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SAN FRANCISCO - Nektar Therapeutics (NASDAQ:NKTR), a biotechnology company with a market capitalization of $118 million, announced Tuesday that its Phase 2b REZOLVE-AD study of rezpegaldesleukin met its primary endpoint in patients with moderate-to-severe atopic dermatitis. The announcement has contributed to the company’s significant 9.3% return over the past week, according to InvestingPro data.
The 16-week study showed statistically significant improvements in the Eczema Area and Severity Score (EASI) across all three dosing regimens compared to placebo. The trial enrolled 393 patients who received either the drug at various doses or placebo. While the clinical results are promising, InvestingPro analysis reveals that Nektar is currently burning through cash rapidly, though it maintains more cash than debt on its balance sheet.
All three dose arms achieved statistical significance for key secondary endpoints including EASI-75, EASI-50, and Body Surface Area improvement. The higher dose regimens also showed significant improvements in itch reduction and investigator global assessment scores.
"These data from REZOLVE-AD show a fast onset of both EASI response and itch relief within the first few doses of rezpegaldesleukin treatment," said Prof. Jonathan Silverberg of George Washington University School of Medicine, according to the company’s press release.
The safety profile was consistent with previous findings, with injection site reactions being the most common treatment-related adverse event, affecting 69.7% of treated patients. Most reactions were mild to moderate and self-resolving.
Rezpegaldesleukin is designed to stimulate regulatory T-cells to help restore immune system balance in autoimmune conditions. The FDA granted Fast Track designation for the drug in February 2025 for atopic dermatitis treatment.
Nektar is also evaluating rezpegaldesleukin in alopecia areata, with Phase 2b data expected in Q4 2025. The company plans to continue monitoring patients in the REZOLVE-AD study through a 52-week maintenance period, with data expected in Q1 2026.
The company reported that the drug demonstrated dose-dependent reduction of inflammatory biomarkers associated with atopic dermatitis, including TARC/CCL17, periostin, MDC/CCL22, and IL-19.
This information is based on a press release statement from Nektar Therapeutics.
In other recent news, Nektar Therapeutics reported disappointing financial results for the first quarter of 2025, missing both earnings and revenue forecasts. The company posted an EPS of -$0.24 against a forecast of -$0.16, and revenue of $10.5 million, falling short of the expected $16.31 million. Despite this, Nektar maintains a strong cash position with $220.7 million on hand, expected to support operations into the fourth quarter of 2026. Additionally, Nektar is set to announce top-line data from its Phase 2b REZOLVE-AD clinical trial for atopic dermatitis, a significant milestone anticipated by investors. Analyst firm H.C. Wainwright reiterated a Buy rating with a $6.50 price target for Nektar, expressing optimism about the company’s clinical trials and potential catalysts. Similarly, BTIG maintained its Buy rating with a $4.00 price target, highlighting the derisked nature of upcoming data events. Nektar’s pipeline includes ongoing trials for other conditions, such as alopecia areata and Type 1 diabetes, with results expected later this year.
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