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Nektar Therapeutics Reports Fourth Quarter and Year End 2010 Financial Results
Date:3/1/2011

andidates or complex commercial agreements; and (vi) certain other important risks and uncertainties set forth in Nektar's Annual Report on Form 10-K and Current Report on Form 8-K filed with the Securities and Exchange Commission on March 1, 2011.  Actual results could differ materially from the forward-looking statements contained in this press release.  Nektar undertakes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise.

Nektar Investor Inquiries:Jennifer Ruddock/Nektar Therapeutics(415) 482-5585Susan Noonan/SA Noonan Communications, LLC(212) 966-3650Nektar Media Inquiries:Karen Bergman/BCC Partners(650) 575-1509Michelle Corral/BCC Partners(415) 794-8662NEKTAR THERAPEUTICSCONDENSED CONSOLIDATED BALANCE SHEETS(In thousands)(Unaudited)ASSETSDecember 31, 2010December 31, 2009

(1)Current assets:Cash and cash equivalents

$
7,755$
49,597Short-term investments

298,177346,614Accounts receivable

25,1024,801Inventory

7,2666,471Other current assets

5,6796,183Total current assets

353,979413,666Property and equipment, net

89,77378,263Goodwill

76,50176,501Other assets

9727,088Total  assets

$
521,225$
575,518LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable

$
7,194$
3,066Accrued compensation

9,25210,052Accrued expenses

8,5404,354Accrued clinical trial expenses

12,14414,167Deferred revenue, current portion

20,584115,563Other current liabilities

6,3945,814Total current liabilities

64,108153,016Convertible subordinated notes

214,955214,955Capital lease obligations

17,01418,800Deferred revenue

124,76376,809Deferred gain

4,1525,027Other long-term liabilities

5,5714,544Total liabilities

430,563473,151Commitments and contingenciesStockholders' equity:Preferred stock

--Common stock
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SOURCE Nektar Therapeutics
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1. Nektar Therapeutics President and CEO Howard W. Robin to Present at the 31st Annual Cowen and Company Healthcare Conference in Boston
2. Nektar to Announce Financial Results for the Fourth Quarter and Year-End of 2010 on Tuesday, March 1, 2011, After Close of U.S.-Based Financial Markets
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5. Nektar to Announce Financial Results for the Third Quarter of 2010 on Thursday, November 4, 2010, After Close of U.S.-Based Financial Markets
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