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Nektar Therapeutics Reports Third Quarter 2011 Financial Results
Date:11/2/2011

SAN FRANCISCO, Calif., Nov. 2, 2011 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) today reported its financial results for the third quarter ended September 30, 2011.

Cash, cash equivalents, and investments at September 30, 2011 were $458.0 million as compared to $315.9 million at December 31, 2010.

Revenue for the third quarter of 2011 was $27.1 million, a decrease as compared to $37.9 million in the third quarter of 2010 primarily as a result of the completion as of December 31, 2010 of the amortization of the $125.0 million upfront payment received in 2009 from AstraZeneca for the NKTR-118 and NKTR-119 license agreement.  

"Nektar is highly focused on continuing to advance our important proprietary drug candidates in pain and cancer," said Howard W. Robin, President and Chief Executive Officer of Nektar. "AstraZeneca's Phase 3 KODIAC program for NKTR-118 for opioid-induced constipation is continuing on-track with AZ targeting regulatory filing in 2013.  We are targeting the start of the Phase 3 BEACON study for NKTR-102 in metastatic breast cancer before year-end.  NKTR-181, our novel opioid candidate to treat chronic pain, is moving rapidly through Phase 1 clinical development and we plan to announce topline data before year-end.  Finally, we plan to file an IND for NKTR-192, our new clinical candidate to treat acute pain, in the first quarter of 2012." 

Total operating costs and expenses in the third quarter of 2011 were $48.4 million, an increase compared to $44.2 million in the third quarter of 2010. The increase is primarily a result of higher development expenses related to the advancement of multiple programs in clinical development.  Research and development expense increased to $31.0 million in the third quarter of 2011 as compared to $27.7 million for the same quarter in 2010.  General and administra
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Related medicine technology :

1. Nektar Commences Phase 2 Clinical Development Program for NKTR-102 (PEG-Irinotecan) in Colorectal Cancer
2. Nektar Commences Phase 2 Trial of NKTR-118 (oral PEG-naloxol) Evaluating Efficacy and Safety as Treatment for Opioid-Induced Bowel Dysfunction
3. Nektar Terminates All Negotiations With Potential Partners for Inhaled Insulin; Increased Number of Lung Cancer Cases Observed in Ongoing Clinical Studies of Inhaled Insulin Patients
4. Nektar Therapeutics to Present Positive Data at Upcoming Medical and Scientific Meetings
5. Nektar to Webcast Presentation of Phase 1 Clinical Results for Lead Small Molecule PEG-Oncolytic Program, NKTR-102 (PEG-irinotecan)
6. Nektar Announces Expanded Phase 2 Clinical Development Plan For NKTR-102 (PEG-irinotecan)
7. Nektar Announces Positive Results from Phase 2 Study of Oral NKTR-118 in Patients with Opioid-Induced Constipation (OIC)
8. Nektar Therapeutics Reports Second Quarter 2009 Financial Results
9. Nektar Presents Data Demonstrating Favorable Oral Bioavailability and Drug-Drug Interaction Profile for NKTR-118
10. Nektar Therapeutics Promotes Lorianne Masuoka, M.D. to Senior Vice President and Chief Medical Officer
11. Nektar Presents New Preclinical Data on NKTR-181 at Anesthesiology 2010
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