<SEC-DOCUMENT>0001615774-16-005720.txt : 20160601
<SEC-HEADER>0001615774-16-005720.hdr.sgml : 20160601
<ACCEPTANCE-DATETIME>20160601082236
ACCESSION NUMBER:		0001615774-16-005720
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160530
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20160601
DATE AS OF CHANGE:		20160601

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEKTAR THERAPEUTICS
		CENTRAL INDEX KEY:			0000906709
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				943134940
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24006
		FILM NUMBER:		161687965

	BUSINESS ADDRESS:	
		STREET 1:		455 MISSION BAY BOULEVARD SOUTH
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94158
		BUSINESS PHONE:		4154825300

	MAIL ADDRESS:	
		STREET 1:		455 MISSION BAY BOULEVARD SOUTH
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94158

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INHALE THERAPEUTIC SYSTEMS INC
		DATE OF NAME CHANGE:	19980723

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INHALE THERAPEUTIC SYSTEMS
		DATE OF NAME CHANGE:	19940303
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>s103378_8k.htm
<DESCRIPTION>8-K
<TEXT>
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<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Washington,
D.C.&nbsp;20549</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
8-K</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CURRENT
REPORT</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pursuant
to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
of report&nbsp;(Date of earliest event reported): May 30, 2016</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NEKTAR
THERAPEUTICS</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Exact
Name of Registrant as Specified in Charter)</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; padding-right: 0.8pt; font: 10pt/115% Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 36%; padding-right: 0.8pt; font: 10pt/115% Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>0-24006</B></FONT></TD>
    <TD STYLE="width: 32%; padding-right: 0.8pt; font: 10pt/115% Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>94-3134940</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(State
        or Other Jurisdiction</B></FONT></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>of
        Incorporation)</B></FONT></P></TD>
    <TD><P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Commission</B></FONT></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>File
        Number)</B></FONT></P></TD>
    <TD><P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(IRS
        Employer</B></FONT></P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Identification
        No.)</B></FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>455
Mission Bay Boulevard South</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>San
Francisco, California 95128</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Address
of Principal Executive Offices and Zip Code)</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registrant&rsquo;s
telephone number, including area code: (415)&nbsp;482-5300</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&#9744;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&#9744;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&#9744;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&#9744;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT>&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
1.01.&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
May 30, 2016 (the &ldquo;Effective Date&rdquo;), Nektar Therapeutics, a Delaware corporation (&ldquo;Nektar&rdquo;), entered into
a Collaboration and License Agreement (the &ldquo;Agreement&rdquo;) with Daiichi Sankyo Europe GmbH, a German limited liability
company (&ldquo;Daiichi&rdquo;).&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the terms of the Agreement, Nektar granted Daiichi exclusive commercialization rights in the European Economic Area, Switzerland,
and Turkey (the &ldquo;European Territory&rdquo;) to Nektar&rsquo;s proprietary product candidate ONZEALD&trade; (etirinotecan
pegol), which is also known as NKTR-102, a long-acting topoisomerase&nbsp;I inhibitor in clinical development for the treatment
of adult patients with advanced breast cancer who have brain metastases (&ldquo;BCBM&rdquo;). Nektar retains all rights to ONZEALD
in all countries outside the European Territory including the United States. </FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the terms of the Agreement and in consideration for the exclusive commercialization rights in the European Territory, Daiichi
will pay Nektar a $20 million up-front payment and Nektar will be eligible to receive up to an aggregate of $60 million in regulatory
and commercial milestones, including a $10 million payment upon the first commercial sale of ONZEALD following conditional approval
by the European Medicines Agency (&ldquo;EMA&rdquo;) and the European Commission (the &ldquo;EC&rdquo;), a $25 million payment
upon the first commercial sale following final marketing authorization approval of ONZEALD by the EMA and EC, and a $25 million
sales milestone upon Daiichi&rsquo;s first achievement of a certain specified annual net sales target. Nektar is also eligible
to receive a 20% royalty on net sales of ONZEALD by Daiichi in all countries in the European Territory except for net sales in
Turkey where Nektar is eligible to receive a 15% royalty. Nektar&rsquo;s right to receive royalties (subject to certain adjustments)
in any particular country will expire, on a country-by-country basis upon the later of (a) a specified period of time after the
first commercial sale of the product in that country or (b) the expiration of patent rights in that particular country. The parties
