================================================================================


                                  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): November 2, 2006



                               NEKTAR THERAPEUTICS
             (Exact name of Registrant as specified in its charter)



         Delaware                       0-24006                   94-3134940
(State or other jurisdiction          (Commission               (IRS Employer
      of incorporation)               File Number)           Identification No.)



                               150 Industrial Road
                          San Carlos, California 94070
              (Address of principal executive offices and Zip Code)


       Registrant's telephone number, including area code: (650) 631-3100



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 2.02 Results of Operations and Financial Condition.

On November 2, 2006,  Nektar  Therapeutics  issued a press  release  (the "Press
Release")  announcing  results for the three month and nine month  periods ended
September  30, 2006. A copy of the Press  Release is attached as Exhibit 99.1 to
this Current Report and is incorporated herein by reference.

The  information  in this report,  including  the exhibit  hereto,  shall not be
deemed  "filed" for  purposes of Section 18 of the  Securities  Exchange  Act of
1934, as amended,  or otherwise  subject to the  liabilities  of that Section or
Sections  11 and  12(a)(2)  of the  Securities  Act of  1933,  as  amended.  The
information  contained  herein  and in the  accompanying  exhibit  shall  not be
incorporated  by  reference  into any filing with the  Securities  and  Exchange
Commission  made by Nektar  Therapeutics,  whether made before or after the date
hereof, regardless of any general incorporation language in such filing.




                                   SIGNATURES

Pursuant to the requirement 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.


                                            By:          /s/ ROBERT CHESS
                                                --------------------------------
                                                           Robert Chess
                                                --------------------------------
                                                Chairman of the Board and Acting
                                                  President and Chief Executive
                                                             Officer

                                            Date: November 2, 2006

                                            By:          /s/ LOUIS DRAPEAU
                                                --------------------------------
                                                           Louis Drapeau
                                                --------------------------------
                                                 Senior Vice President, Finance
                                                   and Chief Financial Officer

                                            Date: November 2, 2006




                                  EXHIBIT INDEX

Exhibit No.  Description
-----------  -----------

99.1         Earnings Press Release of Nektar Therapeutics dated November 2,
             2006.