<SEC-DOCUMENT>0001959173-25-007274.txt : 20251125
<SEC-HEADER>0001959173-25-007274.hdr.sgml : 20251125
<ACCEPTANCE-DATETIME>20251125152810
ACCESSION NUMBER:		0001959173-25-007274
CONFORMED SUBMISSION TYPE:	144
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251125
DATE AS OF CHANGE:		20251125

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEKTAR THERAPEUTICS
		CENTRAL INDEX KEY:			0000906709
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				943134940
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		144
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	000-24006
		FILM NUMBER:		251519970

	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

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Zalevsky Jonathan
		CENTRAL INDEX KEY:			0001789857
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		144

	MAIL ADDRESS:	
		STREET 1:		455 MISSION BAY BOULEVARD SOUTH
		STREET 2:		C/O NEKTAR THERAPEUTICS
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94158
</SEC-HEADER>
<DOCUMENT>
<TYPE>144
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001789857</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <issuerCik>0000906709</issuerCik>
      <issuerName>NEKTAR THERAPEUTICS</issuerName>
      <secFileNumber>000-24006</secFileNumber>
      <issuerAddress>
        <com:street1>455 MISSION BAY BOULEVARD SOUTH</com:street1>
        <com:city>SAN FRANCISCO</com:city>
        <com:stateOrCountry>CA</com:stateOrCountry>
        <com:zipCode>94158</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>4154825300</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Zalevsky Jonathan</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Officer</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>Fidelity Brokerage Services LLC</name>
        <address>
          <com:street1>900 Salem Street</com:street1>
          <com:city>Smithfield</com:city>
          <com:stateOrCountry>RI</com:stateOrCountry>
          <com:zipCode>02917</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>1157</noOfUnitsSold>
      <aggregateMarketValue>68052.89</aggregateMarketValue>
      <noOfUnitsOutstanding>20341589</noOfUnitsOutstanding>
      <approxSaleDate>11/25/2025</approxSaleDate>
      <securitiesExchangeName>NASDAQ</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <acquiredDate>11/21/2025</acquiredDate>
      <natureOfAcquisitionTransaction>Restricted Stock Vesting</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>1157</amountOfSecuritiesAcquired>
      <paymentDate>11/21/2025</paymentDate>
      <natureOfPayment>Compensation</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Jonathan Zalevsky</name>
        <address>
          <com:street1>455 Mission Bay Boulevard South</com:street1>
          <com:city>San Francisco</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>94158</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <saleDate>09/02/2025</saleDate>
      <amountOfSecuritiesSold>485</amountOfSecuritiesSold>
      <grossProceeds>14600.10</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Jonathan Zalevsky</name>
        <address>
          <com:street1>455 Mission Bay Boulevard South</com:street1>
          <com:city>San Francisco</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>94158</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <saleDate>09/04/2025</saleDate>
      <amountOfSecuritiesSold>1721</amountOfSecuritiesSold>
      <grossProceeds>57688.44</grossProceeds>
    </securitiesSoldInPast3Months>
    <remarks>Sale includes an amount necessary to cover a tax obligation resulting from the settlement of a vested equity award distribution.</remarks>
    <noticeSignature>
      <noticeDate>11/25/2025</noticeDate>
      <signature>/s/ Gary Redman, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for Jonathan Zalevsky</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
