Nektar Sinks 19% Despite Durable Hair Loss Data; Analysts See Positive Read-Through for Q32 Bio
NKTR sits 45% above its 52-week low of $33.4 on elevated volume (2.8× avg).
Summary
Nektar shares dropped 19% to $49.15 on Thursday, the largest one-day decline since February 2023, even as the company reported durable hair regrowth data for rezpegaldesleukin in alopecia areata. The Phase 2b extension showed 29-31% of patients achieved at least 80% scalp coverage after one year, with 63% maintaining that coverage six months after stopping treatment. The sell-off likely reflects profit-taking after a strong run and the market's focus on competitive dynamics. H.C. Wainwright analysts called the data a positive read-through for Q32 Bio's bempikibart, sending Q32 shares down 3.8%. This follows the earlier Reuters report on the same data, but the market reaction and analyst commentary are new. The stock remains up 17% year-to-date despite today's drop.
At the time of this announcement, NKTR was trading at $48.58 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $33.40 to $109.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.