Safety and Efficacy of Oral NXC-736 in Adult Participants with Moderate and Severe Alopecia Areata

Inclusion Criteria:

• Men or women between ≥19 and ≤65 years of age at the time of informed consent

• Moderate and severe alopecia areata as assessed by a SALT score of 25% ≤ SALT < 95%at Screening and Day 1/Baseline

• Current episode of hair loss for ≥6 months but <8 years

• Stable disease condition (no significant growth of hair) in the last 6 months asassessed by the Investigator

• Willing to keep the same hair style and color (eg, hair products, process, andtiming for hair appointments) for the duration of the study

Exclusion Criteria:

• Participants with the following medical history confirmed during screening:

• ohter Types of alopecia other than alopecia areata (such ascicatricial/scarring alopecia [including central centrifugal cicatricialalopecia], traction alopecia, androgenic alopecia, telogen effluvium, etc.)

• Active scalp inflammation, scalp infection, scalp psoriasis, or any other scalpcondition that may interfere with the SALT assessment

• Previous use of Janus kinase (JAK) inhibitor (oral or topical), includingparticipation in clinical studies of JAK inhibitors