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Nektar Therapeutics Reports First Quarter 2011 Financial Results
Date:4/27/2011

0

(1)Current assets:Cash and cash equivalents

$
22,485$
7,755Short-term investments

496,157298,177Accounts receivable

2,16025,102Inventory

11,7127,266Other current assets

6,8595,679Total current assets

539,373353,979Property and equipment, net

87,62889,773Goodwill

76,50176,501Other assets

976972Total assets

$
704,478$
521,225LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable

$
3,481$
7,194Accrued compensation

7,6809,252Accrued expenses

9,2318,540Accrued clinical trial expenses

13,64912,144Deferred revenue, current portion

19,97420,584Other current liabilities

4,8656,394Total current liabilities

58,88064,108Convertible subordinated notes

214,955214,955Capital lease obligations

16,44817,014Deferred revenue

122,818124,763Deferred gain

3,9344,152Other long-term liabilities

6,2055,571Total liabilities

423,240430,563Commitments and contingenciesStockholders' equity:Preferred stock

--Common stock

119Capital in excess of par value

1,580,9901,354,232Accumulated other comprehensive income

818968Accumulated deficit

(1,300,581)(1,264,547)Total stockholders' equity

281,23890,662Total liabilities and stockholders' equity

$
704,478$
521,225(1) The consolidated balance sheet at December 31, 2010 has been derived from the audited financial statements at that date but does not include all of the information and notes required by generally accepted accounting principles in the United States for complete financial statements. NEKTAR THERAPEUTICSCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share information)(unaudited)Three Months Ended March 31, 20112010Revenue:   Product sales and royalties

$
4,793$  3,584   License, collaboration, and other

6,50629,653Total revenue'/>"/>

SOURCE Nektar Therapeutics
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