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What’s Nektar Therapeutics’ Guidance for Fiscal 2018?

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Fiscal 2018 guidance

For fiscal 2018, Nektar Therapeutics (NKTR) has recently raised its guidance to ~$1.1 billion, as the company will account for payments related to its Bristol Myers Squibb (BMY) collaboration in Q2 2018, which will end on June 30, 2018. The company will recognize the collaboration-related upfront payment of $1 billion in the quarter. On excluding these payments, Nektar Therapeutics maintained its full-year 2018 outlook range of $100 million to $110 million.

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For full fiscal 2018, the company expects to register R&D (research and development) expenses of $400 million to $425 million. The general and administrative expenses are expected to be in the range of $70 million to $75 million. Nektar Therapeutics expects to end fiscal 2018 with a cash and investment balance between $1.9 billion and $1.93 billion.

As per Wall Street estimates, Nektar Therapeutics will report sales of $1.2 billion and adjusted EPS (earnings per share) of $3.73 in the full fiscal 2018.

Quarterly outlook

For Q2 2018, Nektar Therapeutics is estimated to report sales of $1 billion and adjusted diluted EPS of $5.22, which is due to the recognition of the upfront payments related to the BMS collaboration, as outlined in the diagram above.

According to analysts’ estimates, Nektar Therapeutics’ peers Exact Sciences (EXAS), Seattle Genetics (SGEN), and Ionis Pharmaceuticals (IONS) are expected to register sales of $435 million, $600 million, and $635 million, respectively, in their next fiscal years.

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