, and may only become known through further preclinical testing and clinical trials. Any potential re-engineering required may result in delays and additional expenses.
  • The results of preclinical studies and early-stage clinical trials may not be predictive of future results. Interim, “topline” and preliminary data from our clinical trials may differ materially from the final data. Initial success in any clinical trials may not be indicative of results obtained when these trials are completed or in later stage trials.
  • If any of our product candidates, or any competing product candidates, demonstrate relevant, serious adverse events, we may be required to halt or delay further clinical development.
  • If we fail to compete effectively with academic institutions and other biopharmaceutical companies that develop similar or alternatives to cellular immunotherapy product candidates, our business will be materially adversely affected.
  • Our preclinical pipeline programs may experience delays or may never advance to clinical trials, which would adversely affect our ability to obtain regulatory approvals or commercialize these programs on a timely basis or at all.
  • We have entered into, and we may in the future enter into, research collaborations with third parties to develop or commercialize potential product candidates. Our prospects with respect to those product candidates will depend in significant part on the success of those collaborations, and we may not realize the benefits of such collaborations.
  • Results of any patient who receives NKX019 or any of our other product candidates in an investigator-sponsored trial ("IST") should not be viewed as representative of how the product candidate will perform in our clinical trials, may not be able to be used to establish safety or efficacy for regulatory approval, and may negatively impact our ability to develop and commercialize the product candidate depending on the results.
  • We may seek special designations by the regulatory authorities to expedite regulatory approvals, but may not be successful in receiving such designations, and even if received, they may not benefit the development and regulatory approval process.
  • We may seek and obtain orphan drug designation for our product candidates, and we may be unsuccessful or may be unable to maintain the benefits associated with orphan drug designation, including the potential for market exclusivity.
  • Public opinion and scrutiny of cell-based immunotherapies may impact public perception of our company and product candidates, or impair our ability to conduct our business.
  • We may not identify or discover other product candidates and may fail to capitalize on programs or product candidates that may present a greater commercial opportunity or for which there is a greater likelihood of success.
  • If third parties that we rely on to conduct clinical trials do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, we may not be able to obtain marketing approval for or commercialize our product candidates.
  • Our business and the business or operations of our research partners and other third parties with whom we conduct business have been and could in the future be adversely affected by the effects of pandemics, epidemics, and outbreaks of infectious diseases in regions where we or third parties on which we rely have business operations.
  • If we are not able to establish pharmaceutical or biotechnology collaborations on commercially reasonable terms, or at all, we may have to alter our development and commercialization plans.
  • We may need to increase the size of our organization, and we may experience difficulties in managing growth.
  • If we fail to attract and retain senior management, clinical, and key scientific personnel, we may be unable to successfully develop our product candidates, conduct our clinical trials and commercialize our product candidates.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and could limit commercialization of any product candidate that we may develop.
  • The increasing use of social media platforms presents new risks and challenges.
  • Our insurance policies may be inadequate, may not cover all of our potential liabilities and may potentially expose us to unrecoverable risks.
  • Our business involves the use of hazardous materials and we and our third-party manufacturers and suppliers must comply with environmental laws and regulations, which can be expensive and restrict how we do business.
  • Our business could be negatively impacted by the failure to address evolving environmental, social, and corporate governance matters.
  • Risks Related to Manufacturing
  • Our manufacturing process is novel and complex, and we may encounter difficulties in production, or difficulties with internal manufacturing, which would delay or prevent our ability to provide a sufficient supply of our product candidates for clinical trials or our products for patients, if approved.
  • We rely on third parties to manufacture certain materials for use in the production of our product candidates, or may rely on third parties to manufacture certain of our product candidates in the future, which increases the risk
  • that we will not have sufficient quantities of such materials or product candidates, or such quantities at an acceptable cost, which could delay, prevent or impair our development or commercialization efforts.
  • We are reliant on a sole supplier for certain steps of our manufacturing process.
  • Delays in commissioning and receiving regulatory approvals for our manufacturing facilities could delay our development plans and thereby limit our ability to develop our product candidates and generate revenues.
  • The optimal donor and manufacturing parameters for our product candidates have not been definitively established, which may hinder our ability to optimize our product candidates or to address any safety or efficacy issues that may arise.
  • We are dependent on third parties to store our CAR NK cells, viral vector, master and working cell banks of NKSTIM cells, and any damage or loss would cause delays in replacement, and our business could suffer.
  • We have not yet developed a validated methodology for freezing and thawing commercial-scale quantities of CAR NK cells, which we believe will be required for the storage and distribution of our CAR NK-cell product candidates.
  • Risks Related to Our Intellectual Property
  • If our license agreement with National University of Singapore and St. Jude Children’s Research Hospital, Inc. is terminated, we could lose our rights to key components enabling our NK-cell engineering platform.
  • If any patent protection we obtain is not sufficiently robust, our competitors could develop and commercialize products and technology similar or identical to ours.
