Business
NextCure Provides Business Update and Reports Full Year 2022 Financial Results
Clinical data updates expected in 2023 for all three programsNC525 (LAIR-1 mAb) dosed first patient in a Phase 1 trial in acute myeloid leukemia (AML)Ended
About this update from Nextcure, Inc.
[{"type":"text","content":"Clinical data updates expected in 2023 for all three programsNC525 (LAIR-1 mAb) dosed first patient in a Phase 1 trial in acute myeloid leukemia (AML)Ended 2022 with approximately $160 million in cash that is expected to fund operations into mid-2025 BELTSVILLE, Md., March 02, 2023 (GLOBE NEWSWIRE) -- NextCure, Inc. (Nasdaq: NXTC), a clinical-stage biopharmaceutical company committed to discovering and developing novel, first-in-class immunomedicines to treat cancer and other immune-related diseases, today provided a business update and reported full year 2022 financial results. “2023 is expected to be a significant year for NextCure as we are anticipating data updates on all three of our clinical programs, starting with NC410, which targets the extracellular matrix,” said Michael Richman, NextCure’s president and chief executive officer. “Backed by a strong cash position, experienced team and integrated development capabilities, we are poised to execute on the continued advancement of our novel pipeline. With more than two years of expected financial runway, we believe we have the financial resources to deliver on our meaningful near-term milestones.” Business Highlights and Near-Term Milestones NC410 (LAIR-2 fusion) Continued enrollment in the Phase 1b/2 clinical trial evaluating NC410 in combination with pembrolizumab in patients with immune checkpoint refractory or naïve solid tumors. Phase 1b update is expected in mid-2023. NC762 (B7-H4 mAb) Continued enrollment in the Phase 1b dose expansion study in patients with solid tumors and high expression of B7-H4.Phase 1b update is expected in the fourth quarter of 2023. NC525 (LAIR-1 mAb) Dosed the first patient in a Phase 1 monotherapy dose escalation and safety study evaluating NC525 in AML patients in February 2023.Initial Phase 1a data is expected in the fourth quarter of 2023. Financial Guidance NextCure expects its existing cash, cash equivalents and marketable securities will enable it to fund operating expenses and capital expenditures into mid-2025. Financial Results for Full Year Ended December 31, 2022 Cash, cash equivalents, and marketable securities as of December 31, 2022, were $159.9 million as compared to $219.6 million as of December 31, 2021. The decrease of $59.7 million was primarily related to cash used to fund operations, cash used to purchase fixed assets, ...