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SAN FRANCISCO and NEW YORK - Nektar Therapeutics (NASDAQ: NASDAQ:NKTR), a clinical-stage biotechnology company currently trading at $0.93 per share with a market capitalization of $173 million, in partnership with TrialNet, a leader in diabetes research, has announced a collaboration to assess the novel biologic rezpegaldesleukin in stage 3 type 1 diabetes mellitus (T1D) patients. According to InvestingPro analysis, the company maintains a strong liquidity position with a current ratio of 4.24, though it faces profitability challenges. The Phase 2 study will be placebo-controlled and randomized, aiming to evaluate the safety and potential efficacy of the drug in roughly 70 adults and children newly diagnosed with the disease.
Rezpegaldesleukin is designed to modulate the immune system by expanding T regulatory (Treg) cells, which are crucial in T1D pathogenesis. The trial will measure the drug’s effectiveness in preserving C-peptide levels over 12 months, which includes a 6-month treatment phase and a 6-month follow-up. With InvestingPro data showing the company is quickly burning through cash with a negative free cash flow yield, investors should note that comprehensive research reports covering Nektar’s financial health and growth prospects are available through the Pro platform. Secondary objectives encompass pharmacokinetics, pharmacodynamics, and additional disease assessments such as HbA1c levels and patient insulin requirements.
Jonathan Zalevsky, PhD, Senior Vice President and Chief Research & Development Officer of Nektar, expressed enthusiasm for the partnership with TrialNet and the potential impact of rezpegaldesleukin on T1D progression. Kevan C. Herold, MD, TrialNet Chair, also highlighted the significance of exploring Treg stimulation as a therapeutic approach for T1D.
Nektar will supply rezpegaldesleukin for the trial and retain all rights to the program. The company is also investigating the drug in other autoimmune and inflammatory conditions, with ongoing Phase 2b clinical trials for atopic dermatitis and alopecia areata. The FDA has granted rezpegaldesleukin Fast Track designation for the treatment of moderate-to-severe atopic dermatitis in patients 12 years and older.
T1D is an immune-mediated disease that leads to the destruction of insulin-producing beta cells, necessitating life-long insulin dependence. Preserving residual beta-cell function at diagnosis is believed to improve glycemic control and reduce long-term complications. With earnings scheduled for February 27 and the stock showing a 36% gain over the past year despite recent challenges, investors seeking detailed analysis can access comprehensive financial metrics and expert insights through InvestingPro’s extensive research tools.
The information for this article is based on a press release statement.
In other recent news, Nektar Therapeutics announced that its drug candidate, rezpegaldesleukin, has received Fast Track designation from the U.S. Food and Drug Administration for the treatment of moderate-to-severe atopic dermatitis. This designation aims to expedite the development and review process for drugs treating serious conditions with unmet medical needs. The company has also completed enrollment for its Phase 2b clinical trial, REZOLVE-AD, which is evaluating the efficacy of rezpegaldesleukin in treating this chronic skin condition. Topline data from this trial is expected in the second quarter of 2025.
In a separate development, Nektar Therapeutics disclosed a significant change in its senior leadership, with Dr. Mary Tagliaferri stepping down as the Chief Medical (TASE:BLWV) Officer, and Dr. Brian Kotzin being appointed as the interim Chief Medical Officer. Dr. Kotzin has been involved with the rezpegaldesleukin program and brings extensive experience in immunology. Additionally, B. Riley initiated coverage on Nektar with a Buy rating, highlighting the potential of rezpegaldesleukin as a market disruptor in the atopic dermatitis space. The firm noted that Nektar’s financial stability, bolstered by the recent sale of its PEGylation manufacturing business, supports its operations into mid-2026. Piper Sandler also included Nektar Therapeutics in its list of companies with key Phase 2b readouts expected in 2025.
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