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

an anticipated patient enrollment, drug manufacturing challenges, changing standards of care, clinical trial design, clinical outcomes, or delay or failure in obtaining regulatory approval in one or more important markets; (iii) the company's patent applications for its proprietary or partner product candidates may not issue, patents that have issued may not be enforceable, or intellectual property licenses from third parties may be required in the future; and (iv) the outcome of any future intellectual property or other litigation related to the company's proprietary product candidates or complex commercial agreements. Other important risks and uncertainties are detailed in the company's reports and other filings with the Securities and Exchange Commission, including its most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K. Actual results could differ materially from the forward-looking statements contained in this press release. The company undertakes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise.

     Jennifer Ruddock, 650-631-4954
     Nektar Therapeutics

     Susan Noonan, 212-966-3650
     SAN Group



                             NEKTAR THERAPEUTICS
                    CONSOLIDATED STATEMENTS OF OPERATIONS
                 (In thousands, except per share information)
                                 (unaudited)

                                       Three-Months Ended  Twelve-Months Ended
                                           December 31,       December 31,
                                          2008     2007      2008      2007
    Revenue:
       Product sales and royalties       $12,400  $26,702   $41,255  $180,755
       Collaboration and other            15,952   39,071    48,930    92,272
    Total revenue                         28,352   65,773    90,185   273,027

    Operating costs and expenses:
 
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