Nektar Therapeutics (NKTR) Monday said that the U.S. Food and Drug Administration or FDA has granted Fast Track designation for its drug candidate rezpegaldesleukin for the treatment of atopic dermatitis in patients aged 12 years and older. The company's shares were more than 15 percent up in the pre-market.
A Phase 2b study of rezpegaldesleukin dubbed REZOLVE-AD is underway, with topline data from the induction period expected in the second quarter of this year.
A drug candidate that receives Fast Track designation is eligible for more frequent meetings and written interactions with the FDA to discuss the drug candidate's development plan as well as possible eligibility for rolling review and priority review.
Nektar Therapeutics stock had closed at $0.6760, down 3.57 percent on Friday. It has traded in the range of $0.63 - 1.93 in the last 1 year.
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