On this page of StockholderLetter.com we present the latest annual shareholder letter from Nkarta, Inc. — ticker symbol NKTX. Reading current and past NKTX letters to shareholders can bring important insights into the investment thesis.
1234536 89 99 3 45
012345 738347 7490 23247 815 4 9 81 4 9 2772 1 5 9 81108* 4+ 3 +0 70813 3 74932 1 !, ! %-) 3 4 7490 23247 4 9 81 4 893 ! , & ( . / 0 1( & ( -(- 5(/(23(& ,! 3 817232 1 4+ 3 +0 70813 3 74932 1 !, ! %-) 3 4 7490 23247 4 9 81 4 893 ! , 3 4 3 817232 1 +4 2 5 3 9 22 0( 1423(& !", ,5 1' & 2 / 5(0 8 &( %46 / 2( . &( & 7(/ . (- / & (&) 5" ! 9 %7 ( & (& :4& - / . / &7 & & & ; ) %2 7 4270 1(& 2-( . / 1 ) %8--&( . 7& / 7 0 (6(/4 >( .. /( ) %@ 7 9 -() !! <( (& = 40(> &7 4 7 & / / 98 BCDEFGHGCI FCJGIHCFCK LEFIEMNH HO BCDHGON PQRST OU HVC WDHX 3 0( . ( / /0 YOZZON BHOD[\ ]^_^^^P LMF MaEC LCF IVMFC % ) 5"! %( & A (0(7 ( 423(& /04- &( / -() 3& - 7123 0% ) bcde 1 2( . ( / (6/ ( 8 / &( (&(- bMIKMf gaOSMa BCaCDH hMF[CH BCDEFGHGCI FCJGIHCFCK LEFIEMNH HO BCDHGON PQRJT OU HVC WDHX 1 ( iNKGDMHC Sj DVCD[ ZMF[ GU HVC FCJGIHFMNH GI M kCaal[NOkN ICMIONCK GIIECF\ MI KCUGNCK GN mEaC n^o OU HVC BCDEFGHGCI WDH_ pqB r bs t iNKGDMHC Sj DVCD[ ZMF[ GU HVC FCJGIHFMNH GI NOH FCfEGFCK HO UGaC FCLOFHI LEFIEMNH HO BCDHGON Pu OF PoRKT OU HVC WDH_ pqB r bs t iNKGDMHC Sj DVCD[ ZMF[ kVCHVCF HVC FCJGIHFMNHX RPT VMI UGaCK Maa FCLOFHI FCfEGFCK HO SC UGaCK Sj BCDHGON Pu OF PoRKT OU HVC BCDEFGHGCI qvDVMNJC WDH OU Pwun KEFGNJ HVC LFCDCKGNJ PQ ZONHVI ROF UOF IEDV IVOFHCF LCFGOK HVMH HVC FCJGIHFMNH kMI FCfEGFCK HO UGaC IEDV FCLOFHIT\ MNK RQT VMI SCCN IESxCDH HO IEDV UGaGNJ FCfEGFCZCNHI UOF HVC LMIH w^ KMjI_ pqB t bs r iNKGDMHC Sj DVCD[ ZMF[ kVCHVCF HVC FCJGIHFMNH VMI IESZGHHCK CaCDHFONGDMaaj C`CFj iNHCFMDHG C yMHM zGaC FCfEGFCK HO SC IESZGHHCK LEFIEMNH HO mEaC n^o OU mCJEaMHGON Bld R{QuQ_n^o OU HVGI DVMLHCFT KEFGNJ HVC LFCDCKGNJ PQ ZONHVI ROF UOF IEDV IVOFHCF LCFGOK HVMH HVC FCJGIHFMNH kMI FCfEGFCK HO IESZGH IEDV UGaCIT_ pqB t bs r iNKGDMHC Sj DVCD[ ZMF[ kVCHVCF HVC FCJGIHFMNH GI