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Nektar Therapeutics Reports Financial Results for the First Quarter of 2013
Date:5/9/2013

-License, collaboration, and other

6,4767,827Total revenue

23,00417,949Operating costs and expenses:Cost of goods sold

11,6618,707Research and development

45,61835,085General and administrative

11,12910,414Impairment of long-lived assets

-1,675Total operating costs and expenses

68,40855,881Loss from operations

(45,404)(37,932)Non-operating income (expense):Interest income 

314632Interest expense

(4,645)(2,548)Non-cash interest expense on liability related to sale of future royalties

(5,543)(1,785)Other income (expense), net

427660Total non-operating expense, net

(9,447)(3,041)Loss before provision for income taxes

(54,851)(40,973)Provision for income taxes

212124Net loss

$ (55,063)$ (41,097)Basic and diluted net loss per share

$
(0.48)$
(0.36)Weighted average shares used in computing basic and diluted net loss per share

115,309114,531 NEKTAR THERAPEUTICSCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)(Unaudited)Three Months Ended March 31,20132012Cash flows from operating activities:Net loss 

$(55,063)$ (41,097)Adjustments to reconcile net loss to net cash used in operating activities:Non-cash interest expense on liability related to sale of future royalties 

5,5431,785Non-cash royalty revenue related to sale of future royalties

(4,393)-Stock-based compensation 

4,2454,234Depreciation and amortization 

3,6283,510Impairment of long-lived assets 

-1,675Other non-cash transactions

139295Changes in operating assets and liabilities:Accounts receivable 

2,158(5,865)Inventory

(112)(1,452)Other assets 

3,8444,305Accounts payable 

1,355(1,290)Accrued compensation 

179(4,620)Accrued expenses 

(1,130)1,094Accrued clinical tri
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SOURCE Nektar Therapeutics
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