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Jun 30, 2024
Nuvalent Q2 2024 Earnings Report
Pipeline progress was highlighted, key anticipated milestones were reiterated, and second quarter 2024 financial results were reported.
Key Takeaways
Nuvalent reported its Q2 2024 financial results, highlighting strong execution across its pipeline, including the initiation of the Phase 2 portion of the ALKOVE-1 trial for NVL-655, receipt of FDA breakthrough therapy designation for both zidesamtinib and NVL-655, and initiation of the HEROEX-1 trial for NVL-330. The company's cash, cash equivalents, and marketable securities are expected to support operating runway into 2027.
Initiated Phase 2 portion of ALKOVE-1 trial for NVL-655 with registrational intent.
Received FDA breakthrough therapy designation for both zidesamtinib and NVL-655.
Initiated the HEROEX-1 trial for NVL-330.
Enrollment is progressing in the global Phase 2 portions of ARROS-1 and ALKOVE-1 clinical trials.
Forward Guidance
Nuvalent's OnTarget 2026 plan outlines anticipated milestones throughout 2024, leading to the company's first potential pivotal data in 2025 and first potential approved product in 2026.
Positive Outlook
- Execute on Global Registrational Strategies
- Progress the Phase 2 portion of its ARROS-1 trial of zidesamtinib in patients with advanced ROS1-positive NSCLC with registrational intent.
- Initiate the Phase 2 portion of its ALKOVE-1 trial of NVL-655 in patients with advanced ALK-positive NSCLC with registrational intent.
- Launch the front-line development strategy for its ALK program.
- Present interim data from its ongoing ARROS-1 and ALKOVE-1 clinical trials at medical meetings.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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