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

99Capital in excess of par value

1,354,2321,327,942Accumulated other comprehensive income

9681,025Accumulated deficit

(1,264,547)(1,226,609)Total stockholders' equity

90,662102,367Total liabilities and stockholders' equity

$
521,225$
575,518(1) The consolidated balance sheet at December 31, 2009 has been derived from the audited financial statements at that date but does not include all of the information and notes required by generally accepted accounting principles in the United States for complete financial statements. NEKTAR THERAPEUTICSCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share information)(Unaudited)Three Months EndedTwelve Months EndedDecember 31,December 31,2010200920102009Revenue:Product sales and royalties

$  12,699$ 10,832$  34,667$
35,288License, collaboration and other

32,61528,177124,37236,643Total revenue

45,31439,009159,03971,931Operating costs and expenses:Cost of goods sold

10,2378,80925,66730,948Research and development

31,45524,713108,06595,109General and administrative

11,58510,98240,98641,006Impairment of long-lived assets

12,576-12,576-Total operating costs and expenses

65,85344,504187,294167,063Loss from operations

(20,539)(5,495)(28,255)(95,132)Non-operating income (expense):Interest income

3205281,5453,688Interest expense

(2,488)(2,963)(11,174)(12,176)Other income, net

391480827848Total non-operating expense

(1,777)(1,955)(8,802)(7,640)Loss before provision (benefit) for income taxes

(22,316)(7,450)(37,057)(102,772)Provision (benefit) for income taxes

264226881(253)Net loss

$ (22,580)$ (7,676)$ (37,938)$ (102,519)Basic and diluted net loss per share

$
(0.24)$   (0.08)$
(0.40)$
(1.11)Weighted average shares outstanding used incomputing basic and diluted net loss pershare

94,39893,21994,07992,772NEKTAR THERA
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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
3. Nektar Therapeutics President and CEO, Howard W. Robin, to Present at the 29th Annual J.P. Morgan Healthcare Conference in San Francisco, CA
4. Nektar Therapeutics Reports Third Quarter 2010 Financial Results
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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