Nkarta Narrows Loss After Second-Quarter Lease Impairment

The Tip Desk · November 5, 2026 · 3 min read

The biotech posted a $33.3 million net loss, or $0.45 a share, as it scheduled NKX019 data for ACR Convergence 2026.

Nkarta, Inc. (NKTX), a clinical-stage biotechnology company developing engineered natural killer cell therapies for autoimmune diseases, reported a net loss of $33.3 million, or $0.45 a share, for the third quarter ended September 30, 2026, compared with a $40.4 million loss, or $0.54 a share, in the second quarter.

The second-quarter loss had included $11.8 million of non-cash charges, among them an $8.0 million impairment of right-of-use assets, leasehold improvements and other equipment. The third-quarter net loss included non-cash charges of $2.8 million that consisted primarily of share-based compensation and depreciation.

General and administrative expenses fell to $6.3 million from $14.1 million in the second quarter. Research and development expenses were $29.5 million.

Cash, cash equivalents, restricted cash and investments in marketable securities were $216.0 million as of September 30, 2026, down from $243.2 million as of June 30. The company said it expects that cash to fund its current operating plan into 2029, matching the outlook it gave after the second quarter.

Chief Executive Officer Paul J. Hastings said NKX019 is advancing in the company’s two lead indications, idiopathic inflammatory myopathy and systemic sclerosis. Nkarta said it was selected to present initial clinical data in two oral presentations and one poster at ACR Convergence 2026 in Orlando: an oral presentation in myositis on November 8, a poster in systemic sclerosis on November 9, and an oral presentation of safety data across autoimmune indications on November 11.

Enrollment continues in the Ntrust program, the company’s multi-center, open-label, dose-escalation trials evaluating NKX019 in multiple autoimmune diseases. Outpatient dosing is underway at a network of community-based sites. Patients are being dosed at 4 billion cells per dose times three doses, or 12 billion cells total, across all indications in Ntrust-1 and Ntrust-2.

Ntrust-1 and Ntrust-2 are enrolling up to 12 patients per dose level per disease indication, with leading indications in myositis and systemic sclerosis, as well as ANCA-associated vasculitis, rheumatoid arthritis, lupus nephritis, and primary membranous nephropathy. Both trials assess the safety of NKX019 and its potential to achieve durable remission through elimination of pathogenic B cells. Patients receive a three-dose cycle following lymphodepletion with fludarabine and cyclophosphamide, or cyclophosphamide alone if they have significant cytopenia at baseline. Additional cycles may be given if needed.

Hastings said the company believes the safety profile of engineered CAR-NK cells could broaden cell therapy access, citing off-the-shelf availability and outpatient dosing at community-based sites.

The company’s condensed statements of operations showed total operating expenses of $35.8 million for the three months ended September 30, 2026, versus $27.3 million a year earlier. Interest income was $2.2 million. Weighted average shares used to compute net loss per share were 74.6 million.

On the balance sheet, property and equipment, net, was $54.6 million as of September 30, 2026, versus $66.7 million at December 31, 2025. Operating lease liabilities were $72.0 million. Stockholders’ equity was $215.7 million.

The company said it expects its current cash and cash equivalents to fund its current operating plan into 2029.