Key insights
- Nektar Therapeutics will present Phase 2b data for rezpegaldesleukin in atopic dermatitis and alopecia areata at the American Academy of Dermatology meeting. Analyst price targets are bullish. While positive data could boost NKTR, the broader US equity market impact is limited to sentiment within the biotech sector.
SAN FRANCISCO - Nektar Therapeutics (NASDAQ:NKTR) announced that data from two Phase 2b studies of rezpegaldesleukin will be presented at the 2026 American Academy of Dermatology Annual Meeting on March 27-31 in Denver, according to a press release statement. The company’s shares have surged 471% over the past year to $74.01, trading near their 52-week high of $77, though the stock currently trades above InvestingPro’s Fair Value estimate.
The company will present results from studies evaluating the drug candidate in atopic dermatitis and alopecia areata through two oral presentations scheduled for Saturday, March 28.
Dr. David Rosmarin will present 36-week efficacy and safety results from the REZOLVE-AA study in severe-to-very-severe alopecia areata at 10:36 AM MST. Dr. Raj Chovatiya will present Phase 2b data on moderate-to-severe atopic dermatitis at 11:40 AM MST.
The REZOLVE-AA study enrolled patients with severe-to-very-severe alopecia areata who had not previously received JAK inhibitor or biologic treatment. The trial completed enrollment in February 2025 across approximately 30 sites, with 62% of patients in Poland, 24% in Canada, and 14% in the United States. The primary endpoint measured mean percentage reduction from baseline in the Severity of Alopecia Tool score at Week 36.
The REZOLVE-AD study enrolled 393 patients with moderate to severe atopic dermatitis across approximately 110 sites globally. Patients received one of three doses of rezpegaldesleukin or placebo, with the primary endpoint assessed at Week 16. The trial was initiated in October 2023.
Rezpegaldesleukin is designed to stimulate regulatory T cells by targeting the interleukin-2 receptor complex. The U.S. Food and Drug Administration granted Fast Track designation for the drug candidate in February 2025 for moderate-to-severe atopic dermatitis and in July 2025 for severe alopecia areata.Analysts remain bullish on the company’s prospects, with price targets ranging from $105 to $165, according to InvestingPro data. The platform notes the company is not yet profitable, with next earnings expected May 6, 2026. For deeper insights, investors can access comprehensive Pro Research Reports covering NKTR and 1,400+ US equities.
In other recent news, Nektar Therapeutics concluded the fourth quarter of 2025 with a strong financial position. The company reported a significant boost in cash reserves, ending the year with $245.8 million. Nektar further increased its liquidity through a public offering and other financing activities, bringing its total available capital to approximately $720 million. Despite reporting a net loss for the year, these financial maneuvers have bolstered its cash position. In analyst coverage, TD Cowen initiated coverage on Nektar Therapeutics with a buy rating, highlighting a potential upside with a price target of $109 per share. Additionally, Oppenheimer raised its price target for Nektar to $140 from $115, maintaining an Outperform rating. The firm emphasized opportunities in alopecia areata and type 1 diabetes, following recent data for rezpeg in the REZOLVE-AD study. These developments reflect the company’s strategic focus on expanding its research and development efforts.
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