By Nektar Therapeutics’ stock (NKTR) experienced a significant increase of 12.7% in premarket trade on Monday. The surge followed the company’s announcement that the efficacy data previously presented for its atopic dermatitis treatment rezpegaldesleukin at the Sept. 22 EADV Congress was incorrectly calculated by its former partner, Eli Lilly & Co. (LLY).
Newly discovered and corrected data revealed that 12 weeks of rezpeg therapy, at the highest dose, resulted in an 83% improvement in the Eczema Area and Severity Index (EASI) score compared to a placebo, with a p-value of 0.002. Additionally, an EASI-75 response rate of 41% was achieved. The EASI score is a tool used to measure the extent and severity of atopic eczema.
Nektar stated that it became aware of these errors when all rights to rezpeg were returned, along with the raw data files. This allowed the company to review the complete patient data files for the first time. An independent statistical firm was then employed to analyze the raw data and provide the new and corrected data, which was confirmed by Lilly in written communications with Nektar.
The CEO of Nektar, Howard W. Robin, expressed optimism about the corrected data, stating, “These corrected data importantly demonstrate that REZPEG, a novel and differentiated T regulatory cell mechanism, holds great promise for treating patients with atopic dermatitis.”
In light of the corrected data, Nektar is planning to hold an investor meeting in the coming weeks to discuss both the corrected data and new findings from a 36-week follow-up. Additionally, the company has plans to commence a Phase 2b study in October.
Despite a year-to-date decrease of 76% in Nektar’s stock, as compared to the S&P 500’s 17% gain, the corrected data has generated renewed optimism and interest in the future potential of rezpeg therapy.
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