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Nektar Therapeutics Reports Fourth Quarter and Year-End 2008 Financial Results
Date:2/24/2009

crease in revenue is primarily the result of lower product manufacturing revenues due to the termination of the company's inhaled insulin collaboration with Pfizer in late 2007.

Research and development expense was $154.4 million in 2008 as compared to $153.6 million for 2007. Included in the $154.4 million of overall research and development spending is approximately $82.0 million of new investments in Nektar preclinical and clinical development programs.

Nektar has also continued to make improvements to its operating efficiencies as compared to a year ago. For the twelve months ended December 31, 2008, the company's general and administrative expense was $51.5 million as compared to $57.3 million for the same period a year ago.

Net income for the quarter ended December 31, 2008 was $76.8 million or $0.83 per share, compared to net income of $39.0 million or $0.42 per share in the fourth quarter of 2007. For the year 2008, the company reported a net loss of $34.3 million or $0.37 per share, compared to a net loss of $32.8 million or $0.36 per share for 2007.

Conference Call to Discuss Fourth Quarter and Year-End 2008 Financial Results

The company also announced that due to scheduling considerations, the conference call to review results will now be held on March 2, 2009 at 2 PM Pacific Time. Details are below:

Howard Robin, president and chief executive officer, and John Nicholson, chief financial officer, will host a conference call beginning at 5:00 p.m. Eastern Time (ET)/2:00 p.m. Pacific Time (PT) on Monday, March 2, 2009.

A live audio-only Webcast of the conference call can be accessed through a link that is posted on the home page and Investor Relations section of the Nektar website: http://www.nektar.com.

        To access the conference call, follow these instructions:
  
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