NKTR Investor Alert: Nektar Therapeutics Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Allegedly Concealing Known Trial Defects: SueWallSt

The Red Flags: What Insiders Allegedly Knew Before Shareholders Did

NEW YORK , April 23, 2026 /PRNewswire/ -- SueWallSt announces that a securities class action has been filed against Nektar Therapeutics (NASDAQ: NKTR).

YOU MAY BE AFFECTED IF YOU:

• Purchased NKTR stock between February 26, 2025 and December 15, 2025
• Lost money on your Nektar investment

Submit your information to recover losses  or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com  or (888) SueWallSt.

Nektar shares fell $4.14 per share, or 7.77%, closing at $49.16 on December 16, 2025 after the Company disclosed that four ineligible patients had been enrolled in its pivotal REZOLVE-AA Phase 2b trial, causing the primary endpoint to miss statistical significance.

What They Allegedly Knew

The securities action alleges that throughout a ten-month Class Period, Nektar's senior leadership repeatedly assured investors that enrollment in the REZOLVE-AA trial followed strict protocol standards and eligibility criteria. These assurances were made across multiple earnings calls, SEC filings, and press releases from February through November 2025. Yet on December 16, 2025, when topline results were announced, the Company admitted that four patients had "major study eligibility violations that should have disqualified them for randomization into the trial."

The lawsuit contends this was not a surprise to insiders. Rezpegaldesleukin was Nektar's lead product candidate, and executives' 2024 annual bonuses were tied directly to maintaining enrollment timelines for the REZOLVE-AA trial.

The Red Flags That Emerged

• Two patients had unstable alopecia areata diagnosed less than six months prior to randomization, a standard exclusion criterion that the Company itself repeatedly publicized
• Two additional patients began treatment before completing the required eight-week washout period for prior alopecia areata medications
• These protocol violations occurred at trial sites that were part of an approximately 30-site global network that defendants claimed was subject to "unique operational features" designed to "minimize clinical operational risk"
• Executive bonus criteria specifically included maintaining enrollment schedules for the REZOLVE-AA trial, creating alleged incentives to overlook enrollment deficiencies
• The Company raised $115 million in a July 2025 public offering while these enrollment issues allegedly existed
• The CEO sold 46,986 shares of common stock during the Class Period, enriching himself by nearly $1 million

Inside Knowledge vs. Public Statements

As plaintiffs assert, the gap between what was said publicly and what was allegedly known internally is central to this case. On every quarterly earnings call during the Class Period, the Company's Chief Research and Development Officer detailed the enrollment criteria, including SALT score thresholds, six-month disease stability requirements, and washout periods. The complaint charges that these repeated, specific assurances about protocol compliance were made while enrollment violations had already occurred or were known to have occurred.

Multiple analyst firms, including Piper Sandler, BTIG, Jefferies, Oppenheimer, H.C. Wainwright, William Blair, and Citi, attributed the December 16 stock decline specifically to the revelation of the four ineligible patients.

"The timeline raises important questions about when certain risks were known internally versus when they were disclosed to the investing public. Investors who purchased shares in reliance on repeated assurances about trial protocol compliance deserve answers."  -- Joseph E. Levi, Esq.

Act now to protect your rights  or call Joseph E. Levi, Esq. at (212) 363-7500.

ABOUT THE FIRM -- Levi & Korsinsky represents investors in securities class actions nationwide, with a track record of recovering hundreds of millions for shareholders harmed by alleged corporate concealment. Ranked among ISS Top 50 for seven consecutive years. Lead plaintiff applications must be submitted by May 5, 2026.

CONTACT:

SueWallSt

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@SueWallSt.com

Tel: (888) SueWallSt

Fax: (212) 363-7171

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SOURCE SueWallSt.com