will enter into a supply agreement whereby Nektar will be responsible for supplying Daiichi with its requirements for ONZEALD
on a fully burdened reimbursed cost basis. Daiichi will be responsible for all commercialization activities for ONZEALD in the
European Territory and will bear all associated costs.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.5in; text-align: justify; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nektar
is responsible for funding and conducting a Phase 3 confirmatory trial in approximately 350 patients with BCBM (the &ldquo;Confirmatory
Trial&rdquo;). The Confirmatory Trial will compare ONZEALD to a treatment of physician&rsquo;s choice. The primary endpoint in
the trial will be overall survival (&ldquo;OS&rdquo;). The Confirmatory Trial will include a pre-specified interim analysis for
OS which is to be conducted after 130 events have occurred in the trial.</FONT></P>

<P STYLE="font: bold 10pt/normal Times New Roman, Times, Serif; margin-top: 12pt; margin-right: 0.5in; margin-bottom: 3pt; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">A
joint steering committee of representatives of Nektar and Daiichi will oversee development, manufacturing, and regulatory activities.
The Agreement also includes various representations, warranties, covenants, indemnities and other provisions, including with respect
to intellectual property rights, that are customary for transactions of this nature. Prior to the EC granting conditional marketing
approval of ONZEALD</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">, <FONT STYLE="font-weight: normal">Daiichi
may terminate the Agreement in the event that the EC does not grant conditional marketing approval for ONZEALD based on the Confirmatory
Trial or the conditional marketing approval for ONZEALD is not granted prior to a pre-specified future date (a &ldquo;Daiichi
Pre-Conditional Approval Termination&rdquo;). Nektar may terminate the Agreement in the event that the EC requires changes in
the Confirmatory Trial that materially increase the costs of such trial and Daiichi elects not to reimburse Nektar for such incremental
costs (a &ldquo;Nektar Pre-Conditional Approval Termination&rdquo;). In the event of a Daiichi Pre-Conditional Approval Termination
or a Nektar Pre-Conditional Approval Termination, Nektar would be obligated to pay Daiichi a $12.5 million termination payment.
Following conditional approval of ONZEALD by the EC, Nektar would no longer have such termination payment obligation. Each party
has certain other termination rights based on the safety or efficacy findings including the outcome of the Confirmatory Trial
and any material uncured breaches of the Agreement. </FONT></FONT></P>

<P STYLE="font: bold 10pt/normal Times New Roman, Times, Serif; margin-top: 12pt; margin-right: 0.5in; margin-bottom: 3pt; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Agreement, which will be
filed as an exhibit to Nektar&rsquo;s Quarterly Report on Form 10-Q for the period ended June 30, 2016.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
7.01.&nbsp;&nbsp;&nbsp;&nbsp;Regulation FD Disclosure</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nektar
currently anticipates that the future cost of the Confirmatory Trial will be in the range of approximately $40 to $50 million
over the next approximately 3.5 years that is currently estimated to be required to complete such trial. This cost estimate range
is based on a several variables that can be difficult to estimate, including the number of clinical trial sites and the average
number of patients enrolled at each site, the total time required to recruit the target number of patients to be enrolled in the
Confirmatory Trial, the time required to observe the minimum number of events to support the interim and final analysis, the outcome
of the pre-planned interim analysis, clinical drug supply costs, as well as numerous other factors that can impact the actual
costs of a clinical trial.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nektar
plans to submit a marketing authorization application filing (the &ldquo;MAA&rdquo;) in June 2016 seeking conditional approval
from the EMA for the use of ONZEALD in the treatment of adult patients with advanced breast cancer having brain metastases and
having received prior anthracycline, taxane and capecitabine. On May 26, 2016, the Committee for Medicinal Products
for Human Use (CHMP) granted the planned ONZEALD MAA filing an accelerated assessment procedure which provides for an accelerated
MAA review timeline. Nektar expects the EMA review of the MAA to commence on July 14, 2016, and the CHMP review is expected to
take 6-8 months with the CHMP opinion to be issued in the first quarter of 2017.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.5in 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 1, 2016, Nektar issued a press release announcing entry into the Agreement, which is filed herewith as Exhibit 99.1 to this
Current Report.&nbsp;&nbsp;The information in this Item&nbsp;7.01, including Exhibit&nbsp;99.1, is being furnished and shall not
be deemed filed for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;),
or otherwise subject to the liability of that section, nor shall such information be deemed to be incorporated by reference in
any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as
otherwise stated in such filing.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORWARD
LOOKING STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.5in; margin-bottom: 0; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
this Form 8-K Nektar makes certain forward-looking statements including potential milestone payments payable by Daiichi to Nektar
upon the achievement of certain specified regulatory and commercial objectives and the estimated cost of the Confirmatory Trial.
