Nektar Therapeutics (NASDAQ:NKTR) saw its stock jump 13% Thursday morning following underwhelming clinical results from Sanofi’s (NASDAQ:SNY) amlitelimab therapy for atopic dermatitis.
The surge appears to reflect Nektar’s strengthened competitive position. Although Sanofi’s amlitelimab met primary and secondary endpoints in its Phase 3 COAST-1 trial, market analysts noted the efficacy fell short of expectations.
This outcome could bolster the outlook for Nektar’s lead candidate, rezpegaldesleukin (REZPEG), a regulatory T cell stimulator currently in Phase 2b trials for both atopic dermatitis and alopecia areata. In June, Nektar reported that its REZOLVE-AD Phase 2b study achieved both primary and key secondary endpoints in patients with moderate-to-severe atopic dermatitis.
Nektar Therapeutics specializes in therapies targeting underlying immune system dysfunction in autoimmune and chronic inflammatory diseases. Its REZPEG (NKTR-358) is positioned as a first-in-class regulatory T cell stimulator.
The market response suggests investors view Sanofi’s disappointing results as a potential advantage for Nektar, enhancing its competitive standing in the atopic dermatitis treatment space.
Nektar Therapeutics stock price
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