Nektar Therapeutics (NKTR) Jefferies 2024 Global Healthcare Conference summary

Litigation and business updates

• Ongoing litigation with a former partner is in the discovery phase, with a trial date set for over a year from now; the company claims significant development delays and potential damages.

• Focus remains on executing Phase 2b studies and advancing the pipeline despite litigation.

Rezpeg program and clinical development

• Rezpeg is a pegylated IL-2 designed to selectively expand Treg cells, offering full agonist activity and long exposure, differentiating it from IL-2 muteins.

• Phase 1b studies in skin diseases showed robust, dose-dependent efficacy, including sustained responses after drug withdrawal, a feature not seen with current standards of care.

• Phase 2b in atopic dermatitis mirrors the successful Phase 1b design, with a larger sample size, longer induction, and maintenance regimens; data expected in the first half of 2025.

Alopecia areata and pipeline strategy

• Alopecia areata was chosen as a second indication due to its immune-mediated skin pathology and the potential for durable off-drug responses.

• Phase 2b alopecia study began in March, enrolling 84 patients, with data expected a few months after the atopic dermatitis readout in 2025.

• The company is open to partnerships for late-stage development, with decisions to be made after Phase 2b data.