Nektar announces positive phase 2b results for atopic dermatitis drug

SAN FRANCISCO - Nektar Therapeutics (NASDAQ:NKTR), whose stock has surged nearly 287% over the past six months according to InvestingPro data, reported Thursday that its experimental atopic dermatitis treatment rezpegaldesleukin met primary and key secondary endpoints in a Phase 2b clinical trial.

The study showed that all three dosing regimens of rezpegaldesleukin, an IL-2 pathway agonist that stimulates regulatory T-cells, achieved statistical significance over placebo in the primary endpoint of mean improvement in Eczema Area and Severity Index (EASI) at week 16. This development comes as the company, currently valued at $971 million, faces challenges with a negative EBITDA of $137 million in the last twelve months.

The high dose (24 μg/kg every two weeks) demonstrated a 61% mean improvement in EASI score compared to 31% for placebo. This dosing regimen also showed significant improvements in multiple patient-reported outcomes including quality of life measures.

Interim data from patients who crossed over from placebo to high-dose treatment showed deepening responses with extended therapy, with EASI-75 response rates increasing from 50% at week 16 to 62% at week 24.

"These data show a rapid onset of treatment effect for both clinician-assessed and patient-reported outcomes following the first few doses," said Dr. Jonathan Silverberg, Professor of Dermatology at George Washington University, who presented the findings at the European Academy of Dermatology and Venereology Congress.

The global study randomized 393 patients with moderate-to-severe atopic dermatitis across sites in Europe, North America, and Australia.

Regarding safety, 60.3% of patients across all rezpegaldesleukin arms experienced treatment-emergent adverse events excluding injection site reactions, compared to 57.5% in the placebo group. Serious adverse events were reported in 1.6% of treated patients.

The FDA has granted Fast Track designation for rezpegaldesleukin in atopic dermatitis and alopecia areata. Nektar expects to report results from its alopecia areata trial in December.

Atopic dermatitis affects approximately 30 million people in the United States and is characterized by skin barrier defects that allow allergens to enter the skin, triggering immune reactions and inflammation.

The information in this article is based on a press release statement from Nektar Therapeutics.

In other recent news, Nektar Therapeutics reported a significant earnings miss for the second quarter of 2025, with an earnings per share of -$2.78, far below the forecasted -$0.20. Despite this, the company’s revenue exceeded expectations, reaching $11.17 million compared to the anticipated $9.74 million. Additionally, Nektar Therapeutics’ stock experienced a surge following disappointing clinical trial results from Sanofi’s amlitelimab treatment for atopic dermatitis. Analysts noted that Sanofi’s data did not meet efficacy expectations, which appeared to bolster Nektar’s competitive positioning for its own atopic dermatitis candidate. Piper Sandler reiterated an Overweight rating on Nektar, emphasizing the differentiated profile of Nektar’s drug REZPEG. The firm also maintained a $105.00 price target on the stock, anticipating a catalyst-rich year ahead. These developments highlight the potential commercial opportunities for Nektar’s drug pipeline amidst competitive market dynamics.

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