Nektar Therapeutics (NASDAQ:NKTR) shares are up more than 70% Monday morning as the company released new efficacy data from phase 1b studies from rezpegaldesleukin (REZPEG) after the data were previously incorrectly calculated by Eli Lilly.
The new and corrected data highlight the important potential of REZPEG to help patients battling atopic dermatitis (AtD), a chronic skin condition that afflicts nearly 10% of Americans, Nektar said in a statement.
Specifically, the new and corrected data from the AtD study demonstrate that 12 weeks of REZPEG therapy at the highest dose resulted in a mean Eczema Area and Severity Index (EASI) score improvement of 83% with a p-value of 0.002 as compared to placebo and an EASI-75 response rate of 41%, the company added.
In April, Nektar said it would regain the full rights to REZPEG - an investigational treatment for systemic lupus erythematosus - from Lilly after its partner decided not to proceed with phase 3 development.
Phase Ib data for REZPEG in AtD were presented at an investment presentation made by Lilly in December 2021 and at the 2022 European Academy of Dermatology (EADV).
"These corrected data importantly demonstrate that REZPEG, a novel and differentiated T regulatory cell mechanism, holds great promise for treating patients with atopic dermatitis," Nektar president and CEO Howard Robin said.
"The data further reinforce the importance of Nektar's renewed strategic focus on advancing REZPEG into a robust Phase 2b study in biologic-naïve patients with moderate to severe atopic dermatitis by October of this year."
Shortly before noon, the company’s shares were more than 70% higher at $0.91.
Contact the author at stephen.gunnion@proactiveinvestors.com