Nektar Therapeutics' autoimmune disease drug fails mid-stage study

[February 24, 2023]  (Reuters) - Nektar Therapeutics said on Thursday its experimental drug, developed in collaboration with Eli Lilly, to treat autoimmune disease systemic lupus erythematosus (SLE), had failed a mid-stage study.

The drug, rezpeg, did not meet the primary goal of a 4-point reduction on SLEDAI-2K score, a global scoring index that measures disease activity in SLE patients and ranges from 0 to 105.

Nektar said Lilly does not intend to advance the drug for a late-stage study, but they will work together to determine the next steps for the planned mid-stage of the drug in patients with skin condition, atopic dermatitis.

Shares of Nektar fell 34.5% to $1.97 after the bell.

Nektar in 2017 entered a strategic collaboration with Lilly to develop and potentially commercialize the drug to treat SLE and atopic dermatitis.

SLE is a chronic autoimmune disease, where the immune system that normally helps protect the body from infection and diseases, attacks its own tissues causing inflammation.

(Reporting by Khushi Mandowara in Bengaluru; Editing by Shinjini Ganguli)

[© 2023 Thomson Reuters. All rights reserved.]This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.