NextCure Provides Business Update and Reports Third Quarter 2023 Financial Results
03 11월 2023 - 5:05AM
NextCure, Inc. (Nasdaq: NXTC), a clinical-stage biopharmaceutical
company committed to discovering and developing novel,
first-in-class immunomedicines to treat cancer and other
immune-related diseases today provided a business update and
reported third quarter 2023 financial results.
“We plan to provide updates on our clinical programs, including
the Phase 1b trial of NC410 in combination with pembrolizumab in
patients with solid tumors, the Phase 1b trial of NC762 targeting
tumor types with high B7-H4 expression, and a Phase 1a operational
update for NC525 treating patients with acute myeloid leukemia
(AML) by the end of the year,” said Michael Richman, NextCure’s
president and chief executive officer. “Our cash position and
mid-2025 runway will support advancement of our most promising
programs.”
Q3 2023 Business Highlights and Updates
- Phase 1b updates for NC410 (LAIR-2
Fusion) and NC762 (B7-H4 mAb) by year end.
- Operational update for NC525 (LAIR-1
mAb) Phase 1a by year end.
- Selected LNCB74 (B7-H4 ADC), the
first antibody drug conjugate (ADC) candidate from our
collaboration with LegoChem Biosciences, Inc. Under the terms of
the collaboration, both parties equally share the costs of
developing the molecules and profits on commercialized
products.
- Presented data on NC605, a novel
anti-Siglec-15 antibody, at the American Society for Bone and
Mineral Research (ASBMR) Annual Meeting, demonstrating reduced bone
loss and enhanced bone quality in mice with osteogenesis
imperfecta.
- Presented data on NC181, a novel
humanized antibody targeting ApoE4, at the 2023 Cambridge Health
Tech Institute's 2nd Annual Neurodegeneration Targets Conference,
demonstrating amyloid clearance, prevention of amyloid deposition,
plaque clearance and other important findings for the treatment of
Alzheimer’s disease.
Financial Guidance
- NextCure expects its existing cash, cash equivalents and
marketable securities will enable it to fund operating expenses and
capital expenditures into mid-2025.
Financial Results for Quarter Ended September 30,
2023
- Cash, cash equivalents, and marketable securities as of
September 30, 2023, were $118.2 million as compared to $159.9
million as of December 31, 2022. The decrease of $41.7 million was
primarily related to cash used to fund operations, and cash used to
purchase fixed assets.
- Research and development expenses were $11.0 million for the
quarter ended September 30, 2023, as compared to $13.5 million for
the quarter ended September 30, 2022. The decrease of $2.5 million
was primarily related to lower costs related to our clinical
programs.
- General and administrative expenses were $4.6 million for the
quarter ended September 30, 2023, as compared to $5.7 million for
the quarter ended September 30, 2022. The decrease of $1.1 million
was primarily related to lower payroll related costs, lower stock
compensation, lower insurance costs and lower legal costs.
- Net loss was $14.3 million for the quarter ended September 30,
2023, as compared with a net loss of $18.9 million for the quarter
ended September 30, 2022. Lower research and development expenses,
lower general and administrative expenses and higher other income
contributed to the lower net loss.
About NextCure, Inc.
NextCure is a clinical-stage biopharmaceutical company committed
to discovering and developing novel, first-in-class immunomedicines
to treat cancer and other immune-related diseases. Through our
proprietary FIND-IO™ platform, we study various immune cells to
discover and understand targets and structural components of immune
cells and their functional impact in order to develop
immunomedicines. Our focus is to bring hope and new treatments to
patients who do not respond to current cancer therapies, patients
whose cancer progresses despite treatment and patients with cancer
types not adequately addressed by available therapies.
www.nextcure.com
Forward-Looking Statements
Some of the statements contained in this press release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including with respect to
funding for our operations, objectives and expectations for our
business, operations and financial performance and condition,
including the progress and results of clinical trials, development
plans and upcoming milestones regarding our immunomedicines. Any
statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements. In some cases,
you can identify forward-looking statements by terminology such as
“aim,” “anticipate,” “assume,” “believe,” “continue,” “could,”
“should,” “due,” “estimate,” “expect,” “intend,” “hope,” “may,”
“objective,” “plan,” “predict,” “potential,” “positioned,” “seek,”
“target,” “towards,” “forward,” “later,” “will,” “would” and other
similar expressions that are predictions of or indicate future
events and future trends, or the negative of these terms or similar
language.
