Nektar Therapeutics reported positive blinded maintenance data from its 52‑week Phase IIb REZOLVE‑AD trial of rezpegaldesleukin (rezpeg) in moderate‑to‑severe atopic dermatitis, driving a sharp rally in the company’s shares and a swift $460 million public offering. The data showed strong EASI‑75 and EASI‑90 response rates and meaningful itch resolution among maintenance‑dosed patients. Company commentary and investigator statements detail durable responses for monthly and quarterly maintenance schedules and outline an agreed induction regimen with FDA for upcoming Phase III plans. Nektar said it will initiate a Phase III program later this year with the aim of advancing a BLA by 2029. Management framed the results as a strategic inflection following prior setbacks, and investors responded by supporting capital raises to fund late‑stage development and regulatory activities.