NKTR

Nektar Therapeutics (NKTR) initiated two Phase III studies (ZENITH AD-1 and ZENITH AD-2) for rezpeg in atopic dermatitis in July 2026, with top-line data expected mid-2028. The company plans Phase III studies for alopecia areata in early 2027 and expects Type I diabetes data in 2027.

Rezpeg, a self-administered injection that activates regulatory T-cells, faces competition from established players like Sanofi/Regeneron's Dupixent. NKTR trades at a valuation discount to the industry with a Zacks Rank #3 (Hold) rating.