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Mar 31, 2025
NextCure Q1 2025 Earnings Report
Reported first quarter 2025 financial results
Key Takeaways
NextCure reported a net loss of $11.0 million for the first quarter of 2025, an improvement from the $17.1 million net loss in the prior year's quarter. The decrease in net loss was primarily driven by lower research and development expenses and general and administrative expenses, resulting from the 2024 restructuring.
Net loss for Q1 2025 was $11.0 million, a decrease from $17.1 million in Q1 2024.
Research and development expenses decreased by $3.5 million compared to Q1 2024.
General and administrative expenses decreased by $0.6 million compared to Q1 2024.
Cash, cash equivalents, and marketable securities were $55.9 million as of March 31, 2025, expected to fund operations into the second half of 2026.
Forward Guidance
NextCure expects its current financial resources of $55.9 million to fund operating expenses and capital expenditures into the second half of 2026. The company plans to initiate backfill cohorts for the LNCB74 Phase 1 study in the second half of 2025 and provide a proof of concept data readout in the first half of 2026. Preclinical non-oncology programs could lead to IND filings within 12 to 18 months if partnered.
Positive Outlook
- Cash position of $55.9 million expected to fund operations into the second half of 2026.
- Progressing through the dose escalation portion of the LNCB74 Phase 1 study.
- Plan to initiate backfill cohorts for LNCB74 in the second half of 2025.
- Plan to provide LNCB74 proof of concept data readout in the first half of 2026.
- Preclinical non-oncology programs (NC181, NC605) show promising data and potential for IND filings with partners.
Challenges Ahead
- Continued net loss.
- Requires financial support from partners for preclinical non-oncology programs to advance to IND filings.
Historical Earnings Impact
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