Nektar Therapeutics is a clinical biotechnology company focused on the development of drugs for autoimmune and chronic inflammatory diseases.[2] The lead candidate rezpegaldesleukin (REZPEG or NKTR-358) is a first-in-class regulatory T-cell stimulator, tested in two phase 2b trials – in atopic dermatitis and alopecia areata – and in a phase 2 trial in type 1 diabetes mellitus.[2] In the REZOLVE-AD study, rezpegaldesleukin achieved statistically significant success on the primary endpoint at 16 weeks: mean percent change in EASI score versus placebo in all dose groups.[1] Key secondary endpoints at 16 weeks, including EASI-75, EASI-90, Itch NRS, vIGA-AD, and BSA, were also statistically significant.[1] Data showed a rapid onset of EASI reduction and a large degree of improvement in pruritus.[1] The company reported 52-week atopic dermatitis data in early 2026 and alopecia areata data in December 2025.[1] Preclinical IND studies for NKTR-0165 targeting the TNFR2 receptor are underway with a plan to enter the clinic in 2026, and preclinical studies of the bispecific antibody NKTR-0166 are underway.[1]