Nektar Therapeutics (NKTR) Jumps 116% in Premarket After Positive Trial Results

Nektar Therapeutics (NASDAQ: NKTR) shares skyrocketed over 116% in premarket trading on June 24, 2025, reaching $20.64 after announcing highly positive results from its Phase 2b REZOLVE-AD clinical trial.

The biotech company reported that its investigational drug rezpegaldesleukin met the primary endpoint for treating moderate-to-severe atopic dermatitis, a chronic inflammatory skin condition affecting millions of patients worldwide.

This breakthrough represents a significant milestone for the company’s lead immunology program and validates its novel regulatory T-cell approach to treating autoimmune diseases.

Trial Success Drives Major Stock Rally for Nektar Therapeutics

The dramatic stock surge came after Nektar announced that its Phase 2b REZOLVE-AD study of rezpegaldesleukin achieved statistically significant improvements across all dosing groups compared to placebo.

The 393-patient trial demonstrated a 42% EASI-75 response rate in the high-dose group, meaning nearly half of patients experienced at least 75% improvement in their skin condition scores. This represents a major breakthrough for patients with moderate-to-severe atopic dermatitis, a debilitating condition that affects approximately 30 million Americans and often leaves patients with limited treatment options.

Notably, rezpegaldesleukin works through a completely different mechanism than existing treatments. Rather than simply blocking inflammatory signals, the drug actually stimulates regulatory T-cells (Tregs) that help restore immune system balance.

This approach addresses the underlying immune dysfunction that drives atopic dermatitis, potentially offering patients longer-lasting relief with fewer side effects than current therapies. The trial also showed significant improvements in secondary endpoints, including itch relief and overall disease severity scores. Importantly, the drug demonstrated a favorable safety profile with mainly mild-to-moderate injection site reactions as the most common side effect, suggesting it could be well-tolerated for long-term use.

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NKTR Stock Performance and Market Outlook

NKTR stock closed at $9.54 on June 23, 2025, representing a 12.10% gain for the regular trading session. However, the real fireworks began in premarket trading on June 24, with shares surging to $20.64, a remarkable 116.35% increase that added significant value to the company’s market capitalization.

The stock had previously traded as high as $22.80 in its 52-week range, making the premarket surge particularly noteworthy as it approached previous highs. The biotech sector has been volatile in 2025, but successful clinical trial readouts continue to drive significant investor interest. Wall Street analysts have been bullish on NKTR heading into these results, with an average 12-month price target of $73.75 according to recent analyst coverage.

The company’s market cap of approximately $118 million prior to the announcement represented what many investors viewed as attractive valuation given the potential of the rezpegaldesleukin program. Looking ahead, Nektar plans to continue the long-term maintenance study through Q1 2026, with additional Phase 2b data for alopecia areata expected in Q4 2025.

The company’s cash position of $220.7 million as of March 2025 provides runway to support operations into Q4 2026, giving investors confidence in the company’s ability to advance its pipeline programs without immediate dilution concerns.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.