These forward-looking statements involve substantial risks and uncertainties including but not limited to: (i) multi-year cost
estimates, such as that provided by Nektar in this filing for the Confirmatory Trial, are based on numerous variables such as
those specifically identified above and a multi-year cost estimate is by its nature subject to significant and unpredictable variability;
(ii) the EMA has substantial discretion as to whether to grant conditional or final marketing approval for ONZEALD and the EMA&rsquo;s
final decisions are difficult to predict even after preliminary feedback from EMA representatives, and the final decisions of
the EMA and EC for conditional or final approval of ONZEALD have significant financial consequences under the terms of the Agreement,
including the termination payment and milestone provisions; (iii) the risk of failure of any product candidate that is in clinical
development and prior to regulatory approval is high and can occur at any stage due to efficacy, safety or other factors; (iv)
the failure to achieve pre-specified regulatory outcomes with the EMA could result in Nektar having to make a termination payment
to Daiichi described above or result in reduced or no further milestone or royalty payments to Nektar from Daiichi, (v) the timing
of the commencement or end of the Confirmatory Trial and the commercial launch of ONZEALD may be delayed or unsuccessful due to
regulatory delays, required institutional review board review and approvals, slower than anticipated patient enrollment, manufacturing
challenges, changing standards of care, evolving regulatory requirements, clinical trial design, clinical outcomes, competitive
factors, or delay in obtaining regulatory approval in one or more important markets; (vi) patents may not issue from Nektar&rsquo;s
patent applications for ONZEALD and patents that have issued may not be enforceable; (vii) potential future third-party intellectual
property or licensing disputes, and (viii) certain other important risks and uncertainties set forth in our Quarterly Report on
Form 10-Q filed with the Securities and Exchange Commission&nbsp;on&nbsp;May 4, 2016. Actual results could differ materially from
these forward-looking statements.&nbsp;&nbsp;Nektar undertakes no obligation to update forward-looking statements, whether as
a result of new information, future events or otherwise.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(d)
Exhibits</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; font: 10pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;Number</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; font: 10pt/115% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 85%; border-bottom: Black 1pt solid; font: 10pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="font: 10pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 0.8pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press
    Release issued on June 1, 2016 by Nektar Therapeutics announcing the European collaboration and license agreement with Daiichi
    for ONZEALD&trade; (etirinotecan pegol).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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    <TD STYLE="width: 61%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 34%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nektar
    Therapeutics</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:&nbsp;&nbsp;June
    1, 2016</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.8pt; padding-left: 9pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Gil M. Labrucherie</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; padding-left: 9pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gil
    M. Labrucherie</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; padding-left: 9pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
    Counsel and Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT
INDEX</B></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;Number</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 85%; border-bottom: Black 1pt solid; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press
    Release issued on June 1, 2016 by Nektar Therapeutics announcing the European collaboration and license agreement with Daiichi
    for ONZEALD&trade; (etirinotecan pegol).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<FILENAME>s103378_99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 99.1&nbsp;</B></P>

<P STYLE="font: 10pt Sans-Serif; margin: 0; color: Red"><B>&nbsp;<IMG SRC="logo.jpg" ALT=""></B></P>