M aMFJC MDDCaCFMHCK UGaCF\ MN MDDCaCFMHCK UGaCF\ M NONlMDDCaCFMHCK UGaCF\ IZMaaCF FCLOFHGNJ DOZLMNj\ OF MN CZCFJGNJ JFOkHV DOZLMNj_ BCC HVC KCUGNGHGONI OU |aMFJC MDDCaCFMHCK UGaCF\} |MDDCaCFMHCK UGaCF\} |IZMaaCF FCLOFHGNJ DOZLMNj\} MNK |CZCFJGNJ JFOkHV DOZLMNj} GN mEaC PQSlQ OU HVC qvDVMNJC WDH_ ~MFJC MDDCaCFMHCK UGaCF r WDDCaCFMHCK UGaCF r bONlMDDCaCFMHCK UGaCF t BZMaaCF FCLOFHGNJ DOZLMNj t qZCFJGNJ JFOkHV DOZLMNj t iU MN CZCFJGNJ JFOkHV DOZLMNj\ GNKGDMHC Sj DVCD[ ZMF[ GU HVC FCJGIHFMNH VMI CaCDHCK NOH HO EIC HVC CvHCNKCK HFMNIGHGON LCFGOK UOF DOZLajGNJ kGHV MNj NCk OF FC`GICK UGNMNDGMa MDDOENHGNJ IHMNKMFKI LFO`GKCK LEFIEMNH HO BCDHGON PuRMT OU HVC qvDVMNJC WDH_ t iNKGDMHC Sj DVCD[ ZMF[ kVCHVCF HVC FCJGIHFMNH VMI UGaCK M FCLOFH ON MNK MHHCIHMHGON HO GHI ZMNMJCZCNH I MIICIIZCNH OU HVC CUUCDHG CNCII OU GHI GNHCFNMa DONHFOa O`CF UGNMNDGMa FCLOFHGNJ ENKCF BCDHGON n^nRST OU HVC BMFSMNCIlsvaCj WDH Sj HVC FCJGIHCFCK LESaGD MDDOENHGNJ UGFZ HVMH LFCLMFCK OF GIIECK GHI MEKGH FCLOFH_ r iU ICDEFGHGCI MFC FCJGIHCFCK LEFIEMNH HO BCDHGON PQRST OU HVC WDH\ GNKGDMHC Sj DVCD[ ZMF[ kVCHVCF HVC UGNMNDGMa IHMHCZCNHI OU HVC FCJGIHFMNH GNDaEKCK GN HVC UGaGNJ FCUaCDH HVC DOFFCDHGON OU MN CFFOF HO LFC`GOEIaj GIIECK UGNMNDGMa IHMHCZCNHI_ r iNKGDMHC Sj DVCD[ ZMF[ kVCHVCF MNj OU HVOIC CFFOF DOFFCDHGONI MFC FCIHMHCZCNHI HVMH FCfEGFCK M FCDO`CFj MNMajIGI OU GNDCNHG ClSMICK DOZLCNIMHGON FCDCG CK Sj MNj OU HVC FCJGIHFMNH I CvCDEHG C OUUGDCFI KEFGNJ HVC FCaC`MNH FCDO`CFj LCFGOK LEFIEMNH HO {Qn^_P^ylPRST_ r iNKGDMHC Sj DVCD[ ZMF[ kVCHVCF HVC FCJGIHFMNH GI M IVCaa DOZLMNj RMI KCUGNCK GN mEaC PQSlQ OU HVC qvDVMNJC WDHT_ pqB r bs t dVC MJJFCJMHC ZMF[CH MaEC OU HVC OHGNJ MNK NONl`OHGNJ CfEGHj VCaK Sj NONlMUUGaGMHCI OU HVC FCJGIHFMNH\ SMICK ON HVC DaOIGNJ LFGDC OU M IVMFC OU DOZZON IHOD[ ON ENC u^\ Q^Qn MI FCLOFHCK Sj dVC bMIKMf BHOD[ hMF[CH ON IEDV KMHC kMI MLLFOvGZMHCaj ]Q ^_ ZGaaGON_ dVGI DMaDEaMHGON KOCI NOH FCUaCDH M KCHCFZGNMHGON HVMH DCFHMGN LCFIONI MFC MUUGaGMHCI OU HVC FCJGIHFMNH UOF MNj OHVCF LEFLOIC_ WI