Nektar Therapeutics - 1792 Exchange

Rating Overview

Nektar Therapeutics is Medium Risk.

Nektar Therapeutics is Medium Risk. The company often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. The company occasionally embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues at times. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Medium Risk
Discriminatory Philanthropy	Lower Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	Lower Risk
Political Actions	Lower Risk

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

Medium

Rationale:

Nektar Therapeutics integrates ESG into its business practices. From its Corporate Sustainability Statement: “Our values are guided by our stakeholders, including employees, patients and investors, and by standards applicable to the biotechnology industry, and reflect the importance of Environmental, Social and Governance (ESG) matters to our business” (1). However, the company has not canceled customers, suppliers, or vendors based on political views or religious beliefs (2).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

Lower

Rationale:

Nektar Therapeutics does not appear to discriminate against charitable organizations based on views or beliefs (1).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

High

Rationale:

Nektar Therapeutics appears to prioritize diversity over merit in its leadership composition. From its Corporate Governance Policy Statement: “the Board will direct the third party search firm to identify and include CEO and board candidates with gender and racial/ethnic diversity as part of the retained search” (1). The company does not provide viewpoint protections for its employees (2).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Nektar Therapeutics supports DEI within its business practices. From its Corporate Sustainability Statement: “We believe in the importance of inclusion and diversity not only within our company, but also within the overall scientific community” (1). The company supports ESG within its business practices. From its 2025 Proxy Statement: “The Nominating and Corporate Governance Committee: assist in the development and recommend to the board of directors, as appropriate, policies and programs with respect to ESG matters relevant to the company’s business” (2).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

Lower

Rationale:

Nektar Therapeutics has not used corporate funds to advance ideological causes, organizations, or policies (1).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

Lower

Rationale:

Nektar Therapeutics does not operate a PAC at this time and has not used its lobbying for ideological purposes (1)(2)(3).