Why Is Nektar Therapeutics Stock Trading Lower On Thursday?

Core Insights - Nektar Therapeutics Inc. presented new data from its REZOLVE-AD Phase 2b study of rezpegaldesleukin, showing significant efficacy in treating moderate to severe atopic dermatitis [1][2] Study Results - The primary endpoint was met with a statistically significant improvement in the Eczema Area and Severity Index (EASI) at week 16 compared to placebo [2] - Key secondary endpoints, including EASI-75, EASI-90, Itch Numerical Rating Scale (NRS), vIGA-AD, and Body Surface Area (BSA), also showed significant disease reduction [2] - The study randomized 393 patients to receive different dosing regimens of rezpegaldesleukin or placebo, with the mean improvement on EASI score being 61% for the high dose (24 µg/kg every two weeks), 58% for the middle dose (18 µg/kg every two weeks), and 53% for the low dose (24 µg/kg every four weeks), compared to 31% in the placebo group [3] Crossover Data - Interim data showed that 42 placebo patients crossed over to the treatment arm, with 21 patients reaching 24 weeks of treatment with high-dose rezpegaldesleukin [4] - The mean percent reduction in EASI at crossover week 16 was 68%, and at crossover week 24, it was 75% [4] - EASI-75 responses at crossover week 16 and week 24 were 50% and 62%, respectively [4] Patient Response Rates - The percentage of patients achieving a vIGA-AD 0/1 response was 28% at week 16 and 38% at week 24 [5] - Response rates for EASI-75 were 42% for the 24 µg/kg every two weeks cohort, 46% for the 18 µg/kg every two weeks cohort, and 34% for the 24 µg/kg once-monthly cohort, compared to 17% in the placebo cohort [6] Market Reaction - Following the announcement, Nektar stock increased by 11.34%, reaching $56.86 [5]