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Dec 31, 2022
Nuvalent Q4 2022 Earnings Report
Nuvalent made significant progress across its pipeline of novel kinase inhibitors and reported fourth quarter and full year 2022 financial results.
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.
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