Nuvalent Q1 2022 Earnings Report
Key Takeaways
Nuvalent reported a net loss of $17.5 million, or $0.36 per share, for the first quarter of 2022. The company ended the quarter with $272.7 million in cash, cash equivalents, and marketable securities.
Enrollment is progressing well in the Phase 1 portion of the ARROS-1 Phase 1/2 trial of NVL-520 for advanced ROS1-positive NSCLC and other solid tumors.
The IND for NVL-655 was cleared, and the company is on track for planned initiation of the ALKOVE-1 Phase 1/2 study for advanced ALK-positive NSCLC and other solid tumors in the second quarter of 2022.
Nuvalent expects to select development candidates for its programs directed toward ALK IXDN compound resistance mutations and HER2 Exon 20 insertions in 2022.
Anna Protopapas was appointed as Chair of the Board of Directors in March 2022.
Nuvalent
Nuvalent
Forward Guidance
Nuvalent expects the existing cash, cash equivalents, and marketable securities to be sufficient to fund its planned operations into 2024.