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

ollaborative agreement, net, is comprised of

the following (in thousands):

Three and Twelve-Months

Ended December 31, 2007

Pfizer termination settlement

payment received 135,000

Exubera Inhaler Manufacturing and

Supply Agreement Termination

Tech Group (13,765)

Bespak (18,598)

102,637

Settlement of assets and

liabilities related to Pfizer (23,459)

Gain on termination of

collaborative agreements, net 79,178

(3) For the three-months ended December 31, 2007, there were

approximately 578 dilutive shares which did not change earnings per

share.

NEKTAR THERAPEUTICS

CONSOLIDATED BALANCE SHEETS

(In thousands)

(unaudited)

ASSETS December 31, 2007 December 31, 2006(1)

Current assets:

Cash and cash equivalents $76,293 $63,760

Short-term investments 406,060 394,880

Accounts receivable, net of

allowance 21,637 47,148

Inventory 12,187 14,656

Other current assets 7,106 14,595

Total current assets 523,283 535,039

Long-term investments - 8,337

Property and equipment, net
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SOURCE Nektar Therapeutics
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