US Stock Market Move | The drug trial for alopecia achieved expected results, and Nektar Therapeutics (NKTR.US) soared over 24%.

On Monday, Nektar Therapeutics (NKTR.US) surged over 24% in early trading, with a cumulative increase of 150% for the year. On the news front, on April 20, Nektar Therapeutics announced the 52-week topline results of its phase 2b REZOLVE-AA study extension for its baldness treatment drug rezpegaldesleukin. The data showed that in the 18 g/kg and 24 g/kg dose groups, 29% and 31% of patients, respectively, achieved a new SALT score 20 from week 36 to week 52, and 94% of patients completed the treatment extension with clinically meaningful hair regrowth. After the release of the extended baldness study treatment results, Oppenheimer reiterated its "outperform the market" rating on Nektar Therapeutics stock and a target price of $140.00, believing that the comprehensive SALT 20 response rate in the 24 g/kg dose group at week 52 is approximately 28%, within its best-case scenario range.