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Jun 30, 2022
Nuvalent Q2 2022 Earnings Report
Nuvalent reported second quarter 2022 financial results and highlighted execution across its pipeline of novel kinase inhibitors.
Key Takeaways
Nuvalent reported a net loss of $18.5 million for the second quarter of 2022. The company's cash, cash equivalents, and marketable securities totaled $257.0 million as of June 30, 2022, which is expected to fund operations into 2024. The company is advancing its pipeline with clinical trials ongoing for NVL-520 and NVL-655 and expects to select two additional development candidates in 2022.
Preliminary dose escalation data expected in second half of 2022 from the ARROS-1 study of NVL-520 for advanced ROS1 positive NSCLC and other solid tumors.
Dosing initiated and enrollment ongoing in ALKOVE-1 trial evaluating NVL-655 in patients with advanced ALK-positive NSCLC and other solid tumors.
New NVL-655 preclinical data presented at IASLC 2022 World Conference on Lung Cancer Annual Meeting.
Nuvalent is on track to select two additional development candidates from discovery pipeline in 2022.
Historical Earnings Impact
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