NEKTAR THERAPEUTICS
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
Nektar Therapeutics
(Name of Issuer)
Common Stock
(Title of Class of Securities)
640268108
(CUSIP Number)
12/30/2005
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's initial
filing on this form with respect to the subject class of securities, and for any
subsequent amendment containing information which would alter the disclosures provided in
a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be
"filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the Act but shall be subject to
all other provisions of the Act (however, see the Notes).
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CUSIP No. 640268108
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1. Names of Reporting Persons
IRS Identification No:
OppenheimerFunds, Inc.
13-2527171
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2. Check the Appropriate Box if a Member of a Group (See Instructions):
Joint filing
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3. SEC Use Only
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4. Citizenship or Place of Organization:
Colorado
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Number of
Shares 5. Sole Voting Power:
Beneficially 0
Owned by
Each
Reporting
Person With
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6. Shared Voting Power:
12,895,840
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7. Sole Dispositive Power:
0
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8. Shared Dispositive Power:
12,895,840
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9. Aggregate Amount Beneficially Owned by Each Reporting Person:
12,895,840 (beneficial ownership disclaimed pursuant to Rule 13d-4 of the
Exchange Act of 1934)
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10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
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11. Percent of Class Represented by Amount in Row (11):
14.72%
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12. Type of Reporting Person (See Instructions):
IA
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CUSIP No. 640268108
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1. Names of Reporting Persons:
IRS Identification No: 93-1036175
Oppenheimer Global Opportunities Fund
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2. Check the Appropriate Box if a Member of a Group (See Instructions):
Joint filing
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3. SEC Use Only
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4. Citizenship or Place of Organization:
Massachusetts
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Number of
Shares 5. Sole Voting Power:
Beneficially 0
Owned by
Each
Reporting
Person With
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6. Shared Voting Power:
12,000,000
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7. Sole Dispositive Power:
0
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8. Shared Dispositive Power:
12,000,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person:
12,000,000
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10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
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11. Percent of Class Represented by Amount in Row (11):
13.69%
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12. Type of Reporting Person (See Instructions):
IV
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Item:
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1(a) Name of Issuer:
Nektar Therapeutics
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1(b) Address of Issuer's Principal Executive Offices:
150 Industrial Road
San Carlos, CA 94070
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2(a) Name of Person Filing:
(i) OppenheimerFunds, Inc.
(ii) Oppenheimer Global Opportunities Fund
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2(b) Address of Principal Business Office or, if none, Residence:
(i) 225 Liberty Street, 11th Floor
New York, NY 10281-1008
(ii) 6803 S. Tucson Way
Centennial, CO 80112
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2(c) Citizenship:
(i) Colorado
(ii) Massachusetts
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2(d) Title of Class of Securities:
Common Stock
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2(e) CUSIP Number:
640268108
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3 OppenheimerFunds, Inc. is an investment adviser in accordance with
Rule 13d-1(b)(1)(ii)(E).
Oppenheimer Global Opportunities Fund is an investment company
registered under Section 8 of the Investment Company Act of 1940.
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4(a) Amount beneficially owned:
(i) 12,895,840 (beneficial ownership disclaimed pursuant to Rule
13d-4 of the Exchange Act of 1934) (includes ownership reported in
4(a)(ii) below)
(ii) 12,000,000
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4(b) Percent of class:
(i) 14.72% (reflects ownership reported in 4(b)(ii) below)
(ii) 13.69%
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4(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
(a) 0
(b) 0
(ii) Shared power to vote or to direct the vote:
(a) 12,895,840
(b) 12,000,000
(iii) Sole power to dispose or to direct the disposition of:
(a) 0
(b) 0
(iv) Shared power to dispose or to direct the disposition of:
(a) 12,895,840
(b) 12,000,000
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5. Ownership of Five Percent or Less of a Class: [ ]
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6. Ownership of More than Five Percent on Behalf of Another Person.:
See Exhibit A hereto.
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7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company:
N/A
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8. Identification and Classification of Members of the Group:
N/A
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9. Notice of Dissolution of Group:
N/A
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10. Certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in
the ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any transaction
having that purpose or effect.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the
information set forth in this statement is true, complete and correct.
02/8/2006
Date
/s/ Mark Vandehey
Signature
Mark Vandehey, Senior Vice President
and Chief Compliance Officer
Name/Title
EXHIBIT A
The respective Boards of Directors or Trustees of the registered investment
companies ("Funds") managed by OppenheimerFunds, Inc. ("OFI") that own shares of the
issuer can direct the disposition of dividends received by such Funds and can dispose of
such securities. Additionally, OFI shares the power to dispose of such securities with
the Board of Directors or Trustees of such Funds; however, the Boards of Directors or
Trustees of such Funds have delegated this responsibility to OFI as the Funds' investment
advisor under the respective investment advisory agreements. OFI has an interest relating
to five (5%) percent or more of such securities as disclosed on Page 2 hereof, by virtue
of the interest of five percent (5%) or more of such securities by Oppenheimer Global
Opportunities Fund as disclosed on pages 3 and 4 hereof. OFI disclaims ownership of such
securities, except as expressly stated herein.
EXHIBIT B
The undersigned investment company hereby acknowledges and agrees that a report on
Schedule 13G filed by OppenheimerFunds, Inc. on or about the date hereof, relating to the
common stock of Nektar Therapeutics is filed on behalf of the undersigned.
Dated: February 8, 2006
Oppenheimer Global Opportunities Fund
By: /s/ Kathleen T. Ives
Kathleen T. Ives
Assistant Secretary
Nektar Therapeutic Systems a7 13g(123005).rtf