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Nektar Therapeutics Announces Second Quarter 2008 Results
Date:8/6/2008

p>Loss from operations (33,358) (27,988) (75,247) (53,957)

Non-operating income (expense):

Interest income 3,190 5,452 8,203 10,925

Interest expense (3,929) (4,702) (7,847) (9,635)

Other expense, net 769 (22) 1,071 (16)

Total non-operating income 30 728 1,427 1,274

Loss before provision for income

taxes (33,328) (27,260) (73,820) (52,683)

Provision for income taxes 47 250 260 500

Net loss $(33,375) $(27,510) $(74,080) $(53,183)

Basic and diluted net loss per

share $(0.36) $(0.30) $(0.80) $(0.58)

Shares used in computing basic and

diluted net loss per share 92,400 91,804 92,365 91,630

NEKTAR THERAPEUTICS

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

June 30, December 31,

2008 2007

(unaudited) (1)

ASSETS

Current assets:

Cash and cash equivalents $31,829 $76,293

Short-term investments 342,078 406,060

Accounts receivable, net of

allowance 12,067 21,637

Inventory 10,166 12,187

Other current assets 13,988 7,106

Total current assets 410,128 523,283

Property and equipment, net 114,229 114,420
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SOURCE Nektar Therapeutics
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