Update: Nektar Wins $90 Million Jury Verdict Against Eli Lilly Over Rezpegaldesleukin Deal

10:46 AM EDT, 09/25/2026 (MT Newswires) -- (Updates to add Eli Lilly's response in the fifth and sixth paragraphs.) Nektar Therapeutics (NKTR) said in a Securities and Exchange Commission filing Friday that a jury awarded it $90 million in damages against Eli Lilly (LLY), finding that Lilly breached the implied covenant of good faith and fair dealing under an agreement related to the development and commercialization of rezpegaldesleukin. Rezpegaldesleukin is intended to treat autoimmune and inflammatory diseases. The case stems from a lawsuit Nektar filed in August 2023 in the US District Court for the Northern District of California. The court will determine the interest due in addition to the $90 million award. The verdict remains subject to post-trial proceedings, and any resulting judgment may be appealed. An Eli Lilly spokesperson told MT Newswires in an emailed response that Nektar was awarded only a small fraction of the damages it sought, and that the company believes that there is no liability and no damages should have been awarded. Eli Lilly intends to seek a reversal, the spokesperson said. Shares of Nektar Therapeutics were up 2.7% pre-bell.