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Dec 31, 2022
Nuvectis Pharma Q4 2022 Earnings Report
Reported fiscal year 2022 financial results and business highlights.
Key Takeaways
Nuvectis Pharma reported its financial results for the fiscal year 2022. The company's cash, cash equivalents, and short-term investments were $20.0 million as of December 31, 2022, and the net loss was $19.1 million for the year ended December 31, 2022.
Advanced the Phase 1a dose escalation study for NXP800 in patients with various advanced solid tumors.
FDA granted Fast Track Designation to the NXP800 development program in platinum resistant, ARID1a-mutated ovarian carcinoma.
ENGOT and GOG-F will lead the upcoming Phase 1b clinical trial in ARID1a-mutated ovarian carcinoma.
Progress made toward submission of an IND and commencement of the Phase 1 clinical trial for NXP900, expected in 1H2023.
Nuvectis Pharma
Nuvectis Pharma
Forward Guidance
Nuvectis expects to continue the momentum for both programs into the second half of 2024.
Positive Outlook
- NXP800 Phase 1a dose escalation study progressing.
- NXP800 granted FDA Fast Track Designation.
- ENGOT and GOG-F to lead NXP800 Phase 1b clinical trial.
- NXP900 IND submission and Phase 1 clinical trial expected in 1H2023.
- Sufficient working capital to continue momentum for both programs into the second half of 2024.
Challenges Ahead
- Uncertainties related to clinical trial outcomes.
- Risks associated with drug development and regulatory approvals.
- Potential delays in IND submission and trial commencement.
- Dependence on successful collaborations and partnerships.
- Market and other conditions could impact forward-looking statements.