Nuvalent Q4 2022 Earnings Report
Key Takeaways
Nuvalent reported a strong financial position with $472.2 million in cash, cash equivalents and marketable securities, which is expected to fund operations into the second half of 2025. The company highlighted progress in its clinical trials for NVL-520 and NVL-655 and the nomination of NVL-330 as a third development candidate.
Presented preliminary Phase 1 data supportive of the potential best-in-class profile of NVL-520 as a brain-penetrant, ROS1-selective inhibitor.
Initiated clinical development with NVL-655, a brain penetrant, ALK-selective inhibitor, in the Phase 1 portion of its ongoing ALKOVE-1 Phase 1/2 study.
Declared a third development candidate, NVL-330, a novel HER2-selective inhibitor for patients with HER2 exon 20 insertion-positive cancers.
Cash, cash equivalents and marketable securities were $472.2 million as of December 31, 2022, expected to fund operations into the second half of 2025.