Nektar Therapeutics said its mid-stage trial showed that patients who received Rezpegaldesleukin demonstrated improvement in eczema area and severity score compared to placebo at week 16.

Shares of Nektar Therapeutics (NKTR) more than doubled on Tuesday afternoon after the company announced that its mid-stage study evaluating Rezpegaldesleukin in atopic dermatitis demonstrated improvement in area affected and severity.

The global Phase 2b study is being conducted in 393 patients with moderate-to-severe atopic dermatitis. The company announced that, at week 16, patients who received Rezpegaldesleukin showed improvement in eczema area and severity score from baseline, as compared to placebo, using a widely used index.

The trial also demonstrated that Rezpegaldesleukin reduced disease severity by as much as 90% or more with higher doses of the drug.

Atopic dermatitis is the most common type of eczema, affecting approximately 30 million people in the U.S., according to Nektar. It is characterized by a defect in the skin barrier, which allows allergens and other irritants to enter the skin, leading to an immune reaction and inflammation.

Rezpegaldesleukin is an investigational therapy that may address the underlying immune system imbalance in people with many autoimmune and inflammatory conditions.

It targets the interleukin-2 receptor complex in the body to stimulate the proliferation of powerful inhibitory immune cells known as regulatory T cells. By activating these cells, Rezpegaldesleukin aims to restore the immune system's balance.

The company is now looking forward to reporting results from its trial of Rezpegaldesleukin in alopecia areata, an autoimmune disease that causes hair loss, in the fourth quarter of this year.

Following the update from the company, H.C. Wainwright raised the firm's price target on Nektar to $120 from $6.50 while keeping a ‘Buy’ rating on the shares.

On Stocktwits, retail sentiment around Nektar jumped from ‘bullish’ to ‘extremely bullish’ territory over the past 24 hours while message volume increased from ‘low’ to ‘extremely high’ levels.

NKTR's Sentiment Meter and Message Volume as of 12 p.m. ET on June 24, 2025 | Source: Stocktwits

A Stocktwits user expects the user to jump as much as 150% later today.

NKTR stock is up by 66% this year and by about 32% over the past 12 months.

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