Business
NextCure Reports Fourth Quarter and Full Year 2019 Financial Results
BELTSVILLE, Md., March 12, 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., March 12, 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 fourth quarter and full year 2019 financial results and provided a business update.\n “2019 was a momentous year for NextCure, highlighted by completing enrollment and reporting initial clinical data of the phase 1 portion of the NC318 phase 1/2 clinical trial, initiation of the phase 2 portion of the NC318 trial and two public financings,” said Michael Richman, NextCure’s president and chief executive officer. “Following the recent acceptance of our IND by the U.S. Food and Drug Administration for our second product candidate, NC410, we plan to initiate phase 1 clinical development in the second quarter of 2020. We believe we are well-positioned to continue accelerating our clinical development, advancing our preclinical programs, and growing our manufacturing capabilities as we pursue our goal of bringing novel immunomedicines to patients.” 2019 Business Highlights Published a Nature Medicine paper with Yale University describing Siglec-15 (S15) as a new target for immunotherapy in March.Closed initial public offering (IPO) in May, raising $86.3 million in gross proceeds.Promoted Timothy Mayer, Ph.D., to Chief Operating Officer in October.Initiated the phase 2 portion of the ongoing NC318 phase 1/2 monotherapy clinical trial in October.Presented positive clinical data from the phase 1 portion of the NC318 phase 1/2 monotherapy clinical trial at the 34th Annual Meeting of SITC in November.Closed follow-on offering in November, raising $172.2 million in gross proceeds. Upcoming Milestones Initiate enrollment in the phase 1 portion of our phase 1/2 clinical trial for our second product candidate, NC410, in the second quarter of 2020. Initiate an NC318 combination clinical trial in NSCLC with standard-of-care chemotherapies in mid-2020.Report initial data from the NC318 phase 2 monotherapy clinical trial by the end of 2020. Financial Results for Fourth Quarter and Full Year Ended December 31, 2019 Cash, cash equivalents, and marketable securities, excluding restricted cash, as of December 31, 2019 were $334.6 million, compared to $135.2 million as of December 31, 20...