(RTTNews) -  Nektar Therapeutics (NKTR: News ) posted third quarter net loss of $31.0 million or $0.33 per share, compared to a net loss of $37.0 million or $0.40 per share in the prior year quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report a loss of $0.38 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter declined to $10.2 million from $21.4 million a year earlier. Nine Wall Street analysts expected revenues of $10.95 million.
For nine months, net loss narrowed to $94.84 million or $1.02 per share from $111.12 million or $1.20 per share in the previous year.

Total Revenue for the nine-month period plunged to $32.92 million from $61.83 million a year-ago. The company said that this decrease in revenue was mainly due to lower contract research and manufacturing revenues primarily resulting from the sale of certain of its pulmonary assets to Novartis which occurred on December 31, 2008.

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by RTT Staff Writer

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