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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center">FORM 8-K</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center">Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><FONT STYLE="font-weight: normal">Date
of report (Date of earliest event reported): February 24, 2012</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center">NEKTAR THERAPEUTICS</P>

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

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    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-weight: bold; text-align: center; text-indent: 0">Delaware<BR> (State or Other Jurisdiction of Incorporation)</TD>
    <TD STYLE="padding: 0; font-weight: bold; text-align: center; text-indent: 0">0-24006<BR> (Commission <BR> File Number)</TD>
    <TD STYLE="padding: 0; font-weight: bold; text-align: center; text-indent: 0">94-3134940<BR> (IRS Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>455 Mission Bay Boulevard South<BR>
San Francisco, California 94158<BR>
(Address of Principal Executive Offices and Zip Code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">Registrant&rsquo;s telephone number,
including area code: (415) 482-5300</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">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:</P>

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

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.5in">&nbsp;</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>Item&nbsp;1.01</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Entry
into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-indent: 24.5pt">On February 24, 2012, <FONT STYLE="color: black">Nektar
Therapeutics</FONT> (&ldquo;Nektar&rdquo;) entered into a Purchase and Sale Agreement (the &ldquo;Purchase and Sale Agreement&rdquo;)
with RPI Finance Trust (together with any of its designated affiliates, &ldquo;RPI&rdquo;), an affiliate of Royalty Pharma. Pursuant
to the Purchase and Sale Agreement, on February 29, 2012, Nektar sold to RPI all of its rights to receive royalty payments arising
in respect of worldwide net sales, from and after January 1, 2012, of (a) CIMZIA&reg; under Nektar&rsquo;s license, manufacturing
and supply agreement with UCB Pharma, and (b)&nbsp;MIRCERA&reg; under Nektar&rsquo;s license, manufacturing and supply agreement
with F. Hoffmann-La&nbsp;Roche Ltd and Hoffmann-La&nbsp;Roche Inc. (collectively, the &ldquo;Royalty Entitlements&rdquo;). On February
29, 2012, Nektar received an aggregate cash purchase price from RPI for the Royalty Entitlements of $124.0 million, subject to
certain adjustments described below.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-indent: 24.5pt">Pursuant to the Purchase and Sale Agreement,
Nektar will be required to pay to RPI (a) $3.0 million if certain worldwide net sales thresholds of MIRCERA&reg; for the 12 month
period ending on December 31, 2012 are not achieved and (b) up to $7.0 million if certain worldwide net sales thresholds of MIRCERA&reg;
for the 12 month periods ending on December 31, 2012 and December 31, 2013, respectively, are not achieved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-indent: 24.5pt">The Purchase and Sale Agreement grants
RPI the right to receive certain reports and other information relating to the Royalty Entitlements and contains various representations
and warranties, covenants, indemnification obligations and other provisions that are customary for a transaction of this nature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 24.5pt">The foregoing summary does not purport
to be complete and is qualified in its entirety by reference to the Purchase and Sale Agreement, which will be filed as an exhibit
to Nektar&rsquo;s Quarterly Report on Form 10-Q for the quarterly period ending March 31, 2012.</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>Item&nbsp;2.01</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Completion
of Acquisition or Disposition of Assets.</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; text-indent: 27pt">As disclosed in Item 1.01 above, on February
24, 2012, Nektar entered into a Purchase and Sale Agreement with RPI with respect to the purchase and sale of the Royalty Entitlements.
On February 29, 2012, Nektar completed the sale of the respective Royalty Entitlements and received $124.0 million in cash as consideration
from RPI (or its designated affiliate) for the sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">Nektar knows of no material relationships between
it or its affiliates, on the one hand, and RPI or its affiliates, on the other hand, other than in respect of the transactions
set forth in the Purchase and Sale Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">The information set forth in Item 1.01 above
is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 7.01</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Regulation
FD Disclosure.</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; text-indent: 27pt">On February 29, 2012, Nektar issued the press
release announcing the matters reported herein under Items 1.01 and 2.01. 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 8%; border-bottom: black 1.5pt solid; padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit <BR>
No.</B></P></TD>
    <TD STYLE="width: 1%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 91%; border-bottom: black 1.5pt solid; padding: 0; font-weight: bold; text-indent: 0">Description</TD></TR>
<TR>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center; padding: 0; text-indent: 0">99.1&nbsp;&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">Press Release titled &ldquo;Nektar Therapeutics Announces
    Agreement to Sell MIRCERA&reg; and CIMZIA&reg; Royalties to Royalty Pharma for $124 Million&rdquo; issued by Nektar
    Therapeutics on     February     29, 2012.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-align: center">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">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 hereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">NEKTAR THERAPEUTICS</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in; width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in; width: 3%">By:</TD>
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in; width: 37%; border-bottom: Black 1pt solid">/s/ Gil M. Labrucherie</TD>
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in; width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in">Name:&nbsp; Gil M. Labrucherie</TD>
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in">Title:&nbsp; &nbsp;&nbsp;General Counsel and Secretary</TD>
    <TD STYLE="padding: 0; text-indent: 0; tab-stops: lined 3.25in 6.5in">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0in">Date: February 29, 2012</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">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>EXHIBIT INDEX</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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 8%; border-bottom: black 1.5pt solid; padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit<BR>
No.</B></P></TD>
    <TD STYLE="width: 1%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 91%; border-bottom: black 1.5pt solid; padding: 0; font-weight: bold; text-indent: 0">Description</TD></TR>
<TR>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center; padding: 0; text-indent: 0">99.1&nbsp;&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">Press Release titled &ldquo;Nektar Therapeutics Announces
    Agreement to Sell MIRCERA&reg; and CIMZIA&reg; Royalties to Royalty Pharma for $124 Million&rdquo; issued by Nektar
    Therapeutics on     February     29, 2012.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0">&nbsp;</P>

