NKTR Drug delivery Company Message Board

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From: Arthur Radley	2/29/2012 9:40:53 AM
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Today's news helps remove the convertible debt issue that has held back the stock--now they need some good news on the pipeline to get the stock back into double digits............today's news has certainly helped!!! Nektar (NKTR) to Sell Royalties for CIMZIA, MIRCERA to Royalty Pharma for $124M 9:06 am ET 02/29/2012 - Street Insider Nektar Therapeutics (Nasdaq: NKTR) today announced that it agreed to sell to Royalty Pharma its royalties on future sales of CIMZIA , under Nektar's agreement with UCB Pharma, and MIRCERA , under Nektar's agreement with Roche. In consideration for the sale, Royalty Pharma will pay Nektar an aggregate cash payment of $124.0 million. Nektar intends to use the net proceeds of the transaction towards the repayment of its $215.0 million of convertible debt. For the twelve month period ended December 31, 2011, Nektar recognized $8.3 million in aggregate royalties from net sales of CIMZIA and MIRCERA .