Nektar's Rezpegaldesleukin Shows Promising Long-Term Efficacy in Atopic Dermatitis
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Should l Buy NKTR?
Source: NASDAQ.COM
- Durable Efficacy: Nektar Therapeutics reported that in the REZOLVE-AD Phase 2b study, 71% and 83% of patients maintained EASI-75 responses after 52 weeks of treatment with Rezpegaldesleukin, indicating its durable efficacy in moderate-to-severe atopic dermatitis patients.
- New Responses: During the 36-week maintenance phase, some patients achieved new or deeper responses, with EASI-100 response rates showing up to a five-fold increase, highlighting the drug's potential advantages in treatment outcomes.
- Favorable Safety Profile: Nektar noted that the safety profile of Rezpegaldesleukin remained consistent with earlier findings, with most adverse events being mild or moderate and low discontinuation rates across both dosing regimens, enhancing its clinical applicability.
- Future Development Plans: Nektar plans to advance Rezpegaldesleukin into Phase 3 studies with a goal of submitting a Biologics License Application (BLA) by 2029, demonstrating the company's confidence in the drug's market potential and therapeutic value.
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Analyst Views on NKTR
Wall Street analysts forecast NKTR stock price to rise
8 Analyst Rating
8 Buy
0 Hold
0 Sell
Strong Buy
Current: 71.000
Low
102.00
Averages
123.43
High
165.00
Current: 71.000
Low
102.00
Averages
123.43
High
165.00
About NKTR
Nektar Therapeutics is a clinical-stage biotechnology company. It is focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. In oncology, it is focused on developing medicines based on targeting biological pathways that stimulate and sustain the body’s immune response to fight cancer. Its lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel regulatory T cell stimulator being evaluated in two Phase IIb clinical trials, one in atopic dermatitis and one in alopecia areata. Its pipeline also includes a preclinical bivalent tumor necrosis factor receptor type II (TNFR2) antibody and bispecific programs, NKTR-0165 and NKTR-0166, and a modified hematopoietic colony stimulating factor (CSF) protein, NKTR-422. It is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system's natural ability to fight cancer, in several ongoing clinical trials.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Significant Fundraising: Nektar Therapeutics successfully closed a $460 million public offering, selling 7,637,931 shares of common stock, which demonstrates strong market demand for its innovative therapies and enhances the company's financial capacity to support R&D.
- Stable Share Pricing: Common stock was sold at $58.00 per share, while pre-funded warrants were priced at $57.9999 each, indicating investor optimism about Nektar's future prospects, which could drive stock price appreciation.
- Strong Underwriter Team: The involvement of Jefferies, TD Cowen, and Piper Sandler as joint bookrunning managers adds credibility to the offering, enhancing market confidence in Nektar while providing expert capital market support.
- Effective Registration Statement: The offering was conducted under a shelf registration statement filed on November 12, 2025, ensuring compliance and transparency, which further boosts investor confidence.
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- Significant Fundraising: Nektar Therapeutics successfully closed a $460 million public offering, selling 7,637,931 shares of common stock, which demonstrates strong market demand for its innovative therapies and enhances the company's financial capacity to support R&D.
- Pricing and Subscription Details: Common stock was sold at $58.00 per share, while pre-funded warrants were priced at $57.9999 each, reflecting investor confidence in Nektar's future products, which may drive stock price appreciation.
- Strong Underwriter Lineup: With Jefferies, TD Cowen, and Piper Sandler acting as joint bookrunning managers, this indicates market recognition of Nektar, enhancing its reputation and influence in the biotechnology sector.
- Effective Registration Statement: The offering was conducted under an effective S-3ASR registration statement, ensuring compliance and transparency, which further boosts investor confidence and may attract more institutional investors for future financing.
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- Jobless Claims Data: Investors are set to monitor the Initial Jobless Claims report due at 8:30 AM ET today to gauge the Fed's future rate direction, especially after Wednesday's jobs report indicated accelerated growth in January, although the 2025 data was revised down by nearly 900,000 jobs, potentially impacting market sentiment.
- Retail Trader Sentiment: Despite the uptick in futures, retail trader sentiment on Stocktwits remains cautious, with the SPDR S&P 500 ETF (SPY) showing a ‘bearish’ outlook and the Invesco QQQ Trust (QQQ) reflecting an ‘extremely bearish’ sentiment, indicating uncertainty about future market movements.
- Earnings Reports Watch: Companies such as Airbnb (ABNB), Applied Materials (AMAT), and Rivian (RIVN) are scheduled to report earnings after market close today, and investors will closely watch these reports for potential impacts on stock prices, particularly in the current economic climate.
- Economic Data Releases: In addition to jobless claims, existing home sales data for January will also be released today, and investor reactions to these economic indicators could influence the Fed's policy decisions, further affecting market trends.
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- Offering Size: Nektar Therapeutics has priced an upsized public offering of approximately 6.6 million shares at $58.00 each, aiming for gross proceeds of $400 million, indicating strong market confidence in its immunotherapy pipeline.
- Use of Proceeds: The net proceeds from this offering are expected to fund general corporate purposes, including research and development, clinical development, and manufacturing costs, reflecting the company's commitment to advancing its drug candidates.
- Underwriter's Option: The underwriters have a 30-day option to purchase an additional ~1.03 million shares, enhancing the flexibility of the financing and potentially providing the company with additional capital support.
- Closing Date: The offering is anticipated to close on February 13, 2026, marking a proactive approach by the company in capital markets to support its long-term strategic objectives.
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- Upsized Offering: Nektar Therapeutics has announced the pricing of 6,603,449 shares of common stock at $58.00 per share and 293,103 pre-funded warrants, raising a total of $400 million, reflecting strong market confidence in its immunotherapy pipeline.
- Clear Use of Proceeds: The net proceeds from this offering will be allocated for general corporate purposes, including research and development, clinical trials (notably Phase 3 for rezpegaldesleukin), and manufacturing costs, aimed at accelerating the advancement of its drug candidates.
- Strong Underwriter Support: With Jefferies, TD Cowen, and Piper Sandler acting as joint bookrunning managers, the offering enhances market trust in Nektar while laying a solid foundation for future financing opportunities.
- Positive Future Outlook: Nektar's pipeline includes innovative therapies targeting various diseases, particularly autoimmune conditions, which are expected to drive long-term growth potential in the biotechnology sector.
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- Offering Announcement: Nektar Therapeutics has launched a public offering of $300 million in common shares, along with pre-funded warrants for certain investors, indicating a proactive approach to capital markets aimed at enhancing financial flexibility.
- Additional Financing Option: The company intends to grant underwriters a 30-day option to purchase up to an additional $45 million in common stock, a strategy that not only provides an extra funding source but may also boost market demand for its shares.
- Clear Use of Proceeds: The net proceeds from this offering will be allocated for general corporate purposes, including research and development, clinical development (specifically Phase 3 trials for rezpegaldesleukin), and manufacturing costs to support its drug candidates, demonstrating the company's commitment to its future product pipeline.
- Positive Market Reaction: Following the announcement of the public offering, Nektar's shares rose 4% in premarket trading, reflecting investor confidence in the company's financing strategy and its future growth prospects.
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