Nektar Therapeutics (NASDAQ:NKTR), a co-developer of Exubera inhaled insulin, announced its financial results 2006 and Q4.
The pulmonary drug delivery company announced that “[r]evenue for 2006 related to Exubera (insulin human [rDNA origin]) Inhalation Powder was $110.2 million.”
For the 2006 calendar year, Nektar reported a “net loss of $154.8 million or $(1.72) per share” under Generally Accepted Accounting Principles (’GAAP’) and a non-GAAP net loss of $92.3 million.
What’s not included in these figures? According to Nektar, the non-GAAP net loss for 2006 excludes:
- $17.3 million of SFAS 123R stock-based compensation charges
- A $17.7 million charge for a litigation settlement with the University of Alabama Huntsville over an Exubera-related patent dispute;
- $5.5 million for impairment of long lived assets, and
- $21.9 million in severance and restructuring charges
Exubera may be generating some revenue for Nektar, but it doesn’t currently appear to be doing the same for Pfizer. According to a number of recent reports, Exubera sales have not been generating signficant revenue for Pfizer.
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