OU hMFDV QP\ Q^Qo\ HVC NEZSCF OU OEHIHMNKGNJ IVMFCI OU HVC FCJGIHFMNH I DOZZON IHOD[\ LMF MaEC ]^_^^^P LCF IVMFC\ kMI ^\wo \oon_ 5 90 4137 219 + 8345 = 4 4 4194 OFHGONI OU HVC FCJGIHFMNH I yCUGNGHG C FOvj BHMHCZCNH UOF HVC Q^Qn WNNEMa hCCHGNJ OU BHOD[VOaKCFI HO SC UGaCK kGHV HVC _B_ BCDEFGHGCI MNK qvDVMNJC YOZZGIIGON LEFIEMNH HO mCJEaMHGON PnW kGHVGN PQ^ KMjI MUHCF HVC CNK OU HVC UGIDMa jCMF DO`CFCK Sj HVGI WNNEMa mCLOFH ON zOFZ P^lc MFC GNDOFLOFMHCK Sj FCUCFCNDC GN MFH iii\ iHCZI P^lPn OU HVGI WNNEMa mCLOFH ON zOFZ P^lc_
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 • shareholder letter icon 4/21/2025 Letter Continued (Full PDF)
 • stockholder letter icon 4/24/2023 NKTX Stockholder Letter
 • stockholder letter icon 4/25/2024 NKTX Stockholder Letter
 • stockholder letter icon More "Biotechnology" Category Stockholder Letters
 • Benford's Law Stocks icon NKTX Benford's Law Stock Score = 51


NKTX Shareholder/Stockholder Letter Transcript:









1234536  89   
    99 3       45  



012345  738347
7490 23247  815  
4 9 81 4  9   2772 1
             5 9          


81108*  4+  3  +0 70813  3   74932 1  !,      ! %-)      3 4  7490 23247  4 9 81 4  893      ! ,   
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3 817232 1  4+  3  +0 70813  3   74932 1  !,      ! %-)      3 4  7490 23247  4 9 81 4  893      ! ,       3 4  
3 817232 1  +4 2 5                                                 3                                           
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BCDEFGHGCI  FCJGIHCFCK  LEFIEMNH  HO  BCDHGON  PQRST  OU  HVC  WDHX  
3  0(   .  ( /   /0   
YOZZON  BHOD[\  ]^_^^^P  LMF    MaEC  LCF  IVMFC
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bMIKMf  gaOSMa  BCaCDH  hMF[CH
BCDEFGHGCI  FCJGIHCFCK  LEFIEMNH  HO  BCDHGON  PQRJT  OU  HVC  WDHX  1  (  
iNKGDMHC  Sj  DVCD[  ZMF[  GU  HVC  FCJGIHFMNH  GI  M  kCaal[NOkN  ICMIONCK  GIIECF\  MI  KCUGNCK  GN  mEaC  n^o  OU  HVC  BCDEFGHGCI  WDH_  pqB  r  bs  t
