NKTR Stock Soars as Lead Drug Meets Goal in Atopic Dermatitis Study

Nektar Therapeutics NKTR announced that the phase IIb REZOLVE-AD study evaluating its lead pipeline candidate, rezpegaldesleukin (rezpeg), in patients with moderate-to-severe atopic dermatitis, met its primary and key secondary endpoints.

The REZOLVE-AD study evaluated three doses of subcutaneous rezpeg (24 µg/kg, 18 µg/kg and 24 µg/kg) in patients with moderate-to-severe atopic dermatitis, also known as eczema.

The study met its primary endpoint of mean improvement in Eczema Area and Severity Score (EASI) from baseline for all three doses of rezpeg as compared to placebo at week 16.

Shares of the company surged 156.3% on Tuesday following the announcement of the news. The stock continued to gain another 6.8% in the after-market hours.

Year to date, shares of Nektar have rallied 75.3% against the industry’s decrease of 0.1%.

More on NKTR's REZOLVE-AD Study on Rezpeg

Data from the REZOLVE-AD study showed that treatment with all three doses of rezpeg led to a statistically significant improvement for the key secondary endpoints of EASI-75 (which indicates the percentage of patients with at least a 75% reduction in EASI from baseline), EASI-50 and the mean improvement in Body Surface Area score at week 16.

Additionally, treatment with the highest dose of rezpeg at week 16 led to a statistical significance on EASI-90, i.e., the percentage of patients reaching at least a 90% reduction in their EASI scores.

The safety profile of rezpeg during the 16-week induction period was similar to that observed in previously reported data.

The company plans to present the 16-week induction phase data from the REZOLVE-AD study at a medical conference later in 2025.

Per management, the rapid reduction in EASI scores and significant itch improvement highlight the potential of rezpeg to become a first and best-in-class immune-modulator for the treatment of inflammatory skin disorders like atopic dermatitis and other autoimmune conditions.

Rezpeg selectively activates regulatory T-cells (Tregs) to calm the immune system and reduce inflammation. Unlike older IL-2 therapies that broadly stimulate both protective and aggressive immune cells, rezpeg specifically expands Tregs without harmful immune activation. This targeted approach makes it safer for treating autoimmune and inflammatory diseases.

NKTR Also Studying Rezpeg for Alopecia Areata

Rezpeg is being developed as a self-administered injection for several autoimmune and inflammatory diseases.

Besides atopic dermatitis, the company is also investigating rezpeg in the phase IIb REZOLVE-AA study for treating patients with severe-to-very severe alopecia areata.

Enrollment in the REZOLVE-AA study was completed in February, with top-line data from the same expected in the fourth quarter of 2025.

It can be inferred that data from the REZOLVE-AD study has exceeded investors' expectations. As a result, investors are now looking forward to the data from the REZOLVE-AA study on rezpeg, which, if positive, can become a huge catalyst for the NKTR stock.

We note that Nektar regained full rights to rezpeg from pharma giant Eli Lilly LLY in April 2023 and took charge of its clinical development.

Rezpeg was earlier developed in collaboration with Lilly for several autoimmune indications.

Rezpeg is now a wholly owned asset of Nektar, and the company owes no royalty payments to LLY.

Nektar Therapeutics Price

Nektar Therapeutics price | Nektar Therapeutics Quote

NKTR's Zacks Rank & Stocks to Consider

Nektar currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Exelixis EXEL and Puma Biotechnology PBYI, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

In the past 60 days, estimates for Exelixis’ earnings per share have increased from $2.31 to $2.61 for 2025. During the same time, earnings per share estimates for 2026 have increased from $2.83 to $3.03. Year to date, shares of EXEL have increased 37.7%.

EXEL’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 48.60%.

In the past 60 days, estimates for Puma Biotechnology’s earnings per share have increased from 60 cents to 65 cents for 2025. During the same time, earnings per share estimates for 2026 have risen from 46 cents to 51 cents. Year to date, shares of PBYI have gained 10.2%.

PBYI’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 171.43%.

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