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Jun 30, 2024
NextCure Q2 2024 Earnings Report
NextCure's financial position and pipeline programs were updated.
Key Takeaways
NextCure reported a net loss of $15.4 million for the second quarter of 2024, with cash, cash equivalents, and marketable securities totaling $86.4 million. The company completed enrollment in the ovarian cancer cohort of the NC410 and pembrolizumab combination study and is on track to submit an IND filing for LNCB74 by year-end.
Completed enrollment of additional ovarian cancer patients in the NC410 combo with pembrolizumab study.
Presented Phase 1b data for NC410 and pembrolizumab combination at ASCO.
Completed GLP toxicology studies for LNCB74 and targeting an IND application by year-end.
Cash reserves are expected to fund operations into the second half of 2026.
NextCure
NextCure
Forward Guidance
NextCure expects its current financial resources to fund operating expenses and capital expenditures into the second half of 2026. The company is focused on advancing its pipeline programs, including NC410 and LNCB74, and is seeking partnerships or other funding sources for NC181 and NC605.
Positive Outlook
- On track to present data from ongoing ovarian cancer cohort expansion along with an update on the CRC data in the fourth quarter of 2024.
- Planned submission of an Investigational New Drug (IND) application for LNCB74 by year-end.
- Initiated manufacturing of material for toxicology studies for NC181.
- Conducted FDA pre-IND meeting related to treating osteogenesis imperfecta for NC605.
- Cash reserves are expected to fund operations into the second half of 2026.
Challenges Ahead
- Positive results in preclinical studies may not be predictive of the results of clinical trials.
- NextCure has a limited operating history and does not have any products approved for commercial sale.
- NextCure has a history of significant losses.
- NextCure's need and ability to obtain additional financing on acceptable terms or at all.
- Risks related to clinical development, marketing approval, and commercialization.