iNKGDMHC  Sj  DVCD[  ZMF[  GU  HVC  FCJGIHFMNH  GI  NOH  FCfEGFCK  HO  UGaC  FCLOFHI  LEFIEMNH  HO  BCDHGON  Pu  OF  PoRKT  OU  HVC  WDH_    pqB  r  bs  t
iNKGDMHC  Sj  DVCD[  ZMF[  kVCHVCF  HVC  FCJGIHFMNHX  RPT  VMI  UGaCK  Maa  FCLOFHI  FCfEGFCK  HO  SC  UGaCK  Sj  BCDHGON  Pu  OF  PoRKT  OU  HVC  BCDEFGHGCI  qvDVMNJC  WDH  OU  Pwun  KEFGNJ  HVC  LFCDCKGNJ  PQ  ZONHVI  ROF  UOF  
IEDV  IVOFHCF  LCFGOK  HVMH  HVC  FCJGIHFMNH  kMI  FCfEGFCK  HO  UGaC  IEDV  FCLOFHIT\  MNK  RQT  VMI  SCCN  IESxCDH  HO  IEDV  UGaGNJ  FCfEGFCZCNHI  UOF  HVC  LMIH  w^  KMjI_    pqB  t  bs  r
iNKGDMHC  Sj  DVCD[  ZMF[  kVCHVCF  HVC  FCJGIHFMNH  VMI  IESZGHHCK  CaCDHFONGDMaaj  C`CFj  iNHCFMDHG  C  yMHM  zGaC  FCfEGFCK  HO  SC  IESZGHHCK  LEFIEMNH  HO  mEaC  n^o  OU  mCJEaMHGON  Bld  R{QuQ_n^o  OU  HVGI  
DVMLHCFT  KEFGNJ  HVC  LFCDCKGNJ  PQ  ZONHVI  ROF  UOF  IEDV  IVOFHCF  LCFGOK  HVMH  HVC  FCJGIHFMNH  kMI  FCfEGFCK  HO  IESZGH  IEDV  UGaCIT_    pqB  t  bs  r
iNKGDMHC  Sj  DVCD[  ZMF[  kVCHVCF  HVC  FCJGIHFMNH  GI  M  aMFJC  MDDCaCFMHCK  UGaCF\  MN  MDDCaCFMHCK  UGaCF\  M  NONlMDDCaCFMHCK  UGaCF\  IZMaaCF  FCLOFHGNJ  DOZLMNj\  OF  MN  CZCFJGNJ  JFOkHV  DOZLMNj_  BCC  HVC  
KCUGNGHGONI  OU  |aMFJC  MDDCaCFMHCK  UGaCF\}  |MDDCaCFMHCK  UGaCF\}  |IZMaaCF  FCLOFHGNJ  DOZLMNj\}  MNK  |CZCFJGNJ  JFOkHV  DOZLMNj}  GN  mEaC  PQSlQ  OU  HVC  qvDVMNJC  WDH_
~MFJC  MDDCaCFMHCK  UGaCF
  r     
WDDCaCFMHCK  UGaCF
  r
bONlMDDCaCFMHCK  UGaCF
  t     
BZMaaCF  FCLOFHGNJ  DOZLMNj
  t
qZCFJGNJ  JFOkHV  DOZLMNj
t
iU  MN  CZCFJGNJ  JFOkHV  DOZLMNj\  GNKGDMHC  Sj  DVCD[  ZMF[  GU  HVC  FCJGIHFMNH  VMI  CaCDHCK  NOH  HO  EIC  HVC  CvHCNKCK  HFMNIGHGON  LCFGOK  UOF  DOZLajGNJ  kGHV  MNj  NCk  OF  FC`GICK  UGNMNDGMa  MDDOENHGNJ  
IHMNKMFKI  LFO`GKCK  LEFIEMNH  HO  BCDHGON  PuRMT  OU  HVC  qvDVMNJC  WDH_    t
iNKGDMHC  Sj  DVCD[  ZMF[  kVCHVCF  HVC  FCJGIHFMNH  VMI  UGaCK  M  FCLOFH  ON  MNK  MHHCIHMHGON  HO  GHI  ZMNMJCZCNH I  MIICIIZCNH  OU  HVC  CUUCDHG  CNCII  OU  GHI  GNHCFNMa  DONHFOa  O`CF  UGNMNDGMa  FCLOFHGNJ  ENKCF  
