Core Insights - Nektar Therapeutics released statistically significant data from the 16-week induction period of the Phase 2b REZOLVE-AD study for the investigational drug rezpegaldesleukin, achieving its primary endpoint in improving the Eczema Area and Severity Score (EASI) compared to placebo [1][2]. Group 1: Study Results - All three dose arms of rezpegaldesleukin showed statistical significance at week 16 for key secondary endpoints, including EASI-75, EASI-50, and Body Surface Area (BSA) score improvements [2]. - Patients treated with rezpegaldesleukin experienced a 53% to 61% improvement in symptoms, while the placebo group showed a 31% improvement [3]. Group 2: Comparative Analysis - The efficacy of rezpegaldesleukin appears comparable to the OX40 drug class but is numerically lower than Dupixent in Phase IIb programs [3]. - High frequencies of injection site reactions (30% to 40%) for rezpegaldesleukin could pose a commercial liability compared to Dupixent, which has lower reaction rates [3]. Group 3: Future Outlook - If rezpegaldesleukin demonstrates a remittive effect, it may reduce injection site reactions, but further updates are needed, with maintenance data expected in early 2026 and off-treatment results in 2027 [4]. - The stock reaction, which saw a rise of approximately 135%, is viewed as a normalization event rather than a reflection of a differentiated asset, with shares trading around the company's current cash levels [5].

Core Insights - Nektar Therapeutics announced that its phase IIb REZOLVE-AD study for rezpegaldesleukin (rezpeg) in treating moderate-to-severe atopic dermatitis met its primary and key secondary endpoints [1][7][8] Group 1: Study Results - The study achieved its primary endpoint of mean improvement in Eczema Area and Severity Score (EASI) from baseline for all three doses of rezpeg compared to placebo at week 16 [2][5] - All doses of rezpeg showed significant improvements in key secondary endpoints, including EASI-75, EASI-50, and mean improvement in Body Surface Area score at week 16 [5][6] - The highest dose of rezpeg also demonstrated statistical significance on EASI-90, indicating a 90% reduction in EASI scores for some patients [6] Group 2: Market Reaction - Following the announcement, Nektar's shares surged by 156.3% and gained an additional 6.8% in after-market trading [2][7] - Year-to-date, Nektar's shares have increased by 75.3%, contrasting with a slight decline of 0.1% in the industry [4] Group 3: Future Plans and Potential - The company plans to present the 16-week induction phase data from the REZOLVE-AD study at a medical conference in 2025 [8] - Management highlighted the potential of rezpeg to become a first and best-in-class immune-modulator for inflammatory skin disorders and other autoimmune conditions [8][9] - Rezpeg is also being studied for alopecia areata, with top-line data expected in the fourth quarter of 2025 [10][11] Group 4: Ownership and Development - Nektar regained full rights to rezpeg from Eli Lilly in April 2023, allowing the company to take charge of its clinical development without royalty payments [11][12]

Company Overview - Nektar Therapeutics (NKTR) shares increased by 12.1% to close at $9.54, following a significant volume of trading, contrasting with a 13.2% loss over the previous four weeks [1] - The rise in stock price is attributed to growing investor optimism regarding the phase IIb REZOLVE-AD study of rezpegaldesleukin for moderate-to-severe atopic dermatitis [1] Financial Expectations - Nektar is projected to report a quarterly loss of $2.53 per share, reflecting a year-over-year increase of 32.5% [2] - Expected revenues for the upcoming report are $10.78 million, which is a decrease of 54.1% compared to the same quarter last year [2] Earnings Estimate Revisions - The consensus EPS estimate for Nektar has been revised 10.5% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [3] - Monitoring Nektar's stock is advised to see if the recent price increase can sustain and lead to further strength [3] Industry Context - Nektar operates within the Zacks Medical - Drugs industry, which includes other companies such as Indivior PLC (INDV) [4] - Indivior's stock closed 0.4% lower at $13.95, but has seen a return of 24.4% over the past month [4] - Indivior's consensus EPS estimate remains unchanged at $0.25, representing a decline of 43.2% from the previous year [5]