<P STYLE="font: 10pt Sans-Serif; margin: 0; color: Red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Sans-Serif; margin: 0; color: Red"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Nektar Therapeutics and Daiichi Sankyo Europe
GmbH Sign European Licensing Agreement for ONZEALD&trade; (etirinotecan pegol), an Investigational Drug Candidate Being Developed
to Treat Patients with Advanced Breast Cancer and Brain Metastases</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>SAN FRANCISCO, June 1, 2016 </B>-- Nektar Therapeutics (Nasdaq:
NKTR) today announced that it has entered into an agreement with Daiichi Sankyo Europe for Nektar&rsquo;s investigational drug
therapy, ONZEALD (etirinotecan pegol, NKTR-102), which has completed a Phase 3 clinical trial (the BEACON study) in patients with
advanced breast cancer. The agreement grants Daiichi Sankyo Europe exclusive rights to market ONZEALD in Europe (EEA), Switzerland
and Turkey. Nektar Therapeutics will retain rights to ONZEALD in the United States and the rest of the world.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white">Under the terms of
the agreement, Nektar Therapeutics is entitled to an upfront payment of $20 million as well as an additional $60 million in milestone
payments, based upon the achievement of European regulatory milestones and European sales of ONZEALD. Nektar is also entitled to
significant double-digit royalties on net sales in Europe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white">&ldquo;This new collaboration
with Daiichi Sankyo Europe allows Nektar to advance ONZEALD to a potential conditional approval and availability in Europe as early
as next year, and also enables us to retain ownership of the drug in the U.S. and rest of world,&rdquo; said Howard W. Robin, President
and Chief Executive Officer of Nektar Therapeutics. &ldquo;We are pursuing conditional approval for ONZEALD based on highly promising
data from our Phase 3 BEACON clinical trial in the pre-specified subgroup of patients with advanced breast cancer who have a history
of brain metastases. A diagnosis of brain metastases in women with advanced breast cancer is devastating and there are no therapies
approved to treat this specific patient population.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Nektar plans to submit an MAA filing in June 2016 seeking conditional
approval from the European Medicines Agency (EMA) for the use of ONZEALD in the treatment of patients with advanced breast cancer
and brain metastases. On May 26, 2016, the Committee for Medicinal Products for Human Use (CHMP) granted an accelerated assessment
procedure for the planned ONZEALD filing, which provides for an accelerated MAA review timeline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Nektar will be responsible for sponsoring and funding the confirmatory
trial which will support the Marketing Authorization Application (MAA) filing for ONZEALD in Europe. The data from the confirmatory
trial can be used by Nektar for a potential U.S. new drug application (NDA) filing for ONZEALD.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Breast cancer is the most frequently diagnosed cancer in women worldwide
with nearly 1.7 million new cases diagnosed in 2012.<SUP>1</SUP> There are approximately 250,000 newly-diagnosed cases of breast
cancer in the United States and 470,000 in Europe each year.<SUP> 1</SUP> Approximately 10-30 percent of patients with advanced
breast cancer are also diagnosed with brain metastases.<SUP> 2</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Nektar&rsquo;s planned MAA filing is based upon data from a subgroup
of patients from the completed BEACON study of single-agent ONZEALD in patients with advanced breast cancer. In this subgroup of
67 patients who also had a history of brain metastases, treatment with single-agent ONZEALD resulted in an improvement in median
overall survival (OS) of 5.2 months compared to treatment with a single-agent chemotherapy of physician&rsquo;s choice (TPC) (10
months vs. 4.8 months, P &lt; 0.01). TPC included a choice of ixabepilone, vinorelbine, gemcitabine, eribulin or a taxane.&nbsp;
In the planned primary analysis for the overall patient population in the BEACON study, ONZEALD median OS was 2.2 months longer
than TPC (12.4 months vs. 10.3 months, P= 0.08).<SUP>3</SUP> In the overall patient population in the BEACON study, fewer patients
in the ONZEALD arm had grade 3 or worse adverse events (AEs) than those in the TPC arm (204 [48%] vs. 256 [63%]; p&lt;0&middot;0001).<SUP>3
