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Sep 30, 2022
Nuvalent Q3 2022 Earnings Report
Nuvalent reported its Q3 2022 financial results and pipeline progress.
Key Takeaways
Nuvalent reported preliminary Phase 1 clinical data from ARROS-1 Study, enrollment progressing in ALKOVE-1 Phase 1/2 trial, and NVL-330 demonstrates potency and selectivity for HER2 Exon 20 insertion mutations. The company's cash, cash equivalents, and marketable securities are expected to extend the operating runway into the second half of 2025.
Preliminary Phase 1 clinical data from ARROS-1 Study supports best-in-class potential of NVL-520 for patients with ROS1-positive NSCLC
Enrollment progressing in ALKOVE-1 Phase 1/2 trial with parallel-lead candidate, NVL-655, for ALK-positive NSCLC
NVL-330 demonstrates potency and selectivity for HER2 Exon 20 insertion mutations, and brain penetration in preclinical studies
Completed $264.5 million upsized public offering expected to extend operating runway into second half of 2025
Forward Guidance
The company’s cash, cash equivalents and marketable securities as of September 30, 2022, in combination with the proceeds from the follow-on offering, are expected to be sufficient to fund the company’s current operating plan into the second half of 2025.
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