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Nektar Therapeutics Announces Third Quarter 2007 Financial Results
Date:11/7/2007

SAN CARLOS, Calif., Nov. 7 /PRNewswire-FirstCall/ -- Nektar Therapeutics (Nasdaq: NKTR) announced today the company's financial results for the third quarter that ended September 30, 2007.

Revenue totaled $56.3 million in the third quarter of 2007 compared to $58.6 million in the third quarter of 2006. For the nine months ended September 30, 2007, Nektar reported total revenue of $207.3 million compared to $147.8 million in the same period in 2006.

Cash, cash equivalents, and short-term investments were $452.6 million at September 30, 2007 compared to $406.8 million at June 30, 2007.

Nektar reported a net loss of $18.6 million or $0.20 per share in the third quarter of 2007 compared to a net loss of $19.6 million or $0.22 per share in the same period of 2006.

For the nine months ended September 30, 2007, net loss was $71.8 million or $0.78 per share compared to a net loss of $115.9 million or $1.29 per share in the same period in 2006.

"We've made great progress reshaping Nektar this year," said Howard W. Robin, president and chief executive officer of Nektar. "We realigned the company's business and research activities around our PEGylation and pulmonary technology platforms, built a strong executive team, signed a new strategic partnership with Bayer, and are moving two proprietary programs into Phase 2 clinical trials. Finally, for the first time in Nektar's history, we expect almost no operating cash burn for the year."

Mr. Robin will host a conference call today for analysts and investors beginning at 2:00 p.m. Pacific time to discuss the company's performance. This conference call will be available via webcast and can be accessed through a link that is posted on the Investor R
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SOURCE Nektar Therapeutics
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