Forward-looking statements involve substantial risks and
uncertainties that could cause actual results to differ materially
from those projected in any forward-looking statement. Such risks
and uncertainties include, among others: positive results in
preclinical studies may not be predictive of the results of
clinical trials; NextCure’s limited operating history and not
having any products approved for commercial sale; NextCure’s
history of significant losses; NextCure’s need and ability to
obtain additional financing on acceptable terms or at all; risks
related to clinical development, marketing approval and
commercialization; the unproven approach to the discovery and
development of product candidates based on NextCure’s FIND-IO
platform; and NextCure’s dependence on key personnel. More detailed
information on these and additional factors that could affect
NextCure’s actual results are described under the heading “Risk
Factors” in NextCure’s most recent Annual Report on Form 10-K and
in NextCure’s other filings with the Securities and Exchange
Commission. You should not place undue reliance on any
forward-looking statements. Forward-looking statements speak only
as of the date of this press release, and NextCure assumes no
obligation to update any forward-looking statements, even if
expectations change.
|
Selected Financial Information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Statement of Operations Items: |
|
Three Months Ended |
|
Nine Months Ended |
|
|
|
|
September 30, |
|
September 30, |
|
|
(in thousands, except share and per share amounts) |
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
$ |
11,010 |
|
|
$ |
13,528 |
|
|
$ |
36,104 |
|
|
$ |
41,377 |
|
|
|
General and administrative |
|
|
4,608 |
|
|
|
5,711 |
|
|
|
15,743 |
|
|
|
16,761 |
|
|
|
Loss from operations |
|
|
(15,618 |
) |
|
|
(19,239 |
) |
|
|
(51,847 |
) |
|
|
(58,138 |
) |
|
|
Other income, net |
|
|
1,317 |
|
|
|
328 |
|
|
|
3,591 |
|
|
|
705 |
|
|
|
Net loss |
|
$ |
(14,301 |
) |
|
$ |
(18,911 |
) |
|
$ |
(48,256 |
) |
|
$ |
(57,433 |
) |
|
|
Net loss per common share - basic and diluted |
|
$ |
(0.51 |
) |
|
$ |
(0.68 |
) |
|
$ |
(1.73 |
) |
|
$ |
(2.07 |
) |
|
|
Weighted-average shares outstanding - basic and diluted |
27,839,968 |
|
|
|
27,748,844 |
|
|
|
27,814,655 |
|
|
|
27,734,271 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Balance Sheet Items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, |
|
|
|
December 31, |
|
|
|
(in thousands) |
|
|
|
|
|
|
|
|
2023 |
|
|
|
2022 |
|
|
|
Cash, cash equivalents, and marketable securities |
|
|
|
|
|
|
|
$ |
118,206 |
|
|
$ |
159,911 |
|
|
|
Total assets |
|
|
|
|
|
|
|
$ |
139,939 |
|
|
$ |
184,161 |
|
|
|
Accounts payable and accrued liabilities |
|
|
|
|
|
|
|
$ |
6,552 |
|
|
$ |
9,127 |
|
|
|
Total stockholders' equity |
|
|
|
|
|
|
|
$ |
126,452 |
|
|
$ |
167,530 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investor InquiriesTimothy Mayer, Ph.D.NextCure,
Inc.Chief Operating Officer(240) 762-6486IR@nextcure.com
NextCure (NASDAQ:NXTC)
과거 데이터 주식 차트
부터 8월(8) 2024 으로 9월(9) 2024
NextCure (NASDAQ:NXTC)
과거 데이터 주식 차트
부터 9월(9) 2023 으로 9월(9) 2024