Business
NextCure Reports First Quarter 2020 Financial Results
BELTSVILLE, Md., May 07, 2020 (GLOBE NEWSWIRE) -- NextCure, Inc. (Nasdaq: NXTC), a clinical-stage biopharmaceutical company committed to discovering and
About this update from Nextcure, Inc.
[{"type":"text","content":"BELTSVILLE, Md., May 07, 2020 (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 reported first quarter 2020 financial results and provided a business update.\n “Throughout the first quarter, NextCure continued to make progress on its pipeline of novel immunomedicines, and we plan to present the initial biomarker data from our Phase 1 portion of the NC318 Phase 1/2 monotherapy clinical trial at the American Society of Clinical Oncology (ASCO) Annual Meeting this month,” said Michael Richman, NextCure’s president and chief executive officer. “We filed an IND for our second product candidate and received FDA clearance for clinical studies in the first quarter. In addition, we were prepared to initiate the Phase 1 portion of a Phase 1/2 clinical trial in March; however, the COVID-19 pandemic required us to temporarily delay initiating that trial and adjust some other timelines. We look forward to starting the NC410 trial when matters improve.” “We remain highly committed to our goal of bringing novel immunomedicines to patients by advancing our clinical and preclinical programs while leveraging our innovative FIND-IO platform,” added Mr. Richman. Business Highlights and Upcoming Milestones Filed an Investigational New Drug (IND) application for the NC410 program and received FDA clearance for clinical studies.Appointed veteran oncology executive Garry Nicholson to NextCure’s Board of Directors.Will report initial biomarker data from the Phase 1 portion of the NC318 Phase 1/2 monotherapy clinical trial at the virtual ASCO Annual Meeting in late May 2020.The following milestones were temporarily delayed by the COVID-19 pandemic and will be updated subject to further developments: Initiate enrollment in the phase 1 portion of our phase 1/2 clinical trial for our second product candidate, NC410. Initiate an NC318 combination clinical trial in NSCLC with standard-of-care chemotherapies. Given enrollment slowdown due to the COVID-19 pandemic, initial data reporting from the Phase 2 portion of the Phase 1/2 NC318 monotherapy clinical trial is expected to be delayed. Financial Results for Quarter Ended March 31, 2020 Cash, cash equivalents, and marketable securitie...