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Nektar Therapeutics Reports Third Quarter 2010 Financial Results

2NEKTAR THERAPEUTICSCONDENSED CONSOLIDATED BALANCE SHEETS(In thousands)(Unaudited)ASSETSSeptember 30, 2010December 31, 2009 (1)Current assets:Cash and cash equivalents

49,597Short-term investments

290,396346,614Accounts receivable


11,4606,471Other current assets

6,1196,183Total current assets

413,666Property and equipment, net


76,50176,501Other assets

1,8557,088Total  assets

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

3,066Accrued compensation

10,55210,052Accrued expenses

12,3524,354Accrued clinical trial expenses

12,75914,167Deferred revenue, current portion

40,232115,563Interest payable

581,805Other current liabilities

4,4764,009Total current liabilities

53,016Convertible subordinated notes

214,955214,955Capital lease obligations

17,40218,800Deferred revenue

69,03376,809Deferred gain

4,3715,027Other long-term liabilities

4,9364,544Total liabilities

473,151Commitments and contingenciesStockholders' equity:Preferred stock

-Common stock

99Capital in excess of par value

1,347,8001,327,942Accumulated other comprehensive income

1,1051,025Accumulated deficit

(1,241,967)(1,226,609)Total stockholders' equity

2,367Total liabilities and stockholders' equity

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

SOURCE Nektar Therapeutics
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