Nektar Therapeutics reported promising Phase 2b results for rezpegaldesleukin, an IL-2 pathway agonist targeting atopic dermatitis. The drug demonstrated significant skin clearance improvements, doubling the company’s share price despite data not fully surpassing Dupixent’s benchmarks. Additional data in severe alopecia areata were noted. This breakthrough underscores Nektar’s potential resurgence in immunotherapy, though analysts highlight the need for differentiation in a competitive dermatological market.