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Nektar Announces Third Quarter 2005 Financial Results.

Article Excerpt
SAN CARLOS, Calif. -- Nektar Therapeutics (Nasdaq:NKTR):

--Exubera(R) receives positive recommendations in Europe and US; FDA extends review period by 3 months;

--Two proprietary products in clinic address unmet need for prevention of lung infections;

--New high-value Baxter agreement to develop PEGylated therapeutic forms of blood clotting proteins;

--Chiron and Nektar advance TIP to Phase III;

--Aerogen acquisition broadens Nektar pulmonary leadership;

--Company strengthens balance sheet.

Nektar Therapeutics (Nasdaq:NKTR) announced today its financial results for the third quarter ended September 30, 2005.

The Company reported total revenue of $36.4 million for the three months ended September 30, 2005 compared to $28.5 million for the three months ended September 30, 2004. In the third quarter of 2005, product and royalty revenue was $8.5 million compared to $5.0 million in the third quarter of 2004, and contract revenue totaled $23.7 million compared to $23.6 million in the third quarter of 2004. Nektar also reported that in the third quarter of 2005 the Company received $4.2 million from Pfizer for Exubera(R) (inhaled insulin) commercialization readiness for reimbursement of certain agreed upon operating costs related to the Exubera drug powder manufacturing facility in preparation for commercial production.

Nektar reported a net loss of $23.8 million or $(0.28) per share for the three months ended September 30, 2005 compared to a net loss of $20.5 million or $(0.24) per share for the three months ended September 30, 2004.

For the nine months ended September 30, 2005, Nektar reported total revenue of $93.4 million compared to $82.9 million for the nine months ended September 30, 2004. For the nine months ended September 30, 2005, product and royalty revenue was $20.3 million compared to $15.7 million for the nine months ended September 30, 2004, and contract research revenue totaled $62.7 million compared to $67.2 million for the nine months ended September 30, 2004. Exubera commercialization readiness totaled $10.3 million for the first nine...

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