Apr. 1 at 2:06 PM
Oppenheimer reiterated
$NKTR Outperform;
$140, and said: Nektar presented detailed results from Ph2b REZOLVE-AA at AAD 2026, driving significant investor interest in biologics for AA.
$APGE REGN KYMR CLDX
$CRVS
Oppenheimer additionally said: We anticipate additional data from the blinded 16-week extended treatment period in April.
Stepping back, while the market reacted negatively to the initial topline data from REZOLVE-AA in December, we nevertheless see meaningful opportunities for biologics in AA, and believe investor attention on AA has increased, particularly following the recent impressive maintenance data for rezpeg in REZOLVE-AD.
While given the specific entry criteria and relatively small sample size, the upcoming 16-week extension update may not be a huge binary event, this update could still drive decent upside by strengthening rezpeg's AA opportunity and informing Ph3 study design.