  • Claims brought against us for infringing, misappropriating or otherwise violating intellectual property rights of third parties or engaging in unfair competition, would be costly and time-consuming and could prevent or delay us from successfully developing or commercializing our product candidates.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent, which could materially adversely affect our ability to develop, manufacture and market our product candidates.
  • Our development and commercialization rights to our current and future product candidates and technology are subject, in part, to the terms and conditions of licenses granted to us by others.
  • Duration of patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time, and the expiration of our patents may subject us to increased competition.
  • Even after issuance, our owned and in-licensed patents may be subject to challenge, which if successful could result in a partial or complete loss of patent rights, which could materially adversely affect our ability to protect our competitive position.
  • We may not be able to effectively monitor unauthorized use of our intellectual property and enforce our intellectual property rights against infringement, and may incur substantial costs as a result of bringing litigation or other proceedings relating to our intellectual property rights.
  • We will not seek to protect our intellectual property rights in all jurisdictions throughout the world and we may not be able to adequately enforce our intellectual property rights even in the jurisdictions where we seek protection.
  • Changes in U.S. patent law or the patent law of other jurisdictions could decrease the certainty of our ability to obtain patents and diminish the value of patents in general, thereby impairing our ability to protect our current and any future product candidates.
  • We may fail to obtain or enforce assignments of intellectual property rights from our employees, consultants and contractors.
  • If we are not able to adequately prevent disclosure of trade secrets and other proprietary information, the value of our technology and product candidates could be materially diminished.
  • The U.S. government could choose to exercise certain rights in technology developed under government-funded research, which could eliminate our exclusive use of such technology or require us to commercialize our product candidates in a way we consider sub-optimal.
  • Risks Related to Commercialization
  • If any of our product candidates are approved for marketing and commercialization and we have not developed or secured marketing, sales and distribution capabilities, either internally or from third parties, we will be unable to successfully commercialize such products and may not be able to generate product revenue.
  • Our product candidates, including NKX019, could be subject to regulatory limitations following approval, if and when such approval is granted.
  • The market opportunities for our product candidates, if and when approved, may be limited, and if such market opportunities are smaller than we expect, our revenues could be materially adversely affected and our business could suffer.
  • The commercial success of any of our product candidates will depend upon such product candidate’s degree of market acceptance by physicians, patients, third-party payors and others in the medical community.
  • The insurance coverage and reimbursement status of newly approved products is uncertain. Failure to obtain or maintain adequate coverage and reimbursement for our product candidates, if approved, could limit our ability to market such products and to generate product revenue.
  • Healthcare reform initiatives and other administrative and legislative proposals may harm our business.
  • Obtaining and maintaining marketing approval or commercialization of our product candidates in one jurisdiction does not mean that we will be successful in obtaining marketing approval of our product candidates in other jurisdictions.
  • Our business operations and relationships with investigators, healthcare professionals, consultants, third-party payors, patient organizations and customers will be subject to applicable fraud and abuse and other healthcare laws and regulations, which could expose us to penalties.
  • We may fail to comply with evolving global privacy laws.
  • Risks Related to Our Common Stock
  • The market price for our common stock may be volatile, which could contribute to the loss of all or part of your investment.
  • Concentration of ownership of our shares of common stock among our existing executive officers, directors and principal stockholders may prevent new investors from influencing significant corporate decisions.
  • A significant portion of our total outstanding shares are eligible to be sold into the market, which could cause the market price of our common stock to drop significantly.
  • We are a “smaller reporting company” and we rely on exemptions from certain disclosure and governance requirements applicable to smaller reporting companies, as a result of which our common stock may be less attractive to investors.
  • Our severance and change in control agreements with our executive officers may require us to pay severance benefits to any of those persons who are terminated, which could materially adversely affect our financial condition or results of operations.
  • Our ability to use our net operating loss carryovers and certain other tax attributes may be limited.
  • We do not expect to pay any cash dividends to the holders of our common stock for the foreseeable future.
  • Provisions in our certificate of incorporation, our bylaws and Delaware law may have anti-takeover effects that could discourage an acquisition of us by others, even if an acquisition would be beneficial to our stockholders, and may prevent attempts by our stockholders to replace or remove our current management.
  • Our certificate of incorporation includes a forum selection clause, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us.
  • General Risk Factors
  • Computer system interruptions or security breaches of our information systems could significantly disrupt our product development programs and our ability to operate our business.
  • The misuse of artificial intelligence could adversely impact our business, including by posing security risks to our confidential information, proprietary information and personal data.

Legal proceedings

From time to time, we may become involved in litigation or other legal proceedings relating to claims arising from the ordinary course of business. There are currently no claims or actions pending against us that, in the opinion of our management, are likely to have a material adverse effect on our business, results of operations, financial condition or growth prospects.

The opening of Item 3, Legal Proceedings.4

Sources

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