BUZZ-Nektar falls after autoimmune disorder drug misses main goal in mid-stage study

Reuters12-16
BUZZ-Nektar falls after autoimmune disorder drug misses main goal in mid-stage study

** Shares of drug developer Nektar Therapeutics NKTR.O fall 6.8% to $50 premarket

** Co says its experimental drug for alopecia areata, rezpegaldesleukin, narrowly missed the main goal of achieving statistically significant reduction in severity in a mid-stage study

** Says both treatment arms met statistical significance on the main goal when excluding four patients with major study eligibility violations

** Alopecia areata is an autoimmune condition where the body's immune system attacks hair follicles, causing patchy hair loss on the scalp

** Co plans to move into late-stage development for the drug in 2026

** As of last close, stock has more than tripled YTD

(Reporting by Christy Santhosh and Kamal Choudhury)

((Christy.Santhosh@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment