Nektar Therapeutics Announces Fourth Quarter and Year-End 2007 Financi... (39310 42521 153575 149381 ...)

Nektar Therapeutics Announces Fourth Quarter and Year-End 2007 Financial Results

Date:2/27/2008

39,310 42,521 153,575 149,381

General and administrative 13,997 17,441 56,336 78,319

Impairment of long lived

assets(1) 28,396 8,254 28,396 9,410

Litigation Settlement 1,583 - 1,583 17,710

Amortization of other intangible

assets 236 708 946 4,039

Gain on termination of

collaborative agreements,

net (2) (79,178) - (79,178) -

Total operating costs and expenses 28,392 110,066 309,175 376,948

Income (Loss) from operations 37,381 (40,162) (36,148) (159,230)

Interest income 5,757 6,330 22,201 23,646

Interest expense (4,230) (5,458) (18,638) (20,793)

Other Income 944 1,263 1,133 2,444

Income (Loss) before provision for

income taxes 39,852 (38,027) (31,452) (153,933)

Provision for income taxes 809 828 1,309 828

Net income (loss) $39,043 $(38,855) $(32,761) $(154,761)

Basic and diluted net earnings

(loss) per share $0.42 $(0.43) $(0.36) $(1.72)

Shares used in computing basic and

diluted net earnings (loss) per

share (3) 92,211 90,499 91,876 89,789

Notes to Consolidated Statements of Operations

(1) In Q4, the company conducted an evaluation and determined that

uncertainties exist regarding the use of certain equipment and

facilities related to Exubera manufacturing. As a result, Nektar

recorded a non-cash impairment charge in Q4 of $28.4 million related

to the write-down of these assets.

(2) Gain on termination of c
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Nektar Therapeutics Announces Fourth Quarter and Year-End 2007 Financi...(39310 42521 153575 149381 ...),Health