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Sep 30, 2024
NextCure Q3 2024 Earnings Report
NextCure reported financial results for the third quarter of 2024 and provided a business update.
Key Takeaways
NextCure reported a net loss of $11.5 million for the third quarter of 2024, compared to a net loss of $14.3 million for the same period in 2023. The company's cash, cash equivalents, and marketable securities totaled $75.3 million as of September 30, 2024, and are expected to fund operations into the second half of 2026. The company is prioritizing LNCB74 development and seeking a partner for NC410 advancement.
NextCure plans to submit an IND for LNCB74 (B7-H4 ADC) by year-end.
Cash of approximately $75 million is expected to fund operations into the second half of 2026.
The company will present LNCB74 preclinical data at SITC in November.
NextCure is seeking a partner to advance the NC410 program.
NextCure
NextCure
Forward Guidance
NextCure expects its current financial resources to fund operating expenses and capital expenditures into the second half of 2026 and plans to submit an IND for LNCB74 in the fourth quarter of this year.
Positive Outlook
- Planned submission of an Investigational New Drug (IND) application for LNCB74 in the fourth quarter of this year.
- Focusing resources on advancing the development of LNCB74.
- Preclinical data from LNCB74 (B7-H4 ADC) will be presented at the Society of Immunotherapy of Cancer (SITC) annual meeting in November.
- The company expects financial resources to fund operating expenses and capital expenditures into the second half of 2026.
- NC181 has demonstrated amyloid clearance, prevention of amyloid deposition, plaque clearance and reduced neuroinflammation in preclinical AD animal models.
Challenges Ahead
- The company has a limited operating history and no products approved for commercial sale.
- NextCure has a history of significant losses.
- The company needs and must obtain additional financing on acceptable terms or at all.
- Positive results in preclinical studies may not be predictive of the results of clinical trials
- The company is dependent on key personnel.