Two midstage readouts moved market expectations in atopic dermatitis: Evommune reported phase IIa success with its long‑acting IL‑18 fusion (EVO301) and saw a steep stock rally, while Nektar said its IL‑2‑targeting rezpegaldesleukin maintained deep skin‑clearance responses at one year when switched to maintenance dosing. Both companies presented data showing statistically significant and sustained clinical benefit versus placebo in different trial designs. Evommune positioned EVO301 as potentially competitive with existing biologics by achieving Dupixent‑like EASI reductions at an early timepoint; management flagged dose optimization as a lever to improve effect size. Nektar’s maintenance results emphasize less‑frequent dosing could preserve or deepen responses, a commercial differentiator if confirmed in registrational trials.