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{"company-data": {"conformed-name": "NEKTAR THERAPEUTICS", "cik": "0000906709", "assigned-sic": "2834", "irs-number": "943134940", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-24006", "film-number": "12650616"}, "business-address": {"street1": "455 MISSION BAY BOULEVARD SOUTH", "city": "SAN FRANCISCO", "state": "CA", "zip": "94158", "phone": "4154825300"}, "mail-address": {"street1": "455 MISSION BAY BOULEVARD SOUTH", "city": "SAN FRANCISCO", "state": "CA", "zip": "94158"}, "former-company": [{"former-conformed-name": "INHALE THERAPEUTIC SYSTEMS INC", "date-changed": "19980723"}, {"former-conformed-name": "INHALE THERAPEUTIC SYSTEMS", "date-changed": "19940303"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date
of report (Date of earliest event reported): February 24, 2012
NEKTAR THERAPEUTICS
(Exact Name of Registrant as Specified in
Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
0-24006
(Commission
File Number)
94-3134940
(IRS Employer Identification No.)
455 Mission Bay Boulevard South
San Francisco, California 94158
(Address of Principal Executive Offices and Zip Code)
Registrant's telephone number,
including area code: (415) 482-5300
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:
£
Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
£
Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01
Entry
into a Material Definitive Agreement.
On February 24, 2012,
Nektar
Therapeutics
("Nektar") entered into a Purchase and Sale Agreement (the "Purchase and Sale Agreement")
with RPI Finance Trust (together with any of its designated affiliates, "RPI"), an affiliate of Royalty Pharma. Pursuant
to the Purchase and Sale Agreement, on February 29, 2012, Nektar sold to RPI all of its rights to receive royalty payments arising
in respect of worldwide net sales, from and after January 1, 2012, of (a) CIMZIA® under Nektar's license, manufacturing
and supply agreement with UCB Pharma, and (b) MIRCERA® under Nektar's license, manufacturing and supply agreement
with F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc. (collectively, the "Royalty Entitlements"). On February
29, 2012, Nektar received an aggregate cash purchase price from RPI for the Royalty Entitlements of $124.0 million, subject to
certain adjustments described below.
Pursuant to the Purchase and Sale Agreement,
Nektar will be required to pay to RPI (a) $3.0 million if certain worldwide net sales thresholds of MIRCERA® for the 12 month
period ending on December 31, 2012 are not achieved and (b) up to $7.0 million if certain worldwide net sales thresholds of MIRCERA®
for the 12 month periods ending on December 31, 2012 and December 31, 2013, respectively, are not achieved.
The Purchase and Sale Agreement grants
RPI the right to receive certain reports and other information relating to the Royalty Entitlements and contains various representations
and warranties, covenants, indemnification obligations and other provisions that are customary for a transaction of this nature.
The foregoing summary does not purport
to be complete and is qualified in its entirety by reference to the Purchase and Sale Agreement, which will be filed as an exhibit
to Nektar's Quarterly Report on Form 10-Q for the quarterly period ending March 31, 2012.
Item 2.01
Completion
of Acquisition or Disposition of Assets.
As disclosed in Item 1.01 above, on February
24, 2012, Nektar entered into a Purchase and Sale Agreement with RPI with respect to the purchase and sale of the Royalty Entitlements.
On February 29, 2012, Nektar completed the sale of the respective Royalty Entitlements and received $124.0 million in cash as consideration
from RPI (or its designated affiliate) for the sale.
Nektar knows of no material relationships between
it or its affiliates, on the one hand, and RPI or its affiliates, on the other hand, other than in respect of the transactions
set forth in the Purchase and Sale Agreement.
The information set forth in Item 1.01 above
is incorporated by reference herein.
Item 7.01
Regulation
FD Disclosure.
On February 29, 2012, Nektar issued the press
release announcing the matters reported herein under Items 1.01 and 2.01. The information in this Item 7.01, including Exhibit 99.1,
is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), 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.
Item 9.01        Financial
Statements and Exhibits.
(d) Exhibits
Exhibit
No.
Description
99.1
Press Release titled "Nektar Therapeutics Announces
    Agreement to Sell MIRCERA® and CIMZIA® Royalties to Royalty Pharma for $124 Million" issued by Nektar
    Therapeutics on     February     29, 2012.
SIGNATURES
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 hereunto
duly authorized.
NEKTAR THERAPEUTICS
By:
/s/ Gil M. Labrucherie
Name:  Gil M. Labrucherie
Title:    General Counsel and Secretary
Date: February 29, 2012
EXHIBIT INDEX
Exhibit
No.
Description
99.1
Press Release titled "Nektar Therapeutics Announces
    Agreement to Sell MIRCERA® and CIMZIA® Royalties to Royalty Pharma for $124 Million" issued by Nektar
    Therapeutics on     February     29, 2012.