Nektar Therapeutics (Nasdaq: NKTR), a research-based, development stage biopharmaceutical company, reported yesterday its financial results for the first half of 2019.

The company reported revenue in the first half of 2019 at USD51.5m compared to USD1.126bn in the same period in 2018.

The firm posted total operating costs and expenses in the first half of 2019 at USD283.2m as compared to USD238.9m in the first half of 2018.

Net loss in the first half of 2019 was USD228.4m or USD1.31 basic and diluted loss per share as compared to a net income of USD875.7m or USD4.91 diluted earnings per share in the first half of 2018.

Howard W Robin, president and CEO of Nektar, said, 'Nektar is making good progress advancing our multiple programs in immuno-oncology, immunology and pain. With our partner Bristol-Myers Squibb, although we've experienced some delays, we are working to finalise the development program for bempegaldesleukin in combination with nivolumab in a number of tumour types and which are designed to support registration for this unique I-O doublet. We have a number of registrational trials already started and we recently received a breakthrough designation from FDA for bempeg and nivo in the setting of first-line untreated metastatic melanoma. Our partner, Eli Lilly, will be initiating several new studies later this year for NKTR-358, our T regulatory stimulator candidate. These studies will expand the program with additional indications beyond lupus. We recently filed an IND with the FDA for NKTR-255, our IL-15 agonist, and will initiate our first-in-human clinical study this quarter in patients with relapsed, refractory NHL and in patients with multiple myeloma.'