Nektar Therapeutics (NKTR) Surges 26.02% as Sanofi's Underwhelming AD Trial Highlights Competitive Edge

Nektar Therapeutics (NKTR) surged 26.02% on Wednesday, reaching its highest level since September 2025, with an intraday gain of 27.43%. The rally reflects renewed investor confidence in the biotech firm’s competitive positioning and upcoming strategic milestones.

The stock’s momentum was fueled by Sanofi’s underwhelming Phase 3 trial results for amlitelimab in atopic dermatitis (AD), which highlighted Nektar’s rezpegaldesleukin (REZPEG/NKTR-358) as a superior alternative. While Sanofi’s candidate met endpoints, its 20% improvement in EASI-75 scores lagged behind historical benchmarks and Nektar’s Phase 2b data, where REZPEG achieved 53–61% symptom improvement. The disparity underscored Nektar’s clinical differentiation in a crowded AD market dominated by therapies like Dupixent.

Anticipation for investor engagement also bolstered sentiment. Nektar announced participation in high-profile conferences in late September, including the H.C. Wainwright and Stifel forums, where management will present updates on its pipeline. REZPEG’s progress in AD and alopecia areata, alongside emerging programs like TNFR2 antibodies (NKTR-0165/0166) and IL-15 receptor agonist NKTR-255, position the company as a multi-disease innovator. These events catalyzed a 26% surge on the announcement day, with shares closing at $35.98.

Strategic pipeline diversification further supports Nektar’s long-term appeal. Beyond REZPEG, the firm is advancing therapies targeting immune modulation and oncology, including hematopoietic CSF protein NKTR-422 and TNFR2 antibodies. These programs emphasize first-in-class mechanisms, reducing reliance on generic competition and expanding therapeutic reach. Upcoming conference presentations are expected to clarify clinical and commercial potential, potentially attracting new partnerships or investors.

The AD market’s competitive dynamics and REZPEG’s EASI-90 efficacy—showing over 90% improvement in disease severity—have reshaped investor perceptions. Nektar’s regulatory T cell stimulator mechanism offers a novel approach, addressing unmet needs in patient populations resistant to existing treatments. As the company prepares for its September events, market focus will remain on REZPEG’s Phase 2b trial updates and potential collaborations, which could validate its growth trajectory in immunology and oncology.