NEKTAR THERAPEUTICS ANNOUNCES PRIVATE OFFERING OF CONVERTIBLE SUBORDINATED NOTES

Nektar Therapeutics (Nasdaq:NKTR) today announced it had agreed to sell $275 million aggregate principal amount of its 3.25% convertible subordinated notes due 2012 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The offering is expected to close on September 28, 2005, subject to customary closing conditions. Nektar has also granted the initial purchasers an option to purchase up to an additional $40 million in principal amount of notes to cover over-allotments.

Black Enterprise (http://www.blackenterprise.com/yb/ybopen.asp?section=ybbf&story_id=82057827&ID=blackenterprise)