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Nektar Therapeutics Announces Fourth Quarter and Year-End 2007 Financial Results
Date:2/27/2008

ailed 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.

Tim Warner, 650-283-4915 (investors)

twarner@nektar.com

Stephan Herrera, 415-488-7699 (investors)

sherrera@nektar.com

Jennifer Ruddock, 650-631-4954 (media)

jruddock@nektar.com

NEKTAR THERAPEUTICS

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share information)

(unaudited)

Three-Months Ended Twelve-Months Ended

December 31, December 31,

2007 2006 2007 2006

Revenue:

Product sales and royalties $26,702 $55,551 $180,755 $153,556

Contract research 38,489 12,053 85,925 56,303

Exubera commercialization

readiness 582 2,300 6,347 7,859

Total revenue 65,773 69,904 273,027 217,718

Operating costs and expenses:

Cost of goods sold 17,387 40,100 137,696 113,921

Cost of idle Exubera

manufacturing capacity 6,314 - 6,314 -

Exubera commercialization

readiness costs 347 1,042 3,507 4,168

Research and development
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SOURCE Nektar Therapeutics
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