BCDHGON  n^nRST  OU  HVC  BMFSMNCIlsvaCj  WDH  Sj  HVC  FCJGIHCFCK  LESaGD  MDDOENHGNJ  UGFZ  HVMH  LFCLMFCK  OF  GIIECK  GHI  MEKGH  FCLOFH_    r
iU  ICDEFGHGCI  MFC  FCJGIHCFCK  LEFIEMNH  HO  BCDHGON  PQRST  OU  HVC  WDH\  GNKGDMHC  Sj  DVCD[  ZMF[  kVCHVCF  HVC  UGNMNDGMa  IHMHCZCNHI  OU  HVC  FCJGIHFMNH  GNDaEKCK  GN  HVC  UGaGNJ  FCUaCDH  HVC  DOFFCDHGON  OU  MN  CFFOF  
HO  LFC`GOEIaj  GIIECK  UGNMNDGMa  IHMHCZCNHI_  r  
iNKGDMHC  Sj  DVCD[  ZMF[  kVCHVCF  MNj  OU  HVOIC  CFFOF  DOFFCDHGONI  MFC  FCIHMHCZCNHI  HVMH  FCfEGFCK  M  FCDO`CFj  MNMajIGI  OU  GNDCNHG  ClSMICK  DOZLCNIMHGON  FCDCG  CK  Sj  MNj  OU  HVC  FCJGIHFMNH I  CvCDEHG  C  
OUUGDCFI  KEFGNJ  HVC  FCaC`MNH  FCDO`CFj  LCFGOK  LEFIEMNH  HO  {Qn^_P^ylPRST_  r
iNKGDMHC  Sj  DVCD[  ZMF[  kVCHVCF  HVC  FCJGIHFMNH  GI  M  IVCaa  DOZLMNj  RMI  KCUGNCK  GN  mEaC  PQSlQ  OU  HVC  qvDVMNJC  WDHT_    pqB  r  bs  t
dVC  MJJFCJMHC  ZMF[CH    MaEC  OU  HVC    OHGNJ  MNK  NONl`OHGNJ  CfEGHj  VCaK  Sj  NONlMUUGaGMHCI  OU  HVC  FCJGIHFMNH\  SMICK  ON  HVC  DaOIGNJ  LFGDC  OU  M  IVMFC  OU  DOZZON  IHOD[  ON    ENC  u^\  Q^Qn  MI  FCLOFHCK  Sj  
dVC  bMIKMf  BHOD[  hMF[CH  ON  IEDV  KMHC  kMI  MLLFOvGZMHCaj  ]Q  ^_    ZGaaGON_  dVGI  DMaDEaMHGON  KOCI  NOH  FCUaCDH  M  KCHCFZGNMHGON  HVMH  DCFHMGN  LCFIONI  MFC  MUUGaGMHCI  OU  HVC  FCJGIHFMNH  UOF  MNj  OHVCF  
LEFLOIC_
WI  OU  hMFDV  QP\  Q^Qo\  HVC  NEZSCF  OU  OEHIHMNKGNJ  IVMFCI  OU  HVC  FCJGIHFMNH I  DOZZON  IHOD[\  LMF    MaEC  ]^_^^^P  LCF  IVMFC\  kMI    ^\wo  \oon_
5 90 4137  219  +  8345  =    4 4 4194
OFHGONI  OU  HVC  FCJGIHFMNH I  yCUGNGHG  C  FOvj  BHMHCZCNH  UOF  HVC  Q^Qn  WNNEMa  hCCHGNJ  OU  BHOD[VOaKCFI  HO  SC  UGaCK  kGHV  HVC    _B_  BCDEFGHGCI  MNK  qvDVMNJC  YOZZGIIGON  LEFIEMNH  HO  mCJEaMHGON  PnW  
kGHVGN  PQ^  KMjI  MUHCF  HVC  CNK  OU  HVC  UGIDMa  jCMF  DO`CFCK  Sj  HVGI  WNNEMa  mCLOFH  ON  zOFZ  P^lc  MFC  GNDOFLOFMHCK  Sj  FCUCFCNDC  GN  MFH  iii\  iHCZI  P^lPn  OU  HVGI  WNNEMa  mCLOFH  ON  zOFZ  P^lc_




01234  67  86949
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