Nektar Therapeutics announced successful Phase 2b results for rezpegaldesleukin (rezpeg), an IL-2 pathway agonist, in moderate to severe atopic dermatitis. The drug hit primary and secondary endpoints for skin clearance, leading to significant stock price gains. Rezpeg aims to stimulate regulatory T-cell proliferation and is also being investigated for alopecia areata. However, analysts note that cross-trial comparisons suggest results may fall short of established therapies like Dupixent. The data reflect renewed investor confidence in Nektar’s immunomodulatory drug development efforts.