Core Viewpoint - Nektar Therapeutics Inc's stock has surged by 83.7% to $17.52 following positive results from a mid-stage study of its eczema drug, rezpegaldesleukin, which met both primary and secondary goals [1] Group 1: Stock Performance - Nektar Therapeutics is experiencing its best trading day since a 91.5% increase on August 7, 2023, after similar promising data for the same drug [1] - The stock has broken above several moving averages, including the 320-day trendline, and is up 23.7% in 2025 [1] Group 2: Options Trading Activity - Options traders are actively engaging with Nektar stock, with 6,952 calls and 6,360 puts exchanged, representing 7.9 times the typical volume for an entire session [2] - The most popular option is the July 9 put, where new positions are being sold to open [2] Group 3: Short Interest Dynamics - A potential short squeeze could further propel the stock's breakout, as short interest has decreased by over 90%, yet 750,000 shares sold short still represent 6.2% of NKTR's total available float [3] - At the current trading pace, it would take shorts more than four trading days to cover their positions [3]

Summary of Nektar Therapeutics Conference Call Company and Industry - **Company**: Nektar Therapeutics - **Industry**: Biotechnology, specifically focusing on treatments for autoimmune and inflammatory conditions, with a current emphasis on dermatological diseases such as atopic dermatitis and alopecia areata Core Points and Arguments 1. **Therapeutic Strategy**: Nektar's strategy focuses on advancing innovative therapies for serious autoimmune and inflammatory conditions, particularly through immune system rebalancing to achieve immune homeostasis for patients [6][46] 2. **Rezpeg Overview**: Rezpeg is a first-in-class Treg stimulator based on IL-2, validated as a best-in-class approach for treating atopic dermatitis, differentiating itself from other IL-2 agonists [6][7] 3. **Clinical Trial Results**: The Phase IIb trial for Rezpeg in atopic dermatitis showed statistically significant results across primary and secondary endpoints, with a p-value of less than 0.001 for the primary endpoint [7][16] 4. **Efficacy Metrics**: - The trial met its primary endpoint of mean improvement in EASI score at week sixteen for all three arms of Rezpeg versus placebo - Key secondary endpoints such as EZ75, EZ50, and BSA also achieved statistical significance [7][17] - The highest dose of 24 micrograms per kilogram every two weeks achieved significance on the EZ90 endpoint [7][17] 5. **Rapid Onset of Response**: A rapid onset of response was observed, particularly for EZ75 and itch, differentiating Rezpeg from other immune modulation approaches [8][19] 6. **Safety Profile**: The safety profile was consistent with previous results, with less than 1% of patients discontinuing due to injection site reactions (ISRs) and no increased incidence of conjunctivitis or infections compared to placebo [8][26] 7. **Translational Data**: Rezpeg reduced key Th2-related inflammatory markers associated with atopic dermatitis, indicating a meaningful immunological impact [21][22] 8. **Future Studies**: Nektar is eager to evaluate Rezpeg in alopecia areata, with results expected in Q4 2023, and plans to present 52-week maintenance data in early 2026 [9][49] Additional Important Content 1. **Patient Demographics**: The study enrolled 393 biologic-naive patients with moderate to severe atopic dermatitis, predominantly from Europe, North America, and Australia [10][14] 2. **Placebo Response Rate**: The low placebo response rate of 31% was noted as a significant achievement, indicating effective management of placebo effects [17][66] 3. **Dosing Strategy**: The company is considering a single dose level for Phase III based on the successful dose range observed in Phase IIb [62][63] 4. **Potential for Other Indications**: Nektar sees potential for Rezpeg in other dermatological conditions such as lupus and vitiligo, as well as in type 1 diabetes [51][52] 5. **ISR Mitigation Strategies**: Nektar is planning to implement strategies to mitigate ISRs, including the use of an auto-injector for self-administration [28][81] 6. **Expert Opinions**: Key opinion leaders expressed confidence in the study design and results, highlighting the potential for sustained and deepening responses in future studies [44][70] This summary encapsulates the key points discussed during the conference call, focusing on the efficacy, safety, and future potential of Rezpeg in treating atopic dermatitis and other conditions.

Phase 2b REZOLVE-AD Topline Results from 16-Week Induction Rezpegaldesleukin in Patients with Moderate-to- Severe Atopic Dermatitis June 24, 2025 1 Forward-Looking Statements Safe Harbor Statement This presentation and any accompanying oral discussion contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, express or implied statements regarding Nektar Therapeutics (the "Company" or "Nektar")'s plans, progress, and timing ...

