The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired Nektar Therapeutics (“Nektar” or the “Company”) (NASDAQ: NKTR) securities between February 26, 2025 and December 15, 2025, inclusive (the “Class Period”). Nektar investors have until May 5, 2026 to file a lead plaintiff motion.

What Happened?

On December 16, 2025, Nektar announced “topline results from the 36-week induction treatment period of the Phase 2b REZOLVE-AA trial of” its alopecia areata treatment, rezpegaldesleukin, disclosing that the trial failed to reach statistical significance, which Nektar attributed to the inclusion of four patients who should not have been eligible to participate.

On this news, Nektar’s stock price fell $4.14, or 7.8%, to close at $49.16 per share on December 16, 2025, thereby injuring investors.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) enrollment in the REZOLVE-AA trial had not followed applicable instructions and protocol standards; (2) the foregoing was likely to have a significant negative impact on the REZOLVE-AA trial’s results; (3) accordingly, the REZOLVE-AA trial’s overall integrity and prospects were overstated; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.