Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information for Common Stock
Our common stock began trading on the Nasdaq Global Select Market under the symbol “NK” on July 28, 2015. Prior to that date, there was no public trading market for our common stock.
Holders of Record
As of March 3, 2021, we had 30 holders of record of our common stock. The actual number of stockholders is greater than the number of record holders and includes stockholders who are beneficial owners but whose shares are held in street name by brokers and other nominees. This number of holders of record also does not include stockholders whose shares may be held in trust or by other entities.
Dividend Policy
To date, we have not declared or paid any cash dividends. We currently intend to retain all available funds and any future earnings for use in the operation of our business and do not anticipate paying any dividends on our common stock in the foreseeable future. Any future determination to declare dividends will be made at the discretion of our board of directors and will depend on, among other factors, our financial condition, operating results, capital requirements, general business conditions and other factors that our board of directors may deem relevant.
Securities Authorized for Issuance Under Our Equity Compensation Plans
Information regarding our equity compensation plans is incorporated by reference to Item 12, “ Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters ” of Part III of this Annual Report.
Recent Sales of Unregistered Securities
None.
Repurchases of Equity Securities by the Issuer
We did not repurchase any shares of our common stock during the three months ended December 31, 2020. At December 31, 2020, $18.3 million remained authorized for repurchase under our stock repurchase program. For additional information regarding our stock repurchase program, see Note 11, Stockholders Equity , of the “Notes to Consolidated Financial Statements” included in Part II, Item 8 of this Annual Report.
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Stock Performance Graph
The following graph compares the cumulative total return on our common stock, the Russell 2000 Index, and the Nasdaq Biotechnology Index over the five-year period ending December 31, 2020. The graph assumes that $100 was invested in our common stock and in each of the comparative indices as of the market close on December 31, 2015. The returns shown are based on historical results and are not indicative of, or intended to forecast, future performance of our common stock or the comparative indices. This performance graph shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or the Exchange Act, or incorporated by reference into any filing of NantKwest, Inc. under the Securities Act of 1933, as amended, or the Securities Act.
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Item 6. Selected Financial Data.
The following selected consolidated financial data should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” the consolidated financial statements and related notes, and other financial information included in this Annual Report on Form 10‑K, or Annual Report.
The selected consolidated statements of operations data for the years ended December 31, 2020, 2019 and 2018 and the selected consolidated balance sheet data as of December 31, 2020 and 2019 are derived from our audited consolidated financial statements included elsewhere in this Annual Report. The following selected consolidated statements of operations data for the years ended December 31, 2017 and 2016 and the selected consolidated balance sheet data as of December 31, 2018, 2017 and 2016 are derived from our audited consolidated financial statements not included in this Annual Report.
For the Year Ended December 31,
(In thousands, except share and per share amounts)
2020
2019
2018
2017
2016
Revenue
$
111
$
43
$
47
$
45
$
44
Operating expenses:
Research and development (including
amounts with related parties)
64,483
49,785
55,718
42,044
29,153
Selling, general and administrative
(including amounts with related parties)
27,254
18,065
42,718
57,121
95,391
Total operating expenses
91,737
67,850
98,436
99,165
124,544
Loss from operations
(91,626
)
(67,807
)
(98,389
)
(99,120
)
(124,500
)
Other income (expense):
Investment income, net
366
1,642
1,857
2,665
3,097
Interest expense (including amounts
with related parties)
(41
)
(19
)
(433
)
(618
)
(66
)
Other (expense) income, net (including
amounts with related parties)
(1,077
)
298
236
157
88
Total other (expense) income
(752
)
1,921
1,660
2,204
3,119
Loss before income taxes
(92,378
)
(65,886
)
(96,729
)
(96,916
)
(121,381
)
Income tax (expense) benefit
(5
)
97
503
493
572
Net loss
$
(92,383
)
$
(65,789
)
$
(96,226
)
$
(96,423
)
$
(120,809
)
Net loss per share:
Basic and diluted
$
(0.89
)
$
(0.70
)
$
(1.22
)
$
(1.20
)
$
(1.47
)
Weighted average number of shares
during the period:
Basic and diluted
103,550,936
94,210,087
79,132,220
81,979,005
81,979,005
As of December 31,
(In thousands)
2020
2019
2018
2017
2016
Balance Sheet Data:
Cash and cash equivalents
$
11,441
$
15,508
$
16,821
$
23,872
$
8,083
Working capital
50,847
44,198
61,512
111,590
192,592
Total assets
151,858
143,123
181,950
250,440
317,496
Total liabilities
34,465
22,444
35,944
31,596
24,078
Total stockholders' equity
117,393
120,679
146,006
218,844
293,418
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