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Mar 31, 2023
Nuvalent Q1 2023 Earnings Report
Announced anticipated timing of preliminary Phase 1 dose-escalation data for NVL-655 and reported first quarter 2023 financial results
Key Takeaways
Nuvalent reported its Q1 2023 financial results, with a net loss of $25.2 million, or $0.44 per share. The company's cash, cash equivalents, and marketable securities totaled $450.5 million as of March 31, 2023, expected to fund operations into the second half of 2025. Preliminary data from the ALKOVE-1 trial of NVL-655 is anticipated in the second half of 2023.
Preliminary dose-escalation data anticipated in second half of 2023 from ongoing ALKOVE-1 Phase 1/2 clinical trial of NVL-655 for patients with advanced ALK-positive NSCLC and other solid tumors
Cash, cash equivalents and marketable securities were $450.5 million as of March 31, 2023
Research and development (R&D) expenses were $22.1 million for the first quarter of 2023
Net loss for the first quarter of 2023 was $25.2 million, or $0.44 per share
Nuvalent
Nuvalent
Forward Guidance
Nuvalent believes the existing cash, cash equivalents and marketable securities are expected to be sufficient to fund its current operating plan into the second half of 2025.