Core Insights - Nektar Therapeutics announced statistically significant results from the Phase 2b REZOLVE-AD study of rezpegaldesleukin for atopic dermatitis, achieving primary and key secondary endpoints at week 16 [1][3][4] - The study demonstrated a rapid onset of Eczema Area and Severity Index (EASI) reduction and itch improvement, indicating the potential of rezpegaldesleukin as a first-in-class immune-modulator [1][7] - The safety profile of rezpegaldesleukin was consistent with previous reports, with the most common adverse events being mild to moderate injection site reactions [12][13] Study Design and Results - The global Phase 2b study involved 393 patients with moderate-to-severe atopic dermatitis, randomized to receive different dosing regimens of rezpegaldesleukin or placebo [2][18] - At week 16, the high dose (24 µg/kg every two weeks) showed a mean improvement in EASI score of 61%, while the middle and low doses showed improvements of 58% and 53%, respectively, all statistically significant compared to placebo [8][12] - Key secondary endpoints, including EASI-75 and EASI-90, also achieved statistical significance, with 42% and 25% of patients in the high dose group achieving these reductions, respectively [4][6] Efficacy and Biomarkers - The study revealed a robust dose-dependent reduction in inflammatory biomarkers associated with atopic dermatitis, including IL-19 and TARC/CCL17, with a notable increase in total regulatory T cells (Tregs) in the high dose group [9][10] - The results suggest that rezpegaldesleukin may offer a new therapeutic approach for treating dermatological diseases, with ongoing studies expected to provide further insights [9][10] Future Developments - Nektar plans to present the 16-week induction results at a medical conference later in 2025 and anticipates top-line data for alopecia areata in Q4 2025 [11][21] - The FDA granted Fast Track designation for rezpegaldesleukin for treating moderate-to-severe atopic dermatitis, indicating the potential for expedited development [21][22]

Company Overview - Nektar Therapeutics is a clinical-stage biotechnology company focused on developing novel immunology therapies for autoimmune and chronic inflammatory diseases [3] - The company's lead product candidate, rezpegaldesleukin (REZPEG or NKTR-358), is a first-in-class regulatory T cell stimulator currently being evaluated in two Phase 2b clinical trials, one for atopic dermatitis and another for alopecia areata [3] - Nektar's pipeline includes a preclinical bivalent tumor necrosis factor receptor type II (TNFR2) antibody, bispecific programs NKTR-0165 and NKTR-0166, and a modified hematopoietic colony stimulating factor (CSF) protein, NKTR-422 [3] - The company is also evaluating NKTR-255, an investigational IL-15 receptor agonist aimed at enhancing the immune system's ability to combat cancer, in several ongoing clinical trials [3] Upcoming Events - Nektar Therapeutics will host an investor call and live webcast on June 24, 2025, to review top-line data from the 16-week induction period of the Phase 2b REZOLVE-AD clinical trial for rezpegaldesleukin [1] - The data will be released in a morning press release and presented during the webcast, with access details available on the Nektar website [2]

Group 1 - Nektar Therapeutics (NASDAQ: NKTR) is preparing for a significant catalyst in June 2025, with the upcoming release of data from its phase 2b REZOLVE-AD study [2] - The REZOLVE-AD study is evaluating the use of REZPEG (NKTR-358) [2] Group 2 - The Biotech Analysis Central service offers in-depth analysis of various pharmaceutical companies, including a library of over 600 biotech investing articles and a model portfolio of more than 10 small and mid-cap stocks [1][2]

Core Insights - Ambrosia-Nektar Inc. is a new player in the international organic food market, launching a premium product line featuring high-end organic food sourced from Greece [1][7] - The brand emphasizes single-ingredient food made with organic, non-GMO ingredients from small artisan producers, focusing on quality and authenticity [4][8] - The company aims to meet the growing consumer demand for transparency and premium quality in food products [6] Product Categories - The product line includes three core categories: - Herbs & Infusions: Featuring wild oregano, mountain tea, and herbal blends known for flavor and wellness benefits [7] - Liquid Sustenance: Offering organic extra virgin olive oil, wild forest honey, and pomegranate juice, showcasing the biodiversity of Greece [7] - Gift Sets: Elegant assortments designed for gifting, combining traditional Greek staples with luxurious packaging [7] Company Philosophy - Ambrosia-Nektar's mission is to reconnect consumers with food in its purest form, supporting local agricultural traditions while ensuring product purity and safety through lab testing [5][8] - The brand's commitment to transparency and traceability from source to shelf is a key aspect of its operations [4][6]