SEC Comment Letter for NEKTAR THERAPEUTICS (NKTR) (CIK 0000906709) (NKTR) — Dec 14, 2017
NEKTAR THERAPEUTICS (NKTR) (CIK 0000906709)
Date: Dec. 14, 2017 · CIK: 0000906709 · Accession: 0000000000-17-043657
AI Filing Summary & Sentiment
File numbers found in text: 000-24006
Letter
December 14, 2017 Gil M. Labrucherie Senior Vice President and Chief Financial Officer Nektar Therapeutics 455 Mission Bay Boulevard South San Francisco, California 94158 Re:Nektar Therapeutics Form 10-K for the Fiscal Year Ended December 31, 2016 Filed March 1, 2017 Form 10-Q for the Quarterly Period Ended September 30, 2017 Filed November 8, 2017 File No. 000-24006 Dear Mr. Labrucherie: We have reviewed your November 20, 2017 response to our comment letter as well as your Form 10-Q for the quarterly period ended September 30, 2017 and have the following comment. In our comment we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to our comment, we may have additional comments. Form 10-Q for Quarterly Period Ended September 30, 2017 Note 6 - License and Collaboration Agreements, page 15 1.As it relates to your August 23, 2017 license agreement with Eli Lilly to co-develop NKTR-358, please provide us with your accounting analysis under ASC 605-25-25-5(a) supporting your determination that the license granted to Eli Lilly has stand-alone value and therefore represents a separate unit-of-account. Specifically address how you were able to separate the license from your Phase 1 clinical development obligation.
FirstName LastNameGil M. Labrucherie Comapany NameNektar Therapeutics June 16, 2017 Page 2 FirstName LastName Gil M. Labrucherie Nektar Therapeutics December 14, 2017 Page 2 You may contact Ibolya Ignat at (202) 551-3636 or Angela Connell at (202) 551- 3426 with any questions. Division of Corporation Finance Office of Healthcare & Insurance
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December 14, 2017
Gil M. Labrucherie
Senior Vice President and Chief Financial Officer
Nektar Therapeutics
455 Mission Bay Boulevard South
San Francisco, California 94158
Re:Nektar Therapeutics
Form 10-K for the Fiscal Year Ended December 31, 2016
Filed March 1, 2017
Form 10-Q for the Quarterly Period Ended September 30, 2017
Filed November 8, 2017
File No. 000-24006
Dear Mr. Labrucherie:
We have reviewed your November 20, 2017 response to our comment letter as well as
your Form 10-Q for the quarterly period ended September 30, 2017 and have the following
comment. In our comment we may ask you to provide us with information so we may better
understand your disclosure.
Please respond to this comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to our comment, we may have additional comments.
Form 10-Q for Quarterly Period Ended September 30, 2017
Note 6 - License and Collaboration Agreements, page 15
1.As it relates to your August 23, 2017 license agreement with Eli Lilly to co-develop
NKTR-358, please provide us with your accounting analysis under ASC 605-25-25-5(a)
supporting your determination that the license granted to Eli Lilly has stand-alone value
and therefore represents a separate unit-of-account. Specifically address how you were
able to separate the license from your Phase 1 clinical development obligation.
FirstName LastNameGil M. Labrucherie
Comapany NameNektar Therapeutics
June 16, 2017 Page 2
FirstName LastName
Gil M. Labrucherie
Nektar Therapeutics
December 14, 2017
Page 2
You may contact Ibolya Ignat at (202) 551-3636 or Angela Connell at (202) 551-
3426 with any questions.
Division of Corporation Finance
Office of Healthcare & Insurance