In This Article:
Release Date: May 08, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Nektar Therapeutics (NASDAQ:NKTR) is advancing its immunology pipeline, focusing on ResPEGaldu leukin (ResPEG) in three separate phase 2 studies.
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The company plans to share top-line results from a 400-patient phase 2b study for ResPEG in atopic dermatitis in June 2025.
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Nektar Therapeutics (NASDAQ:NKTR) is in a strong financial position with a cash runway extending into the fourth quarter of 2026.
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The company is progressing with IND enabling studies for its TNFR2 agonist antibody program, Nectar 165, and expects to submit an IND filing in 2025.
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Nektar Therapeutics (NASDAQ:NKTR) has a collaboration with the Fred Hutchinson Cancer Center, with data from their study being presented at the European Hematology Association congress.
Negative Points
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Nektar Therapeutics (NASDAQ:NKTR) reported a net loss of $50.9 million for the first quarter of 2025.
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The company's revenue for the first quarter was $10.5 million, primarily from non-cash royalty revenue, and is expected to remain at similar levels throughout 2025.
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There is uncertainty regarding the placebo response rate in the phase 2b study for atopic dermatitis, which could impact the study's outcomes.
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Nektar Therapeutics (NASDAQ:NKTR) acknowledges it may not have the financial capacity to execute a full phase 3 program without a partner.
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The company is involved in litigation with Lilly, which could pose additional risks and uncertainties.
Q & A Highlights
Q: Could you remind us what you hope to see in Resolve AD to move forward into a phase 3? And is your plan to move forward with one or two doses for that? Also, what is your expectation for the placebo response in Resolve AD? A: (Jay-Z, Chief Research and Development Officer) We aim to replicate the efficacy seen in phase 1 and compare results against key benchmarks like Dupixent. Ideally, we would identify a clear dose regimen to take forward into phase 3. Regarding placebo response, we expect a lower rate than the 47% seen in phase 1, due to measures like enrolling only 17% of patients in the US and using board-certified dermatologists.
Q: On the phase 2B atopic dermatitis data, how many patients have progressed to the maintenance portion of the trial so far, and how many have crossed over to the escape arm? Are you blinded to that? A: (Jay-Z, Chief Research and Development Officer) We can't disclose that information right now, but we will provide those details along with the top line results next month.