0000000000-18-035741.txt : 20190308 0000000000-18-035741.hdr.sgml : 20190308 20181119152747 ACCESSION NUMBER: 0000000000-18-035741 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20181119 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: NEKTAR THERAPEUTICS CENTRAL INDEX KEY: 0000906709 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 943134940 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 455 MISSION BAY BOULEVARD SOUTH CITY: SAN FRANCISCO STATE: CA ZIP: 94158 BUSINESS PHONE: 4154825300 MAIL ADDRESS: STREET 1: 455 MISSION BAY BOULEVARD SOUTH CITY: SAN FRANCISCO STATE: CA ZIP: 94158 FORMER COMPANY: FORMER CONFORMED NAME: INHALE THERAPEUTIC SYSTEMS INC DATE OF NAME CHANGE: 19980723 FORMER COMPANY: FORMER CONFORMED NAME: INHALE THERAPEUTIC SYSTEMS DATE OF NAME CHANGE: 19940303 PUBLIC REFERENCE ACCESSION NUMBER: 0001564590-18-004105 LETTER 1 filename1.pdf begin 644 filename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end TEXT-EXTRACT 2 filename2.txt November 19, 2018 Gil M. Labrucherie Senior Vice President and Chief Financial Officer NEKTAR THERAPEUTICS 455 Mission Bay Boulevard South San Francisco, CA 94158 Re: NEKTAR THERAPEUTICS Form 10-K for the Fiscal Year Ended December 31, 2017 Filed March 1, 2018 File No. 000-24006 Dear Mr. Labrucherie: We have limited our review of your filing to the financial statements and related disclosures 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 the 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 the comment, we may have additional comments. Form 10-Q for the nine months ended September 30, 2018 Notes to the Consolidated Financial Statements Note 6 - License and Collaboration Agreements Bristol-Myers Squibb (BMS), page 15 1. On February 13, 2018 you entered into the BMS collaboration agreement to jointly develop and commercialize NKTR-214. You state that you identified two performance obligations, consisting of the delivery of the licenses and your participation on joint steering and other collaboration committees. Your accounting policy on page 9 states that for collaboration arrangements with multiple performance obligations, such as granting a license and performing research and development activities, you allocate the upfront and milestone payments under a relative standalone selling price method. It is not clear why amounts for research and development in the BMS agreement are not considered a performance obligation nor why, as you state on page 15, that you record cost reimbursement payments to you from BMS as a reduction of research and development Gil M. Labrucherie NEKTAR THERAPEUTICS November 19, 2018 Page 2 expense rather than as revenue. It appears to us that your separation, measurement, allocation and classification of amounts related to the BMS agreement is inconsistent with your accounting policy on page 9 and with your accounting for your agreement with Lilly. Please provide us an analysis with reference to authoritative literature supporting your accounting for the BMS agreement. Also, provide us proposed revised accounting policy disclosure to be included in future filings addressing this inconsistency or tell us why revised disclosure is not necessary. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Mary Mast at (202) 551-3613 or Lisa Vanjoske at (202) 551-3614 with any questions. FirstName LastNameGil M. Labrucherie Sincerely, Comapany NameNEKTAR THERAPEUTICS Division of Corporation Finance November 19, 2018 Page 2 Office of Healthcare & Insurance FirstName LastName