FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * Huh Hoyoung   2. Issuer Name and Ticker or Trading Symbol NEKTAR THERAPEUTICS [NKTR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 201 INDUSTRIAL ROAD 3. Date of Earliest Transaction (Month/Day/Year) 03/03/2008 (Street) SAN CARLOS, CA 94070 4. If Amendment, Date Original Filed(Month/Day/Year) 03/05/2008 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (1)

$ 6.95

03/03/2008

A

8,750

(2)

03/03/2016

Common Stock

8,750

$ 6.95

8,750

D

Restricted Stock Units

$ 0.01

03/03/2008

A

2,900

(3)

(3)

Common Stock

2,900

$ 0.01

2,900

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Huh Hoyoung 201 INDUSTRIAL ROAD SAN CARLOS, CA 94070	X

Signatures

Gil M. Labrucherie - Attorney-in-Fact		03/24/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This Form 4/A is being filed to correct an inadvertent typographical error in the number of options granted to Dr. Huh under the Non-Employee Director Compensation Plan on March 3, 2008.
(2)	This equity grant was pursuant to the Company's Compensation Plan for Non-Employee Directors, as amended and restated. 1/7th of the shares of common stock subject to the stock option vest each calendar month commencing March 31, 2008. The shares of common stock subject to the option shall fully vest on September 30, 2008, provided that the Reporting Person continues his service as a nonemployee director through such date.
(3)	This equity grant was pursuant to the Company's Compensation Plan for Non-Employee Directors, as amended and restated. The shares of common stock subject to the Restricted Stock Units shall all vest on September 30, 2008, provided that the Reporting Person continues his service as a nonemployee director through such date.

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