Nuvalent Q2 2023 Earnings Report
Key Takeaways
Nuvalent reported its second quarter 2023 financial results, highlighting the progress of its pipeline, including ongoing clinical trials for NVL-520 and NVL-655, and the advancement of NVL-330 toward clinical development. The company's cash, cash equivalents, and marketable securities are expected to support operations into the second half of 2025.
Preliminary dose-escalation data is anticipated from the ongoing ALKOVE-1 study of NVL-655 for patients with advanced ALK-positive NSCLC and other solid tumors at a medical meeting in the fourth quarter of 2023.
NVL-520's ARROS-1 Phase 1/2 trial is progressing toward selection of a recommended Phase 2 dose.
NVL-330 is continuing to advance through IND-enabling studies.
Cash, cash equivalents and marketable securities were $431.2 million as of June 30, 2023, expected to support operating runway into the second half of 2025.
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.