Nuvalent Q3 2023 Earnings Report
Key Takeaways
Nuvalent reported a net loss of $33.6 million for the third quarter of 2023. The company's cash, cash equivalents, and marketable securities totaled $413.3 million as of September 30, 2023, which, combined with the proceeds from a recent public offering, are expected to extend the operating runway into 2027.
Presented preliminary Phase 1 clinical data from ALKOVE-1 trial of NVL-655.
Initiated Phase 2 portion of ARROS-1 trial of NVL-520.
Continued advancement of NVL-330 toward clinical development.
Appointed Perrin Wilson Ph.D. as Senior Vice President of Business Development and Strategy.
Nuvalent
Nuvalent
Forward Guidance
Nuvalent expects its cash, cash equivalents and marketable securities, in combination with the net proceeds from the public offering, to extend the company's operating runway into 2027.