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Nektar Therapeutics Reports First Quarter 2009 Financial Results
Date:5/6/2009

SAN CARLOS, Calif., May 6 /PRNewswire-FirstCall/ -- Nektar Therapeutics (Nasdaq: NKTR) today reported its financial results for the first quarter ended March 31, 2009.

Net loss for the quarter ended March 31, 2009 was $31.8 million or $0.34 per share, compared to net loss of $40.7 million or $0.44 per share in the first quarter of 2008.

Nektar made improvements to its operating efficiencies as compared to a year ago. Total operating costs and expenses were down 35% to $40.0 million in the first quarter of 2009 as compared to $61.9 million in the first quarter of 2008.

"Nektar continues to make great progress advancing our clinical pipeline and delivering on our objectives in the first quarter of 2009," stated Howard W. Robin, President and Chief Executive Officer of Nektar. "Our recently reported positive Phase 2 data for NKTR-118 provides the first clinical validation of our advanced polymer conjugate technology with oral small molecule drugs. With a robust clinical pipeline and a proven technology platform, Nektar is well-positioned to enter into strategic, high-value partnerships and capitalize on multiple new product opportunities generated by our platform."

Research and development expense was $23.9 million in the first quarter of 2009 as compared to $37.4 million for the same quarter in 2008. Included in the $23.9 million of overall research and development spending is approximately $13.5 million of investment in Nektar preclinical and clinical development programs.

Revenue for the three month period ended March 31, 2009 was $9.7 million compared to revenue of $20.0 million in the first quarter of 2008. This decrease in revenue is primarily the result of lower contract research and manufacturing revenues resulting from the sale of cert
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SOURCE Nektar Therapeutics
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4. Drs. John Patton of Nektar, Igor Gonda of Aradigm, Tomas Landh of Novo Nordisk, Chris Rhodes of Amylin to Speak at iiBIGs Plenary Panel in Vegas
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