10:41 AM EDT, 09/04/2025 (MT Newswires) -- Nektar Therapeutics ( NKTR ) shares rose by 18% in Thursday trading after late-stage trial results from Sanofi's ( SNY ) competing atopic dermatitis drug, amlitelimab, failed to meet investor expectations.

Sanofi ( SNY ) said that amlitelimab met all primary and key secondary endpoints in a phase 3 study in adults and adolescents with atopic dermatitis, but analysts said the improvement was less than for its Dupixent drug, which treats the same condition.

"The data fell short of market expectations and appeared less compelling than Dupixent," analysts at CFRA said it a note. "We view the update as disappointing," the analysts said.

Nektar is currently developing its own atopic dermatitis treatment and said in June that its phase-2b study of Rezpegaldesleukin met primary and key secondary endpoints.

Shares of Sanofi ( SNY ) were down 7.8% in recent trading.

Price: 34.00, Change: +5.45, Percent Change: +19.09