Nuvalent Q2 2022 Earnings Report
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.