Nektar Therapeutics posts 26-28% alopecia trial response, shares surge 21.5%, PT to $185
Nektar Therapeutics' IL-2 variant rezpegaldesleukin achieved 26-28% response rates in the Phase 2b alopecia areata trial versus 7% for placebo, driving a 21.5% stock surge to a fresh 52-week high. H.C. Wainwright raised its price target from $165 to $185 after the data, extending the shares' two-month rally to 129%.
1. Phase 2b Alopecia Areata Trial Results
Nektar’s Phase 2b REZOLVE-AA study of rezpegaldesleukin showed 26% and 28% response rates in two dosage cohorts versus about 7% for placebo, registering clinically meaningful hair regrowth on SALT scores and maintaining a favorable safety profile.
2. Stock Surge and Two-Month Rally
The positive trial data propelled shares up 21.5% to a new 52-week high, contributing to a 129% gain over the past two months as investors priced in the therapy’s commercial and regulatory potential.
3. Analyst Price Target Increase
H.C. Wainwright boosted its price target from $165 to $185, highlighting the robust efficacy results and the clearer path toward regulatory approval in treating alopecia areata.
4. Future Outlook and Milestones
The Phase 2b success sets the stage for a Phase 3 program, with upcoming readouts, regulatory interactions and potential partnering discussions poised to shape the company’s development timeline and long-term valuation.