Why Is Nektar (NKTR) Stock Up 17% Premarket Today? Positive AD Trial Data

Nektar Therapeutics (NASDAQ: NKTR) shares surged in premarket trading on Tuesday, February 10, 2026, climbing 14.38% to $42.40 as of 8:03 AM EST, following the release of highly encouraging maintenance data from the company’s REZOLVE-AD Phase 2b clinical trial. The San Francisco-based clinical-stage biotechnology company announced that its investigational drug rezpegaldesleukin demonstrated durable and impressive response rates in patients with moderate-to-severe atopic dermatitis across both monthly and quarterly dosing regimens.

The positive results validate the novel regulatory T-cell mechanism and support the company’s plans to advance to pivotal Phase 3 studies with a goal of submitting a Biologics License Application in 2029.

REZOLVE-AD Results Show Durable Responses Through 52 Weeks

The REZOLVE-AD trial’s maintenance period results demonstrated that 71% and 83% of patients maintained EASI-75 responses with 24 µg/kg monthly and quarterly dosing respectively, while 85% and 63% maintained vIGA-AD 0/1 responses with the same dosing schedules.

Perhaps most notably, the company reported a 2 to 5-fold increase in EASI-100 response rates, indicating complete clearance of skin lesions. Among all re-randomized patients from week 16 to week 52, monthly maintenance dosing increased EASI-100 response from 4% to 22%, while quarterly dosing increased EASI-100 response from 9% to 18%.

The global Phase 2b study enrolled 393 patients with moderate-to-severe atopic dermatitis across approximately 110 sites globally. Following a 16-week induction period, patients who achieved at least 50% improvement in their EASI scores were re-randomized to continue treatment either monthly or quarterly for an additional 36 weeks.

The safety profile remained favorable, with rezpegaldesleukin well-tolerated and a discontinuation rate due to adverse events of only 3.5% for all aggregated patients.

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NKTR Stock Metrics and Recent Trading Trends

Prior to the premarket surge, NKTR closed at $37.07 on February 9, 2026, representing a gain of $0.26 or 0.71% from the previous session. The stock has experienced remarkable volatility over the past year, with a 52-week range between $6.45 and $66.92, and has delivered an impressive 263.43% return over the past 12 months.

With a market capitalization of approximately $754 million, the company remains in a strong financial position with total cash of $270.21 million as of the most recent quarter.

Analyst consensus remains bullish on the stock, with an average price target of $114.43 and a high target of $135.00, suggesting significant upside potential from current levels. The positive REZOLVE-AD maintenance data reinforces the therapeutic promise of the regulatory T-cell mechanism for treating atopic dermatitis, a condition affecting approximately 30 million people in the United States.

Nektar’s CEO Howard W. Robin stated the company looks forward to advancing to Phase 3 studies quickly, with rezpegaldesleukin potentially offering compelling efficacy and safety advantages compared to current treatment mechanisms.

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.