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

approximately 81 dilutive shares which did not change earnings per share. NEKTAR THERAPEUTICS CONSOLIDATED BALANCE SHEETS (In thousands) (unaudited) December 31, December 31, ASSETS 2008 2007 (1) Current assets: Cash and cash equivalents $155,584 $76,293 Short-term investments 223,410 406,060 Accounts receivable, net of allowance 11,161 21,637 Inventory 9,319 12,187 Other current assets 6,746 7,106 Total current assets 406,220 523,283 Property and equipment, net 73,578 114,420 Goodwill 76,501 78,431 Other assets 4,237 8,969 Total assets $560,536 $725,103 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $13,832 $3,589 Accrued compensation 11,570 14,680 Accrued clinical trial expenses 17,622 2,895 Accrued expenses to contract manufacturers - 40,444 Accrued expenses 9,923 9,551 Deferred revenue, current portion 10,010 19,620 Other current liabilities 5,417 7,313 Total current liabilities 68,374 98,092 Convertible subordinated notes 2
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