</SUP>The most common grade 3 and above AEs observed with ONZEALD were diarrhea (9.6%), neutropenia (9.6%), anemia (4.7%) and fatigue
(4.5%). &nbsp;The most common grade 3 and above AEs observed with TPC were neutropenia (30.8%), anemia (4.7%), and dyspnea (4.4%).&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In order to satisfy the EMA&rsquo;s requirement for additional controlled
data with the MAA for conditional approval, Nektar will sponsor a global, randomized Phase 3 trial of ONZEALD in approximately
350 patients with advanced breast cancer and brain metastases. The trial will compare ONZEALD to TPC and the primary endpoint in
the trial will be OS. The trial will include <FONT STYLE="background-color: #FEFEFE">a pre-specified interim analysis for OS which
is to</FONT> be conducted after 130 events have been observed in the trial. The U.S. Food and Drug Administration has also reviewed
the Phase 3 study design with the Statistical Analysis Plan, and indicated the trial could serve as a potential registrational
study by Nektar for purposes of seeking approval of ONZEALD to treat this patient population in the U.S.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white">The EMA may grant
conditional marketing authorization when the potential treatment addresses a severely debilitating disease with an unmet medical
need, has a positive benefit to risk profile, and the benefits to public health of its immediate availability outweigh the risks
inherent in the fact that additional data are still required. Ongoing or new studies must be completed with the objective of confirming
that the benefit to risk balance is positive. A conditional approval granted by the EMA is renewed on an annual basis until all
obligations have been fulfilled, at which point a full approval may be granted by the EMA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white">For additional terms
and conditions of the licensing agreement between Nektar and Daiichi Sankyo Europe, please refer to the Current Report on Form
8-K filed today with the Securities and Exchange Commission.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>About ONZEALD (etirinotecan pegol) (formerly NKTR-102) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">ONZEALD is the first long-acting topoisomerase I inhibitor with
an extended half-life and a unique structure that is designed to concentrate the drug in tumors. In patients, ONZEALD leads to
greatly prolonged plasma SN38 exposure compared with irinotecan (elimination half-life of 37 days compared with 2 days) yet peak
SN38 concentrations are at least 5- to 10-times less, which may also result in a favorable tolerability profile. ONZEALD was evaluated
in a Phase 3, open-label, randomized, multicenter study (the BEACON study) that enrolled 852 women with locally recurrent or metastatic
breast cancer, who have previously been treated with an anthracycline, taxane and capecitabine therapies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>About Nektar Therapeutics </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Nektar Therapeutics has a robust R&amp;D pipeline and portfolio
of approved partnered medicines in oncology, pain, immunology and other therapeutic areas. In oncology, Nektar is also developing
NKTR-214, an immuno-stimulatory CD122-biased agonist, which is in Phase 1/2 clinical development for patients with solid tumors.
In the area of pain, Nektar has an exclusive worldwide license agreement with AstraZeneca for MOVANTIK&trade; (naloxegol), the
first FDA-approved once-daily oral peripherally-acting mu-opioid receptor antagonist (PAMORA) medication for the treatment of opioid-induced
constipation (OIC), in adult patients with chronic, non-cancer pain. The product is also approved in the European Union as MOVENTIG&reg;
(naloxegol) and is indicated for adult patients with OIC who have had an inadequate response to laxatives. NKTR-181, a wholly owned
mu-opioid analgesic molecule for chronic pain conditions, is in Phase 3 development. In hemophilia, Nektar has a collaboration
agreement with Baxalta for ADYNOVATE&trade; [Antihemophilic Factor (Recombinant)], a longer-acting PEGylated Factor VIII therapeutic
approved in the U.S. and Japan for patients over 12 with hemophilia A. In anti-infectives, the company has two collaborations with
Bayer Healthcare, Cipro Inhale in Phase 3 for non-cystic fibrosis bronchiectasis and Amikacin Inhale in Phase 3 for patients with
Gram-negative pneumonia.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Nektar's technology has enabled nine approved products in the U.S.
