Nektar Therapeutics (NKTR) Earnings Call Transcripts
Nektar Therapeutics's Latest Earnings Call - April 20, 2026
In the first quarter of 2026, Nektar Therapeutics reported significant progress in its REZOLVE-AA Phase IIb study for REZPEG, demonstrating promising efficacy in treating alopecia areata. The company highlighted a 27.6% SALT 20 response rate at 52 weeks, up from 15.6% at 36 weeks, indicating a potential for improved patient outcomes with extended treatment. Management maintained its guidance for the Phase III trial, set to begin mid-2026, and expressed confidence in REZPEG's competitive positioning against existing JAK inhibitors, which are expected to shift to second-line treatments. Revenue and earnings specifics were not disclosed, but the positive clinical data could enhance investor sentiment and stock performance moving forward.
Reported metrics
| Metric | Value |
|---|---|
| SALT 20 Response Rate | 27.6% (beat) |
| Patient Completion Rate | 94% (beat) |
| Statistical Significance (p-value) | 0.049 (beat) |
| Market Opportunity | $40 billion (positive) |
| Safety Findings | null (positive) |
| Phase III Trial Start Date | Mid-2026 (positive) |
Guidance from management
Management maintained its guidance for the Phase III trial, indicating confidence in REZPEG's potential as a first-in-class treatment for alopecia areata and other autoimmune diseases.
What management said
Sure. Julian, thank you for the questions. I can take your second part first. We do know that all patients that achieved a SALT 20 prior to week 36, maintained their SALT 20 through to treatment. We are going to follow those patients now off treatment. It's a blinded 24-week period, and we will have the data for the durability of those SALT 20 responses in the fourth quarter of this year. And then with respect to y...
Great. So I'll just start with your second one, Sam. In terms of the off treatment, right now, that's a blinded period. And so we have not looked at any of the data off treatment. Again, as I just mentioned to Julian, on treatment, we know that no patient relapsed who achieved a SALT 20. So we will have those data in the fourth quarter of this year. And then we'll start in the other order, Benjie, if you could addres...
What analysts pressed on
Analysts expressed concerns regarding the efficacy ceiling for REZPEG compared to JAK inhibitors and the potential for patient retention in the Phase III trial. There were also questions about the treatment duration and dosing frequency for optimal patient outcomes.
Main topics on the call
- Efficacy of REZPEG in Alopecia Areata — The Phase IIb REZOLVE-AA study showed a SALT 20 response rate increase from 15.6% at 36 weeks to 27.6% at 52 weeks, with a p-value of 0.049 indicating statistical significance. Management stated, "This demonstrates that ...
- Phase III Trial Initiation — Nektar plans to initiate the Phase III ZENITH-AD studies in atopic dermatitis around mid-2026, with pivotal data expected by mid-2028. Management emphasized the importance of the upcoming trial, stating, "The totality of...
- Safety Profile of REZPEG — The safety profile of REZPEG remains favorable, with no new safety findings reported during the study. Management noted, "No patients discontinued treatment during the 16-week extension due to an adverse event and nearly...
- Market Opportunity — Management highlighted the significant market potential, estimating that the global markets for alopecia areata and atopic dermatitis could reach nearly $40 billion over the next five years. They stated, "There remains a...
Read the full Nektar Therapeutics transcript (April 20, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Nektar Therapeutics
Nektar Therapeutics (NKTR) is a publicly listed company in the Pharmaceuticals industry, within the Health Care sector. It trades on NasdaqCM and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 53 calls on record spanning January 13, 2020 to August 13, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 53 Nektar Therapeutics earnings call transcripts on record, spanning January 13, 2020 to August 13, 2026. Based on this history, Nektar Therapeutics reports quarterly. The most recent call on file is dated August 13, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- NKTR
- Exchange
- NasdaqCM
- Country
- US
- Sector
- Health Care
- Industry
- Pharmaceuticals
- Calls on record
- 53
- First call
- January 13, 2020
- Most recent
- August 13, 2026
- Reporting cadence
- quarterly