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Nektar Therapeutics Reports Financial Results for the First Quarter of 2012
Date:5/2/2012

SAN FRANCISCO, May 2, 2012 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) today reported its financial results for the first quarter ended March 31, 2012.

Cash, cash equivalents, and investments at March 31, 2012 were $498.8 million as compared to $414.9 million at December 31, 2011.
This increase is primarily a result of the $124.0 million in proceeds received by Nektar for the sale of its Cimzia® and Mircera® royalty interests, which was completed during the first quarter of 2012.

"I am extremely pleased with Nektar's performance in the first quarter of 2012," said Howard W. Robin, President and Chief Executive Officer of Nektar. "We significantly strengthened our financial position with the sale of non-core royalties for $124 million with no equity dilution to our stockholders. We completed the Phase 1 clinical trials for NKTR-181, our novel opioid analgesic for chronic pain, and are targeting the start of the Phase 2 program in the middle of this year. In addition, we advanced our next new opioid candidate, NKTR-192 for acute pain, into Phase 1.  Finally, the FDA approved the eighth product enabled by Nektar technology, Affymax's OMONTYS® for anemia, showcasing the ability of our technology platform to continue to produce new product candidates in high value therapeutic areas."

The company also announced that the naloxegol clinical studies in opioid-induced constipation continue on-track for planned regulatory filings by AstraZeneca in mid-2013, and partner Baxter is targeting the start of Phase 3 development by year-end for BAX 855, a long-acting PEGylated Factor VIII therapeutic candidate for hemophilia A. 

Revenue for the first quarter of 2012 was $17.9 million, an increase versus $11.3 million in the first quarter of 2011. The increase was primarily due to higher product sales during the quarter.  T
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Related medicine technology :

1. Nektar to Announce Financial Results for the First Quarter of 2012 on Wednesday, May 2, 2012, After Close of U.S.-Based Financial Markets
2. Nektar Consolidates Research at Its State-of-the-Art R&D Center Located in San Francisco at Mission Bay
3. Nektar Therapeutics Reports Fourth Quarter and Year-End 2011 Financial Results
4. Nektar Therapeutics Announces Agreement to Sell CIMZIA® and MIRCERA® Royalties to Royalty Pharma for $124 Million
5. Nektar Presents Positive Proof-of-Concept Clinical Data for Its New Opioid Molecule, NKTR-181, at American Academy of Pain Medicines 28th Annual Meeting
6. Nektar to Announce Financial Results for the Fourth Quarter and Year-End of 2011 on Wednesday, February 29, 2012, After Close of U.S.-Based Financial Markets
7. Positive Data for Nektars New Mu-Opioid Analgesic Molecule to Treat Acute Pain Highlighted at Neuroscience 2011
8. Nektar Therapeutics Reports Third Quarter 2011 Financial Results
9. Nektar to Announce Financial Results for the Third Quarter of 2011 on Wednesday, November 2, 2011, After Close of U.S.-Based Financial Markets
10. Nektar Therapeutics President and CEO, Howard W. Robin, to Present at the UBS 2011 Global Life Sciences Conference in New York City
11. Nektar Initiates Second Phase 1 Clinical Study Evaluating NKTR-181, A Novel Opioid Molecule, for Treatment of Chronic Pain
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