Nektar Therapeutics: Rezpegaldesleukin Shows Durable 52‑Week REZOLVE‑AD Results, Raises $400M

Nektar posts positive 52‑week REZOLVE‑AD outcomes

Rezpegaldesleukin delivers durable disease control and validates Treg approach

Nektar Therapeutics reports sustained clinical benefit at 52 weeks from its global REZOLVE‑AD Phase 2b study of rezpegaldesleukin, a first‑in‑class regulatory T‑cell (Treg) biologic for moderate‑to‑severe atopic dermatitis. In the trial, 393 patients are randomized to three induction doses or placebo for 16 weeks, with responders re‑randomized to continue the same dose monthly (Q4W) or quarterly (Q12W) during a blinded 36‑week maintenance period. The 24 µg/kg Q4W and Q12W maintenance regimens show the highest durability, with 71% and 83% of patients maintaining EASI‑75 at week 52 respectively, and strong maintenance of vIGA‑AD 0/1 and Itch NRS endpoints.

The company reports meaningful deepening of responses over time, including marked increases in complete clearance rates. Among re‑randomized patients, Q4W maintenance increases EASI‑100 rates from 4% at the end of induction to 22% at week 52, while Q12W also produces notable gains across EASI‑90 and itch measures. Safety is favourable and consistent with prior rezpegaldesleukin data, with no new safety signals reported during the blinded maintenance period. Patients who do not achieve EASI‑50 during induction enter a treatment‑escape arm for up to 36 weeks, enabling evaluation of benefit in a broader population.

Nektar says the durability of maintained responses and the blinded maintenance findings support advancement into a pivotal Phase 3 programme that will evaluate both monthly and quarterly maintenance dosing. The results underscore the potential of a Treg‑centric mechanism as a differentiated immune‑modulating approach in atopic dermatitis and inform design considerations for registrational studies. The company hosts a conference call and webcast to discuss the data and next steps.

Funding move to support Phase 3 and manufacturing

Nektar concurrently initiates an underwritten public offering intended to raise up to $300 million, with an underwriters’ 30‑day option for an additional $45 million, and subsequently prices an upsized offering of approximately $400 million by selling 6,603,449 shares and 293,103 pre‑funded warrants at $58.00 per share (or $57.9999 per pre‑funded warrant). Proceeds are earmarked for general corporate purposes, including research and development, clinical development of rezpegaldesleukin and manufacturing to support advancement of its drug candidates. Jefferies, TD Cowen and Piper Sandler are joint bookrunners on the transactions.