or Europe through partnerships with leading biopharmaceutical companies, including AstraZeneca's MOVANTIK&trade;, Baxalta's ADYNOVATE&trade;,
UCB's Cimzia&reg; for Crohn's disease and rheumatoid arthritis, Roche's PEGASYS&reg; for hepatitis C and Amgen's Neulasta&reg;
for neutropenia.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Nektar is headquartered in San Francisco, California, with additional
operations in Huntsville, Alabama and Hyderabad, India. Further information about the company and its drug development programs
and capabilities may be found online at http://www.nektar.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">MOVANTIK&trade; is a trademark and MOVENTIG&reg; is a registered
trademark of the AstraZeneca group of companies. ADYNOVATE&trade; is a trademark of Baxalta Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">ONZEALD&trade; is a trademark of Nektar Therapeutics.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 0 0"><B>Cautionary Note Regarding Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This press release contains &ldquo;forward-looking
statements&rdquo; within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be
identified by words such as: &ldquo;anticipate,&rdquo; &ldquo;intend,&rdquo; &ldquo;plan,&rdquo; &ldquo;expect,&rdquo; &ldquo;believe,&rdquo;
&lsquo;should,&rdquo; &lsquo;may,&rdquo; &ldquo;could,&rdquo; &ldquo;potential,&rdquo; &ldquo;believe,&rdquo; &lsquo;will&rdquo;
and similar reference to future periods. Examples of forward-looking statements include, among others, statements we make regarding
the potential of ONZEALD, our regulatory plans for ONZEALD in Europe including the potential for conditional approval, and the
value and potential of our technology and research and development pipeline. Forward looking statements are neither historical
facts nor assurances of future performance. Instead they are based only on our current beliefs, expectations and assumptions regarding
the future of our business, future plans and strategies, anticipated events and trends, the economy and other future conditions.
Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements
include, among others: (i) the EMA has substantial discretion as to whether to grant marketing approval for ONZEALD and the EMA&rsquo;s
final decisions are difficult to predict and the final decisions of the EMA for conditional or final approval of ONZEALD have significant
financial consequences under the terms of our agreement with Daiichi Sankyo Europe, including payment and milestone provisions;
(ii) the risk of failure of any product candidate that is in clinical development and prior to regulatory approval is high and
can occur at any stage due to efficacy, safety or other factors; (iii) the failure to achieve pre-specified regulatory outcomes
with the EMA could result in a termination payment or reduced or no further milestone or royalty payments to Nektar from Daiichi,
(iv) patents may not issue from Nektar&rsquo;s patent applications for ONZEALD and patents that have issued may not be enforceable;
(v) potential future third-party intellectual property or licensing disputes and other litigation related to our drugs and drug
candidates and those of our collaboration partners; and (vi) certain other important risks and uncertainties set forth in our Quarterly
Report on Form 10-Q filed with the Securities and Exchange Commission&nbsp;on&nbsp;May 4, 2016. Actual results could differ materially
from these forward-looking statements.&nbsp;&nbsp;Any forward-looking statement made by us in this press release is based only
on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update
any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information,
future developments or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Investor and Media Contacts</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Nektar Therapeutics (investors):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Jennifer Ruddock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">650-283-6253</P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pure Communications (media):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dan Budwick</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">973-271-6085</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">dan@purecommunicationsinc.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>1.</I></TD><TD><I>American Cancer Society, Global Cancer Facts and Figures 3<SUP>rd</SUP> Edition, 2012.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>2.</I></TD><TD><I>Witzel et al. Breast Cancer Research (2016) 18:8</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>3.</I></TD><TD><I>Perez et. al., ASCO 2015.</I></TD></TR></TABLE>



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