Nektar rockets on new, corrected Rezpeg efficacy data

8 August 2023

Nektar Therapeutics’ (Nasdaq: NKTR) shares closed up a massive 82.6% at $0.98 yesterday, after it revealed announced that efficacy data previously generated by former partner Eli Lilly (NYSE: LLY) for Rezpeg (rezpegaldesleukin) that were presented at the September 2022 EADV Congress were incorrectly calculated by Lilly.

The erroneous data is from two Phase Ib studies for Rezpeg that were conducted by 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.

On the basis of a study of rezpegaldesleukin as a treatment for systemic lupus erythematosus (SLE) that did not achieve its goals, Lilly returned rights for the candidate to Nektar in April this year.

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